Tower Research Capital LLC TRC increased its stake in shares of Piedmont Lithium Inc. (NASDAQ:PLL – Free Report) by 640.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,569 shares of the mineral exploration company’s stock after purchasing an additional 1,357 shares during the period. Tower Research Capital LLC TRC’s holdings in Piedmont Lithium were worth $94,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently modified their holdings of the stock. Nisa Investment Advisors LLC grew its stake in Piedmont Lithium by 150.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 500 shares of the mineral exploration company’s stock valued at $30,000 after acquiring an additional 300 shares in the last quarter. Ahrens Investment Partners LLC purchased a new stake in shares of Piedmont Lithium in the 1st quarter valued at approximately $35,000. Geneos Wealth Management Inc. purchased a new stake in shares of Piedmont Lithium in the 1st quarter valued at approximately $36,000. Money Concepts Capital Corp purchased a new stake in shares of Piedmont Lithium in the 4th quarter valued at approximately $37,000. Finally, Point72 Middle East FZE purchased a new stake in shares of Piedmont Lithium in the 4th quarter valued at approximately $38,000. Institutional investors and hedge funds own 48.76% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on the stock. B. Riley dropped their price target on shares of Piedmont Lithium from $105.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, August 10th. Roth Mkm lowered their price objective on shares of Piedmont Lithium from $190.00 to $184.00 and set a “buy” rating for the company in a research report on Monday, August 28th. Finally, DA Davidson increased their price objective on shares of Piedmont Lithium from $90.00 to $96.00 in a research report on Monday, June 5th.
Piedmont Lithium Stock Up 0.8 %
Piedmont Lithium stock opened at $45.14 on Monday. The firm has a market cap of $866.51 million, a PE ratio of 3.28 and a beta of 1.00. Piedmont Lithium Inc. has a 52-week low of $41.02 and a 52-week high of $76.78. The company’s 50 day moving average is $52.10 and its two-hundred day moving average is $55.91.
Piedmont Lithium (NASDAQ:PLL – Get Free Report) last announced its quarterly earnings data on Tuesday, August 8th. The mineral exploration company reported ($0.55) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.06. On average, equities research analysts anticipate that Piedmont Lithium Inc. will post 5.58 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Piedmont Lithium news, Director Claude Demby sold 782 shares of the firm’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $45.12, for a total transaction of $35,283.84. Following the transaction, the director now directly owns 3,455 shares of the company’s stock, valued at approximately $155,889.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.77% of the stock is owned by company insiders.
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 3,245 acres located within the Carolina Tin-Spodumene Belt situated to the northwest of Charlotte, North Carolina in the United States.
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