Insider Selling: Piedmont Lithium Inc. (NASDAQ:PLL) CFO Sells 297 Shares of Stock

Piedmont Lithium Inc. (NASDAQ:PLL – Get Rating) CFO Michael D. White sold 297 shares of the stock in a transaction that occurred on Friday, January 6th. The shares were sold at an average price of $50.29, for a total transaction of $14,936.13. Following the completion of the transaction, the chief financial officer now directly owns 12,903 shares of the company’s stock, valued at $648,891.87. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Piedmont Lithium Trading Up 1.7 %

Shares of NASDAQ:PLL opened at $52.54 on Tuesday. Piedmont Lithium Inc. has a twelve month low of $32.08 and a twelve month high of $79.99. The company’s 50 day moving average is $53.94 and its 200 day moving average is $52.62. The company has a market cap of $946.25 million, a PE ratio of 17.06 and a beta of 0.99.

Piedmont Lithium (NASDAQ:PLL – Get Rating) last issued its quarterly earnings results on Friday, November 4th. The mineral exploration company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.01. Equities research analysts predict that Piedmont Lithium Inc. will post -1.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Piedmont Lithium

Hedge funds and other institutional investors have recently made changes to their positions in the company. Optimum Investment Advisors acquired a new stake in shares of Piedmont Lithium during the 3rd quarter worth approximately $27,000. Geneos Wealth Management Inc. acquired a new stake in shares of Piedmont Lithium during the 1st quarter worth approximately $36,000. First Personal Financial Services acquired a new stake in shares of Piedmont Lithium during the 3rd quarter worth approximately $33,000. Citigroup Inc. grew its stake in shares of Piedmont Lithium by 112.3% during the 1st quarter. Citigroup Inc. now owns 620 shares of the mineral exploration company’s stock worth $45,000 after purchasing an additional 328 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of Piedmont Lithium during the 1st quarter worth approximately $49,000. Institutional investors and hedge funds own 48.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. B. Riley reaffirmed a “buy” rating on shares of Piedmont Lithium in a research report on Thursday, January 5th. DA Davidson increased their price objective on shares of Piedmont Lithium from $85.00 to $90.00 in a research report on Friday, December 2nd. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Piedmont Lithium presently has a consensus rating of “Buy” and a consensus price target of $95.00.

Piedmont Lithium Company Profile

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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.