While Piedmont Lithium Inc has underperformed by -0.80%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, PLL fell by -75.88%, with highs and lows ranging from $65.72 to $11.27, whereas the simple moving average fell by -62.57% in the last 200 days.
On February 23, 2024, BTIG Research Downgraded Piedmont Lithium Inc (NASDAQ: PLL) to Neutral. A report published by BMO Capital Markets on February 16, 2024, Initiated its previous ‘Market Perform’ rating for PLL. TD Cowen also Downgraded PLL shares as ‘Market Perform’, setting a target price of $20 on the company’s shares in a report dated January 29, 2024. JP Morgan Initiated an Neutral rating on December 11, 2023, and assigned a price target of $25. Macquarie initiated its ‘Outperform’ rating for PLL, as published in its report on March 08, 2023. B. Riley Securities’s report from October 27, 2022 suggests a price prediction of $108 for PLL shares, giving the stock a ‘Buy’ rating. Cowen also rated the stock as ‘Outperform’.
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Analysis of Piedmont Lithium Inc (PLL)
To gain a thorough understanding of Piedmont Lithium Inc’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of -4.57% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 2.85, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and PLL is recording an average volume of 664.33K. On a monthly basis, the volatility of the stock is set at 7.59%, whereas on a weekly basis, it is put at 5.18%, with a loss of -5.59% over the past seven days. Furthermore, long-term investors anticipate a median target price of $34.39, showing growth from the present price of $13.68, which can serve as yet another indication of whether PLL is worth investing in or should be passed over.
How Do You Analyze Piedmont Lithium Inc Shares?
The number of employees owning shares of the company should also be considered in addition to the fundamentals. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 7.52%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 53.78% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
PLL shares are owned by institutional investors to the tune of 53.78% at present.
