Sigma Lithium (NASDAQ:SGML) Shares Gap Down to $13.98

Sigma Lithium Co. (NASDAQ:SGML) gapped down prior to trading on Tuesday . The stock had previously closed at $13.98, but opened at $13.57. Sigma Lithium shares last traded at $13.49, with a volume of 129,728 shares traded.

Analysts Set New Price Targets

A number of analysts have recently commented on SGML shares. BMO Capital Markets reduced their price target on shares of Sigma Lithium from $38.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, March 27th. Bank of America increased their price objective on shares of Sigma Lithium from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Monday, March 18th.

Sigma Lithium Price Performance

The firm has a 50 day moving average price of $13.85 and a 200 day moving average price of $22.26. The stock has a market capitalization of $1.49 billion, a PE ratio of -18.49 and a beta of 0.29. The company has a current ratio of 1.54, a quick ratio of 1.32 and a debt-to-equity ratio of 0.02.

Institutional Trading of Sigma Lithium

Hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its position in shares of Sigma Lithium by 0.4% during the 2nd quarter. Geode Capital Management LLC now owns 92,582 shares of the company’s stock valued at $3,731,000 after buying an additional 342 shares in the last quarter. PenderFund Capital Management Ltd. bought a new stake in Sigma Lithium during the 4th quarter worth approximately $32,000. Mariner LLC lifted its holdings in Sigma Lithium by 21.5% during the third quarter. Mariner LLC now owns 7,501 shares of the company’s stock valued at $243,000 after purchasing an additional 1,327 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Sigma Lithium by 51.4% in the second quarter. Royal Bank of Canada now owns 4,320 shares of the company’s stock worth $174,000 after purchasing an additional 1,467 shares during the period. Finally, National Bank of Canada FI raised its position in shares of Sigma Lithium by 1.1% during the 4th quarter. National Bank of Canada FI now owns 154,496 shares of the company’s stock valued at $4,665,000 after purchasing an additional 1,699 shares during the period. Institutional investors own 64.86% of the company’s stock.

About Sigma Lithium

Sigma Lithium Corporation engages in the exploration and development of lithium deposits in Brazil. It holds a 100% interest in the Grota do Cirilo, Genipapo, Santa Clara, and São José properties comprising 29 mineral rights covering an area of approximately 185 square kilometers located in the Araçuaí and Itinga regions of the state of Minas Gerais, Brazil.