Stock on Demand This Week: Piedmont Lithium Inc. (PLL)

Piedmont Lithium Inc. (NASDAQ:PLL) saw an upside of 1.61% to close Friday at $44.86 after adding $0.71 on the day. The 5-day average trading volume is 398,420 shares of the company’s common stock. It has gained $51.75 in the past week and touched a new high 1 time within the past 5 days. An average of 437,700 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 446,748.

PLL’s 1-month performance is -23.05% or -$13.44 on its low of $43.46 reached on 12/23/22. The company’s shares have touched a 52-week low of $32.08 and high of $79.99, with the stock’s rally to the 52-week high happening on 03/30/22. YTD, PLL has lost -14.49% or -$7.60 and has reached a new high 14 times. However, the current price is down -43.92% from the 52-week high price.

Insider Transactions

PLL stock investors last saw insider trading activity on Nov 08.Phillips Keith D. (President and CEO) most recently sold 7,324 shares at $62.64 per share on Nov 08. This transaction cost the insider $458,751. President and CEO, Phillips Keith D., sold 6,164 shares at a price of $56.79 on Oct 21. Then, on Aug 12, EVP and COO Brindle Patrick sold 4,491 shares at a price of $66.97 per share. This transaction amounted to $300,779.

Valuation Metrics

PLL stock has a beta of 0.94. Moving on to other valuation ratios, the price-to-book (PB) in the most recent quarter is 3.02.

Piedmont Lithium Inc.’s quick ratio for the period ended June 29 was 23.40, with the current ratio over the same period at 23.40.

Earnings Surprise

For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income shrunk -406.6% to $16.66 million, while revenue of -$9.15 million was 154.92% off the previous quarter. Analysts expected PLL to announce -$0.38 per share in earnings in its latest quarter, but it posted -$0.53, representing a -39.50% surprise. EBITDA for the quarter stood at more than -$7.57 million. PLL stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 12.47 million, with total debt at $1.91 million. Shareholders hold equity totaling $0.18 million.

Let’s look briefly at Piedmont Lithium Inc. (PLL) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 23 December was 26.47% to suggest the stock is trending oversold, with historical volatility in this time period at 31.43%.

The stock’s 5-day moving average is $46.01, reflecting a -12.84% or -$6.61 change from its current price. PLL is currently trading -18.66% above its 20-day SMA, -1.43% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -15.36% and SMA200 by-34.04%.

Stochastic %K and %D was 7.62% and 5.77% and the average true range (ATR) pointed at 3.14. The RSI (14) points at 32.89%, while the 14-day stochastic is at 8.46% with the period’s ATR at 3.41. The stock’s 9-day MACD Oscillator is pointing at -4.41 and -6.94 on the 14-day charts.

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