State Board of Administration of Florida Retirement System Makes New Investment in Piedmont Lithium Inc. (NASDAQ:PLL)

State Board of Administration of Florida Retirement System acquired a new position in Piedmont Lithium Inc. (NASDAQ:PLLGet Rating) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 5,940 shares of the mineral exploration company’s stock, valued at approximately $216,000.

A number of other hedge funds also recently modified their holdings of the company. Van ECK Associates Corp lifted its position in shares of Piedmont Lithium by 108.1% in the 2nd quarter. Van ECK Associates Corp now owns 810,916 shares of the mineral exploration company’s stock worth $29,525,000 after acquiring an additional 421,236 shares during the period. SG Americas Securities LLC bought a new position in shares of Piedmont Lithium during the 2nd quarter worth approximately $513,000. Russell Investments Group Ltd. bought a new position in shares of Piedmont Lithium during the 2nd quarter worth approximately $1,170,000. Sheets Smith Wealth Management lifted its position in shares of Piedmont Lithium by 40.1% during the 2nd quarter. Sheets Smith Wealth Management now owns 6,437 shares of the mineral exploration company’s stock worth $234,000 after buying an additional 1,842 shares during the period. Finally, Deuterium Capital Management LLC lifted its position in shares of Piedmont Lithium by 29.3% during the 2nd quarter. Deuterium Capital Management LLC now owns 9,700 shares of the mineral exploration company’s stock worth $353,000 after buying an additional 2,200 shares during the period. Institutional investors own 50.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. B. Riley raised their target price on Piedmont Lithium from $95.00 to $108.00 and gave the stock a “buy” rating in a research report on Thursday, October 27th. Roth Capital reiterated a “buy” rating on shares of Piedmont Lithium in a research report on Monday, September 5th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $96.25.

Insider Buying and Selling at Piedmont Lithium

In other Piedmont Lithium news, CEO Keith D. Phillips sold 7,324 shares of the business’s stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $62.64, for a total value of $458,775.36. Following the completion of the transaction, the chief executive officer now directly owns 128,982 shares of the company’s stock, valued at $8,079,432.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Keith D. Phillips sold 6,164 shares of the business’s stock in a transaction dated Friday, October 21st. The stock was sold at an average price of $56.79, for a total value of $350,053.56. Following the sale, the chief executive officer now directly owns 120,259 shares in the company, valued at $6,829,508.61. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Keith D. Phillips sold 7,324 shares of the business’s stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $62.64, for a total value of $458,775.36. Following the completion of the sale, the chief executive officer now owns 128,982 shares in the company, valued at $8,079,432.48. The disclosure for this sale can be found here. Insiders own 1.75% of the company’s stock.

Piedmont Lithium Price Performance

NASDAQ:PLL opened at $57.45 on Tuesday. Piedmont Lithium Inc. has a 1 year low of $32.08 and a 1 year high of $79.99. The stock has a 50-day moving average price of $58.21 and a two-hundred day moving average price of $53.40.

About Piedmont Lithium

(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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Institutional Ownership by Quarter for Piedmont Lithium (NASDAQ:PLL)

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