Piedmont Lithium Limited [PLL] Stock trading around $68.18 per share: What’s Next?

Piedmont Lithium Limited [NASDAQ: PLL] gained 21.71% on the last trading session, reaching $68.18 price per share at the time. The company report on March 6, 2021 that Piedmont Announces Despatch of Scheme Booklet.

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Scheme Booklet available online.

Scheme meeting to be held in person and online on April 7, 2021.

Piedmont Lithium Limited represents 13.85 million in outstanding shares, while the company has a total market value of $944.50 million with the latest information. PLL stock price has been found in the range of $58.08 to $69.698.

If compared to the average trading volume of 1.17M shares, PLL reached a trading volume of 2293895 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 $55.67 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 1.80. 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.

B. Riley Securities have made an estimate for Piedmont Lithium Limited shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 25, 2021. While these analysts kept the previous recommendation, Loop Capital raised their target price to Buy. The new note on the price target was released on January 22, 2021, representing the official price target for Piedmont Lithium Limited stock. Previously, the target price had yet another raise to $40, while BTIG Research analysts kept a Buy rating on PLL stock.

The Average True Range (ATR) for Piedmont Lithium Limited is set at 9.71 The Price to Book ratio for the last quarter was 29.64.

Trading performance analysis for PLL stock

Piedmont Lithium Limited [PLL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -15.60. With this latest performance, PLL shares gained by 35.20% in over the last four-week period, additionally plugging by 1021.38% over the last 6 months – not to mention a rise of 736.56% 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 57.11, with the RSI for the last a single of trading hit 56.63, and the three-weeks RSI is set at 57.80 for Piedmont Lithium Limited [PLL]. The present Moving Average for the last 50 days of trading for this stock 50.21, while it was recorded at 62.84 for the last single week of trading, and 23.91 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 $86 million, or 0.84% of PLL stock, in the hands of institutional investors. The top three institutional holders of PLL stocks are: ALYESKA INVESTMENT GROUP, L.P. with ownership of 600,000, which is approximately New of the company’s market cap and around 0.24% of the total institutional ownership; VAN ECK ASSOCIATES CORP, holding 192,200 shares of the stock with an approximate value of $10.77 million in PLL stocks shares; and PRINCIPAL FINANCIAL GROUP INC, currently with $8.88 million in PLL stock with ownership of nearly New 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 March and at the time of the March reporting period, where 35 institutional holders increased their position in Piedmont Lithium Limited [NASDAQ:PLL] by around 1,506,887 shares. Additionally, 4 investors decreased positions by around 16,445 shares, while 0 investors held positions by with 14,602 shares. The mentioned changes placed institutional holdings at 1,537,934 shares, according to the latest SEC report filing. PLL stock had 29 new institutional investments in for a total of 1,482,282 shares, while 1 institutional investors sold positions of 13,321 shares during the same period.

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