Jane Street Group LLC Reduces Stock Holdings in Piedmont Lithium Inc. (NASDAQ:PLL)

Jane Street Group LLC trimmed its holdings in shares of Piedmont Lithium Inc. (NASDAQ:PLL - Free Report) by 88.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,740 shares of the mineral exploration company's stock after selling 196,741 shares during the quarter. Jane Street Group LLC owned about 0.13% of Piedmont Lithium worth $221,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PLL. FMR LLC grew its stake in Piedmont Lithium by 38.7% in the 3rd quarter. FMR LLC now owns 3,353 shares of the mineral exploration company's stock valued at $30,000 after buying an additional 936 shares during the last quarter. HITE Hedge Asset Management LLC boosted its holdings in Piedmont Lithium by 2.9% during the third quarter. HITE Hedge Asset Management LLC now owns 153,007 shares of the mineral exploration company's stock valued at $1,366,000 after acquiring an additional 4,345 shares during the period. Point72 DIFC Ltd acquired a new stake in shares of Piedmont Lithium in the second quarter valued at about $47,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Piedmont Lithium in the second quarter worth about $58,000. Finally, Larson Financial Group LLC lifted its position in shares of Piedmont Lithium by 53.0% during the 3rd quarter. Larson Financial Group LLC now owns 24,943 shares of the mineral exploration company's stock worth $223,000 after purchasing an additional 8,643 shares during the last quarter. 52.23% of the stock is currently owned by institutional investors.

Insider Activity at Piedmont Lithium

In related news, CEO Keith D. Phillips sold 41,867 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 170,616 shares of the company's stock, valued at approximately $2,100,282.96. This trade represents a 19.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.81% of the stock is currently owned by insiders.

Piedmont Lithium Stock Down 1.8 %

Shares of PLL opened at $8.94 on Monday. The stock's 50-day moving average price is $11.00 and its two-hundred day moving average price is $10.31. Piedmont Lithium Inc. has a 12 month low of $6.57 and a 12 month high of $24.26. The company has a market capitalization of $173.78 million, a PE ratio of -2.19 and a beta of 0.80. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.01.

Analyst Upgrades and Downgrades

PLL has been the topic of a number of research analyst reports. 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. reaffirmed an "underweight" rating and set a $8.00 price objective (down from $9.00) on shares of Piedmont Lithium in a report on Monday, October 21st. Macquarie upgraded shares of Piedmont Lithium from a "hold" rating to a "strong-buy" rating in a research report on Friday, December 6th. Roth Mkm cut Piedmont Lithium from a "buy" rating to a "neutral" rating and cut their price target for the company from $32.00 to $13.00 in a report on Wednesday, November 20th. Finally, BMO Capital Markets lifted their target price on Piedmont Lithium from $9.50 to $14.00 and gave the company a "market perform" rating in a research note on Friday, November 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Piedmont Lithium has a consensus rating of "Hold" and a consensus target price of $21.21.

About Piedmont Lithium

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.