CEO of Piedmont Lithium Inc. (NASDAQ:PLL) sells $183,677.19 in stock
Piedmont Lithium Inc. (NASDAQ:PLL – Get Rating) CEO Keith D. Phillips sold 3,837 shares of the company in a trade that took place on Monday, June 13. The stock was sold at an average price of $47.87, for a total transaction of $183,677.19. As a result of the sale, the CEO now directly owns 96,051 shares of the company, valued at approximately $4,597,961.37. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
PLL stock traded at $3.50 at midday on Wednesday, hitting $50.74. 526,130 shares of the company were traded, against an average volume of 440,932. The company has a fifty-day simple moving average of $61.98 and a 200-day simple moving average of $58.56. Piedmont Lithium Inc. has a 12 month minimum of $40.65 and a 12 month maximum of $79.99.
Several research companies have weighed in on PLL. Cowen began covering Piedmont Lithium stocks in a research report on Monday, May 23. They set an “outperformance” rating on the stock. B. Riley raised his price target on Piedmont Lithium shares from $89.00 to $95.00 and gave the company a “buy” rating in a Thursday, Feb. 17 research note. JPMorgan Chase & Co. raised its price target on Piedmont Lithium shares from $84.00 to $92.00 and gave the stock an “overweight” rating in a Thursday, March 24 research report. Finally, Cowen took coverage of Piedmont Lithium stocks in a Monday, May 23 research report. They issued an “outperform” rating and a target price of $90.00 for the company. Seven investment analysts rated the stock with a buy rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $94.17.
Hedge funds have recently changed their positions in the business. Two Sigma Advisers LP increased its stake in Piedmont Lithium by 229.6% during the third quarter. Two Sigma Advisers LP now owns 8,900 shares of the mining exploration company worth $485,000 after purchasing an additional 6,200 shares during the period. The Swiss National Bank raised its position in Piedmont Lithium shares by 11.9% during the fourth quarter. The Swiss National Bank now owns 34,900 shares of the mining exploration company worth $1,831,000 after buying 3,700 more shares last quarter. UBS Asset Management Americas Inc. increased its position in Piedmont Lithium shares by 10.5% during the third quarter. UBS Asset Management Americas Inc. now owns 9,947 shares of the mining exploration company worth $542,000 after buying 947 additional shares last quarter. Captrust Financial Advisors increased its position in Piedmont Lithium shares by 142.1% during the third quarter. Captrust Financial Advisors now owns 1,363 shares of the mining exploration company worth $74,000 after buying 800 more shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Piedmont Lithium shares by 4.3% during the third quarter. Goldman Sachs Group Inc. now owns 12,696 shares of the mining exploration company worth $691,000 after buying 529 additional shares last quarter. 24.02% of the shares are held by institutional investors.
About Piedmont Lithium (Get a rating)
Piedmont Lithium Inc, an exploration-stage company, engages in the exploration and development of resource projects in the United States. The Company primarily owns a 100% interest in the Carolina Lithium Project which comprises an area of approximately 3,116 acres located in the Carolina Tin-Spodumene Belt located west of Charlotte, North Carolina, United States.
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