Does Macquarie rate Pilbara Minerals shares a buy, hold, or sell?

Pilbara Minerals Ltd (ASX: PLS) shares have had a red-hot 6 months, flying 127% higher in that time. 

For context, the S&P/ASX 200 Materials Index (ASX: XMJ) is up roughly 23% in that same period. 

Like many lithium stocks, it has had a volatile track record over…