Technicals Say Piedmont Lithium Inc. (PLL) Is Worth Holding

As of Friday close, Piedmont Lithium Inc.’s (NASDAQ:PLL) stock was down -$0.52, moving down -0.87 percent to $59.55. The average number of shares traded per day over the past five days has been 527,000 shares. 3 times new highs have been achieved over the past 5 days, with a -$3.08 fall in that time frame. In the last twenty days, the average volume was 503,005, while in the previous 50 days, it was 443,480.

Since last month, PLL stock retreated -6.53%. Shares of the company fell to $53.15 on 08/22/22, the lowest level in the past month. A 52-week high of $79.99 was reached on 03/30/22 after having rallying from a 52-week low of $32.08. Since the beginning of this year, PLL’s stock price has risen by 13.52% or $7.09, and marked a new high 14 times. However, the stock has declined by -25.55% since its 52-week high.

Piedmont Lithium Inc. (PLL) last reported insider trading activity 36 days ago on Aug 12. Brindle Patrick, the EVP and COO of the company, disposed of 4,491 shares for $66.97 on Aug 12. It resulted in a $300,779 divestment by the insider. Phillips Keith D. sold 5,995 shares at an average price of $51.82 on Aug 10. The insider now owns 110,771 shares following the transaction. On Jun 29, Director Armstrong Jeffrey T. bought 2,500 shares at $38.27 apiece. The transaction was valued at $95,670.

Valuation Metrics

The latest dividend of $0.3050 per share was paid out, remained unchanged from last year’s $0.3050.

In Piedmont Lithium Inc.’s quarter-end financial report for March 30, it reported total debt of $0.71 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. While analysts expected Piedmont Lithium Inc. to report -$0.26 quarterly earnings, the actual figure was -$0.57 per share, beating the consensus estimate by -119.20%. During the quarter, the company generated -$8.34 million in EBITDA. The liabilities of Piedmont Lithium Inc. were 6.49 million at the end of its most recent quarter ended March 30, and its total debt was $1.46 million. The value of shareholders’ equity is $0.18 million.

Technical Picture

This quick technical analysis looks at Piedmont Lithium Inc.’s (PLL) price momentum. With a historical volatility rate of 43.64%, the RSI 9-day stood at 47.23% on 16 September.

With respect to its five-day moving average, the current Piedmont Lithium Inc. price is down by -4.92% percent or -$3.08. At present, PLL shares trade -5.75% below its 20-day simple moving average and -13.39% percent below its 100-day simple moving average. However, the stock is currently trading approximately +59.48% above its SMA50 and -0.95% below its SMA200.

Stochastic coefficient K was 47.86% and Stochastic coefficient D was 55.49%, while ATR was 4.30. Given the Stochastic reading of 34.56% for the 14-day period, the RSI (14) reading has been calculated as 52.06%. As of today, the MACD Oscillator reading stands at -0.32, while the 14-day reading stands at 0.60.

Analyst Ratings

Cowen launched its rating on Piedmont Lithium Inc. (NASDAQ: PLL) to an Outperform in a note to investors on May 23, 2022. Piedmont Lithium Inc. (PLL) has been rated Buy by analysts. According to 0 brokerage firms, PLL is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Piedmont Lithium Inc. stock as buy, with 9 recommending it as overweight.

With a median target price of $95.00, the current consensus forecast for the stock is $85.00 – $140.39. Based on these forecasts, analysts predict Piedmont Lithium Inc. (PLL) will achieve an average price target of $105.27.

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