Insider Selling: Piedmont Lithium Inc. (NASDAQ:PLL) CEO Sells 3,944 Shares of Stock

Piedmont Lithium Inc. (NASDAQ:PLLGet Rating) CEO Keith D. Phillips sold 3,944 shares of the firm’s stock in a transaction dated Thursday, June 16th. The stock was sold at an average price of $50.07, for a total value of $197,476.08. Following the completion of the sale, the chief executive officer now directly owns 101,544 shares of the company’s stock, valued at approximately $5,084,308.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shares of Piedmont Lithium stock traded up $0.67 during trading hours on Friday, hitting $50.52. The company’s stock had a trading volume of 9,191 shares, compared to its average volume of 415,036. Piedmont Lithium Inc. has a twelve month low of $40.65 and a twelve month high of $79.99. The firm has a fifty day moving average of $61.23 and a 200-day moving average of $58.44.

Several hedge funds have recently bought and sold shares of the stock. National Bank of Canada FI increased its holdings in shares of Piedmont Lithium by 108.7% in the 1st quarter. National Bank of Canada FI now owns 480 shares of the mineral exploration company’s stock valued at $35,000 after acquiring an additional 250 shares during the last quarter. NEXT Financial Group Inc acquired a new stake in Piedmont Lithium during the 4th quarter worth approximately $26,000. Geneos Wealth Management Inc. acquired a new stake in shares of Piedmont Lithium in the 1st quarter valued at approximately $36,000. Citigroup Inc. lifted its holdings in shares of Piedmont Lithium by 112.3% in the 1st quarter. Citigroup Inc. now owns 620 shares of the mineral exploration company’s stock valued at $45,000 after buying an additional 328 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of Piedmont Lithium in the 1st quarter valued at approximately $49,000. Hedge funds and other institutional investors own 24.02% of the company’s stock.

A number of equities research analysts recently commented on PLL shares. Cowen started coverage on Piedmont Lithium in a report on Monday, May 23rd. They set an “outperform” rating for the company. B. Riley lifted their target price on Piedmont Lithium from $89.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, February 17th. Cowen started coverage on Piedmont Lithium in a report on Monday, May 23rd. They set an “outperform” rating and a $90.00 target price for the company. Finally, JPMorgan Chase & Co. lifted their price target on Piedmont Lithium from $84.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, March 24th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $94.17.

Piedmont Lithium Company Profile (Get Rating)

Piedmont Lithium Inc, an exploration 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 3,116 acres located within the Carolina Tin-Spodumene Belt situated to the west of Charlotte, North Carolina in the United States.

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Insider Buying and Selling by Quarter for Piedmont Lithium (NASDAQ:PLL)

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