Piedmont Lithium Inc. (NASDAQ:PLL) Given Consensus Rating of “Hold” by Analysts

Shares of Piedmont Lithium Inc. (NASDAQ:PLL) have received a consensus recommendation of “Hold” from the eight brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $21.42.

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. reiterated 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. Macquarie upgraded shares of Piedmont Lithium from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. Roth Capital downgraded shares of Piedmont Lithium from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Roth Mkm cut Piedmont Lithium from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $32.00 to $13.00 in a research 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 stock a “market perform” rating in a report on Friday, November 29th.

Insider Buying and Selling at Piedmont Lithium

In other Piedmont Lithium news, CEO Keith D. Phillips sold 41,867 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $12.31, for a total transaction of $515,382.77. Following the completion of the sale, the chief executive officer now directly owns 170,616 shares in the company, valued at $2,100,282.96. The trade was a 19.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.81% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new stake in shares of Piedmont Lithium during the 4th quarter valued at $98,000. Bank of New York Mellon Corp lifted its position in Piedmont Lithium by 2.7% during the fourth quarter. Bank of New York Mellon Corp now owns 70,082 shares of the mineral exploration company’s stock valued at $613,000 after purchasing an additional 1,855 shares in the last quarter. Atria Wealth Solutions Inc. bought a new stake in Piedmont Lithium during the fourth quarter valued at about $91,000. GAMMA Investing LLC increased its position in Piedmont Lithium by 65.8% in the fourth 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 in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Piedmont Lithium by 23.1% in the third quarter. JPMorgan Chase & Co. now owns 31,060 shares of the mineral exploration company’s stock worth $277,000 after buying an additional 5,831 shares during the period. 52.23% of the stock is currently owned by institutional investors.

Piedmont Lithium Stock Down 1.3 %

Shares of NASDAQ:PLL opened at $8.24 on Friday. Piedmont Lithium has a 12-month low of $6.57 and a 12-month high of $17.66. The stock has a market capitalization of $160.19 million, a price-to-earnings ratio of -2.01 and a beta of 0.78. The stock has a fifty day simple moving average of $9.61 and a two-hundred day simple moving average of $10.04. 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 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.