Brokerages Set Piedmont Lithium Inc. (NASDAQ:PLL) Price Target at $21.42

Shares of Piedmont Lithium Inc. (NASDAQ:PLL - Get Free Report) have been assigned an average recommendation of "Hold" from the eight research firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $21.42.

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

Piedmont Lithium Stock Performance

Shares of NASDAQ PLL traded down $0.33 during midday trading on Friday, reaching $7.92. The company had a trading volume of 314,371 shares, compared to its average volume of 309,885. The business's 50-day simple moving average is $9.95 and its 200 day simple moving average is $10.11. The stock has a market cap of $153.96 million, a P/E ratio of -1.94 and a beta of 0.78. Piedmont Lithium has a 1 year low of $6.57 and a 1 year high of $17.66. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.01.

Insiders Place Their Bets

In related news, CEO Keith D. Phillips sold 41,867 shares of the company's stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $12.31, for a total value of $515,382.77. Following the completion of the sale, the chief executive officer now owns 170,616 shares in the company, valued at $2,100,282.96. This represents a 19.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.81% of the stock is currently owned by company insiders.

Institutional Trading of Piedmont Lithium

Institutional investors and hedge funds have recently bought and sold shares of the business. National Bank of Canada FI raised its position in Piedmont Lithium by 2,095.4% during the 3rd quarter. National Bank of Canada FI now owns 2,854 shares of the mineral exploration company's stock worth $25,000 after buying an additional 2,724 shares during the last quarter. FMR LLC raised its position in Piedmont Lithium by 38.7% during the 3rd quarter. FMR LLC now owns 3,353 shares of the mineral exploration company's stock worth $30,000 after buying an additional 936 shares during the last quarter. GAMMA Investing LLC raised its position in Piedmont Lithium by 65.8% during the 4th quarter. GAMMA Investing LLC now owns 3,907 shares of the mineral exploration company's stock worth $34,000 after buying an additional 1,550 shares during the last quarter. Point72 DIFC Ltd purchased a new position in Piedmont Lithium during the 2nd quarter worth $47,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Piedmont Lithium during the 2nd quarter worth $58,000. Hedge funds and other institutional investors own 52.23% of the company's stock.

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.