Piedmont Lithium Inc. (PLL): Technical Analysis Suggests You Should Hold

The stock of Piedmont Lithium Inc. (NASDAQ:PLL) decreased by -$1.04 on Friday to finish at $66.84, down -1.53 percent. The last five days have seen an average of 554,700 shares of common stock traded. 13 times new highs were reached in the current year, with a gain of $22.82. The average number of shares traded over the last 20 days was 493,150, while the average volume over the last 50 days totaled 457,958.

PLL stock appreciated 57.68% since last month. On 12/28/22, the company’s shares reached a one-month low of $41.02. The stock touched a high of $79.99 on 01/26/23, after rallying from a low of $32.08 in 52 weeks. The price of PLL stock has risen by 51.84% or $22.82 this year, reaching a new high 13 times. Still, the stock price is down -16.44% from the 52-week high.

Insider Transactions

PLL stock investors should be aware that Piedmont Lithium Inc. (PLL) stock had its last reported insider trading activity 24 days ago on Jan 06. On Jan 06, President and CEO Phillips Keith D. sold 705 shares at $50.36 each. This transaction resulted in the insider making $35,504. On Jan 06, Czachor Bruce sold 179 shares at a price of US$50.42. After the transaction, the insider now owns 11,829 shares. EVP and CFO WHITE MICHAEL D had earlier sold 297 shares on Jan 06 for $50.29 a share. The transaction was completed for $14,936.

Valuation Metrics

Company paid $0.3050 per share in dividends, remained unchanged from $0.3050 last year.

Financial Health

For the three months ended June 29, Piedmont Lithium Inc.’s quick ratio was 23.40, while its current ratio was 23.40, indicating its ability to pay off its debt.

Earnings Surprise

According to Piedmont Lithium Inc.’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. It was predicted that Piedmont Lithium Inc.’s quarterly earnings would be -$0.53, but it ended up being -$0.38, beating the consensus by -39.50%. EBITDA was -$7.57 million for the quarter. At the end of Piedmont Lithium Inc.’s most recent quarter ended June 29, its liabilities totaled 12.47 million, while its total debt was $0.85 million. Equity owned by shareholders amounts to $0.18 million.

Technical Picture

Here’s a quick look at Piedmont Lithium Inc.’s (PLL) price momentum from a technical perspective. As of 27 January, the RSI 9-day stood at 71.30%, suggesting the stock is Overbought, with a 49.73% historical volatility rate.

The stochastic %K and %D were 86.74% and 91.82% respectively, while the average true range (ATR) was 3.81. Based on the 14-day stochastic reading of 77.31%, the RSI (14) reading is 67.53%. On the 9-day MACD Oscillator, the stock is at 4.13, and the 14-day reading is at 6.45.

Analyst Ratings

Analysts have assigned Piedmont Lithium Inc. (PLL) an Buy rating. PLL is a stock that is recommended for selling by 0 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 6 others recommend it as a buy.

What is PLL’s price target for the next 12 months?

The current consensus forecast for the stock is between $85.00 and $154.00, with a median target price of $92.50. In analyzing these forecasts, the average price target given by analysts for Piedmont Lithium Inc. (PLL) is $103.67.

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