Piedmont Lithium (NASDAQ:PLL) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Piedmont Lithium Inc. (NASDAQ:PLL)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $10.95 and traded as high as $14.60. Piedmont Lithium shares last traded at $12.95, with a volume of 1,571,441 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $8.00 target price (down previously from $9.00) on shares of Piedmont Lithium in a research report on Monday, October 21st. B. Riley lowered their price objective on Piedmont Lithium from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, August 12th. BMO Capital Markets upped their target price on shares of Piedmont Lithium from $8.50 to $9.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Roth Mkm reiterated a “buy” rating and issued a $31.00 price target (down from $40.00) on shares of Piedmont Lithium in a research note on Wednesday, October 30th. Finally, Macquarie lowered shares of Piedmont Lithium from a “neutral” rating to an “underperform” rating and set a $7.80 price objective on the stock. in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Piedmont Lithium presently has an average rating of “Hold” and a consensus price target of $22.26.

Piedmont Lithium Stock Up 6.6 %

The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.32 and a current ratio of 2.32. The company has a market capitalization of $251.61 million, a price-to-earnings ratio of -6.35 and a beta of 0.74. The business’s 50 day moving average is $10.63 and its 200 day moving average is $10.95.

Institutional Trading of Piedmont Lithium

Several institutional investors and hedge funds have recently bought and sold shares of the business. Larson Financial Group LLC lifted its stake in shares of Piedmont Lithium by 53.0% in the 3rd quarter. Larson Financial Group LLC now owns 24,943 shares of the mineral exploration company’s stock valued at $223,000 after purchasing an additional 8,643 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Piedmont Lithium by 15.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 154,881 shares of the mineral exploration company’s stock worth $1,383,000 after acquiring an additional 20,481 shares in the last quarter. Quest Partners LLC grew its position in shares of Piedmont Lithium by 708.5% during the 3rd quarter. Quest Partners LLC now owns 31,032 shares of the mineral exploration company’s stock valued at $277,000 after acquiring an additional 27,194 shares during the period. Point72 DIFC Ltd purchased a new position in shares of Piedmont Lithium in the 2nd quarter valued at about $47,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Piedmont Lithium in the 2nd quarter valued at about $723,000. 52.23% of the stock is currently owned by institutional investors and hedge funds.

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.