Sigma Lithium (NASDAQ:SGML) Shares Down 4.3%

Sigma Lithium Co. (NASDAQ:SGMLGet Free Report)’s stock price dropped 4.3% during trading on Wednesday . The stock traded as low as $16.83 and last traded at $17.17. Approximately 245,419 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 1,248,614 shares. The stock had previously closed at $17.94.

Wall Street Analyst Weigh In

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

Check Out Our Latest Analysis on SGML

Sigma Lithium Stock Performance

The company has a quick ratio of 1.01, a current ratio of 1.17 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of -61.86 and a beta of 0.24. The business has a 50-day moving average price of $14.39 and a 200-day moving average price of $20.60.

Institutional Investors Weigh In On Sigma Lithium

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. purchased a new position in Sigma Lithium during the third quarter valued at approximately $9,605,000. Van ECK Associates Corp increased its holdings in Sigma Lithium by 13.4% in the third quarter. Van ECK Associates Corp now owns 887,543 shares of the company’s stock valued at $28,791,000 after buying an additional 104,630 shares in the last quarter. Citigroup Inc. purchased a new position in Sigma Lithium in the third quarter valued at $423,000. Nucleo Capital LTDA. boosted its stake in shares of Sigma Lithium by 10.5% during the 3rd quarter. Nucleo Capital LTDA. now owns 2,796,227 shares of the company’s stock worth $90,710,000 after acquiring an additional 266,298 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of Sigma Lithium by 9.2% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 643,879 shares of the company’s stock worth $20,988,000 after acquiring an additional 54,268 shares in the last quarter. 64.86% of the stock is currently owned by hedge funds and other institutional investors.

Sigma Lithium Company Profile

(Get Free Report)

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.

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