BTIG Research lifts Piedmont Lithium Limited [PLL] price estimate. Who else is bullish?

Piedmont Lithium Limited [NASDAQ: PLL] gained 11.85% or 3.3 points to close at $31.15 with a heavy trading volume of 2204245 shares. The company report on December 16, 2020 that Pall Corporation and Single Use Support Partner to Safeguard Storage and Transport Critical Biopharmaceuticals.

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Pall Corporation, a global leader in filtration, separation and purification, announced a strategic partnership with Single Use Support GmbH, a leading provider of an innovative, end-to-end solution for safe handling of biologics from bulk manufacturing to fill finish. Pall will provide a significant investment and partner with Single Use Support to distribute the RoSS platform which enhances Pall’s integrated solutions and will make the RoSS platform more accessible to Biopharma customers around the globe.

“Safe and reliable management of drug substances is a challenge for many Pall customers. Through our partnership with Single Use Support, Pall will be able to offer the Biopharma industry a fully validated end-to-end solution, which will enable our customers to bring life-saving drugs to the patient in a more efficient way,” explained Ed Hoare, Vice President and General Manager, Pall Corporation.

It opened the trading session at $27.50, the shares rose to $31.86 and dropped to $27.50, the range by which the price of stock traded the whole day. The daily chart for PLL points out that the company has recorded 406.09% gains over the past six months. However, it is still -678.75% lower than its most recent low trading price.

If we look at the average trading volume of 2.78M shares, PLL reached to a volume of 2204245 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Piedmont Lithium Limited [PLL]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PLL shares is $41.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PLL stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BTIG Research have made an estimate for Piedmont Lithium Limited shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 11, 2020.

The Average True Range (ATR) for Piedmont Lithium Limited is set at 2.52 The Price to Book ratio for the last quarter was 13.54.

Trading performance analysis for PLL stock

Piedmont Lithium Limited [PLL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 22.11. With this latest performance, PLL shares gained by 18.26% in over the last four-week period, additionally plugging by 406.09% over the last 6 months – not to mention a rise of 318.78% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PLL stock in for the last two-week period is set at 64.41, with the RSI for the last a single of trading hit 72.26, and the three-weeks RSI is set at 60.63 for Piedmont Lithium Limited [PLL]. The present Moving Average for the last 50 days of trading for this stock 26.78, while it was recorded at 28.02 for the last single week of trading, and 12.66 for the last 200 days.

Piedmont Lithium Limited [PLL]: A deeper dive into fundamental analysis

Return on Total Capital for PLL is now -42.77, given the latest momentum, and Return on Invested Capital for the company is -38.23. Return on Equity for this stock declined to -40.75, with Return on Assets sitting at -33.95. When it comes to the capital structure of this company, Piedmont Lithium Limited [PLL] has a Total Debt to Total Equity ratio set at 10.76. Additionally, PLL Total Debt to Total Capital is recorded at 9.71, with Total Debt to Total Assets ending up at 9.35. Long-Term Debt to Equity for the company is recorded at 7.82, with the Long-Term Debt to Total Capital now at 7.06.

An analysis of insider ownership at Piedmont Lithium Limited [PLL]

There are presently around $1 million, or 0.79% of PLL stock, in the hands of institutional investors. The top three institutional holders of PLL stocks are: WILLIAMS JONES WEALTH MANAGEMENT, LLC. with ownership of 18,080, which is approximately New of the company’s market cap and around 0.24% of the total institutional ownership; JANE STREET GROUP, LLC, holding 13,321 shares of the stock with an approximate value of $0.41 million in PLL stocks shares; and MORGAN STANLEY, currently with $0.2 million in PLL stock with ownership of nearly 323.417% of the company’s market capitalization.

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Positions in Piedmont Lithium Limited stocks held by institutional investors increased at the end of December and at the time of the December reporting period, where 10 institutional holders increased their position in Piedmont Lithium Limited [NASDAQ:PLL] by around 44,621 shares. Additionally, 5 investors decreased positions by around 547,739 shares, while 0 investors held positions by with 544,868 shares. The mentioned changes placed institutional holdings at 47,492 shares, according to the latest SEC report filing. PLL stock had 7 new institutional investments in for a total of 34,533 shares, while 5 institutional investors sold positions of 547,739 shares during the same period.

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