Sigma Lithium (NASDAQ:SGML) Trading 6.8% Higher – Still a Buy?

Sigma Lithium Co. (NASDAQ:SGML)’s share price traded up 6.8% on Tuesday . The company traded as high as $10.65 and last traded at $10.98. 25,856 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 503,196 shares. The stock had previously closed at $10.28.

Analyst Ratings Changes

Separately, Bank of America decreased their price target on shares of Sigma Lithium from $25.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th.

Sigma Lithium Price Performance

The company has a market cap of $1.24 billion, a price-to-earnings ratio of -23.28 and a beta of 0.22. The company has a current ratio of 0.84, a quick ratio of 0.72 and a debt-to-equity ratio of 0.02. The company has a fifty day moving average price of $11.76 and a two-hundred day moving average price of $11.91.

Institutional Investors Weigh In On Sigma Lithium

Several institutional investors and hedge funds have recently bought and sold shares of SGML. Appian Way Asset Management LP boosted its position in shares of Sigma Lithium by 57.2% during the 3rd quarter. Appian Way Asset Management LP now owns 4,092,401 shares of the company’s stock valued at $50,582,000 after acquiring an additional 1,488,265 shares in the last quarter. Bridgewater Associates LP bought a new position in Sigma Lithium during the third quarter worth about $4,584,000. The Manufacturers Life Insurance Company boosted its holdings in Sigma Lithium by 848.2% during the third quarter. The Manufacturers Life Insurance Company now owns 354,625 shares of the company’s stock valued at $4,388,000 after purchasing an additional 317,225 shares in the last quarter. Perpetual Ltd bought a new stake in shares of Sigma Lithium in the 3rd quarter valued at approximately $2,096,000. Finally, State Street Corp bought a new stake in shares of Sigma Lithium in the 3rd quarter valued at approximately $1,831,000. 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.