Piedmont Lithium Limited (NASDAQ:PLL)’s stock price rose 6.5% during trading on Thursday . The company traded as high as $70.26 and last traded at $70.01. Approximately 16,320 shares were traded during trading, a decline of 99% from the average daily volume of 1,340,477 shares. The stock had previously closed at $65.72.

PLL has been the topic of a number of research analyst reports. Loop Capital initiated coverage on shares of Piedmont Lithium in a report on Friday, January 22nd. They set a “buy” rating and a $64.00 price objective on the stock. Zacks Investment Research upgraded shares of Piedmont Lithium from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Wednesday, January 6th. B. Riley cut their target price on shares of Piedmont Lithium from $93.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, March 31st. Finally, BTIG Research upped their target price on shares of Piedmont Lithium from $40.00 to $85.00 in a research report on Monday, March 29th. Five analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus price target of $62.40.

The firm has a market capitalization of $997.88 million, a price-to-earnings ratio of -102.96 and a beta of 0.54. The business’s 50-day moving average is $67.89 and its two-hundred day moving average is $41.20.

A number of hedge funds and other institutional investors have recently bought and sold shares of PLL. Alyeska Investment Group L.P. bought a new stake in Piedmont Lithium during the 4th quarter worth approximately $15,930,000. Van ECK Associates Corp bought a new stake in Piedmont Lithium during the 4th quarter worth approximately $5,103,000. Principal Financial Group Inc. bought a new stake in Piedmont Lithium during the 4th quarter worth approximately $4,207,000. Graham Capital Management L.P. bought a new position in shares of Piedmont Lithium during the 4th quarter worth approximately $3,856,000. Finally, U S Global Investors Inc. bought a new position in shares of Piedmont Lithium during the 4th quarter worth approximately $664,000. 0.34% of the stock is owned by institutional investors and hedge funds.

Piedmont Lithium Company Profile (NASDAQ:PLL)

Piedmont Lithium Limited engages in the exploration and development of resource projects in the United States. The company primarily holds a 100% interest in the Piedmont lithium project covering a landholding of 2,126 acres in the North Carolina, the United States. It also owns a 61-acre property in Kings Mountain, North Carolina.

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