Piedmont Lithium Inc. (NASDAQ:PLL) Receives Consensus Recommendation of "Hold" from Brokerages

Shares of Piedmont Lithium Inc. (NASDAQ:PLL - Get Free Report) have been assigned an average recommendation of "Hold" from the nine brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $21.21.

Several research firms recently commented on PLL. Roth Mkm cut Piedmont Lithium from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $32.00 to $13.00 in a research report on Wednesday, November 20th. Roth Capital downgraded Piedmont Lithium from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $8.00 price target (down previously from $9.00) on shares of Piedmont Lithium in a research note on Monday, October 21st. BMO Capital Markets increased their price objective on Piedmont Lithium from $9.50 to $14.00 and gave the company a "market perform" rating in a research report on Friday, November 29th. Finally, Macquarie upgraded shares of Piedmont Lithium from a "hold" rating to a "strong-buy" rating in a research report on Friday, December 6th.

Piedmont Lithium Price Performance

Shares of PLL stock traded down $0.43 during trading hours on Thursday, reaching $11.44. The stock had a trading volume of 376,736 shares, compared to its average volume of 705,718. The stock's fifty day simple moving average is $12.48 and its 200 day simple moving average is $10.69. The firm has a market capitalization of $222.37 million, a PE ratio of -2.80 and a beta of 0.72. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.01. Piedmont Lithium has a 12 month low of $6.57 and a 12 month high of $31.82.

Insider Buying and Selling at Piedmont Lithium

In related news, CEO Keith D. Phillips sold 41,867 shares of the business's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $12.31, for a total transaction of $515,382.77. Following the transaction, the chief executive officer now owns 170,616 shares in the company, valued at $2,100,282.96. The trade was a 19.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.81% of the stock is currently owned by corporate insiders.

Institutional Trading of Piedmont Lithium

Large investors have recently bought and sold shares of the company. HITE Hedge Asset Management LLC purchased a new stake in Piedmont Lithium during the 2nd quarter valued at about $1,484,000. Raymond James & Associates purchased a new position in shares of Piedmont Lithium during the 2nd quarter valued at $1,472,000. Marshall Wace LLP bought a new position in shares of Piedmont Lithium in the second quarter worth about $874,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Piedmont Lithium during the second quarter worth about $723,000. Finally, Point72 Asset Management L.P. raised its position in shares of Piedmont Lithium by 20.0% during the second quarter. Point72 Asset Management L.P. now owns 300,000 shares of the mineral exploration company's stock valued at $2,994,000 after buying an additional 50,000 shares during the last quarter. 52.23% of the stock is owned by institutional investors.

Piedmont Lithium Company Profile

Piedmont Lithium Inc, a development stage company, engages in the exploration and development of resource projects in the United States. The company primarily holds a 100% interest in the Carolina Lithium Project that include an area of approximately 3,706 acres located within the Carolina Tin-Spodumene Belt situated to the northwest of Charlotte, North Carolina in the United States.