Sigma Lithium (NASDAQ:SGML) Shares Gap Up to $12.16

Sigma Lithium Co. (NASDAQ:SGML) shares gapped up prior to trading on Thursday . The stock had previously closed at $12.16, but opened at $12.51. Sigma Lithium shares last traded at $12.40, with a volume of 85,684 shares changing hands.

Wall Street Analyst Weigh In

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

Sigma Lithium Trading Up 5.8 %

The company has a debt-to-equity ratio of 0.02, a current ratio of 1.54 and a quick ratio of 1.32. The business has a 50-day moving average of $15.66 and a 200 day moving average of $24.43.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. acquired a new stake in shares of Sigma Lithium during the first quarter valued at approximately $207,000. BlackRock Inc. acquired a new stake in shares of Sigma Lithium in the first quarter valued at approximately $1,123,000. UBS Group AG boosted its position in Sigma Lithium by 352.2% during the first quarter. UBS Group AG now owns 39,834 shares of the company’s stock worth $541,000 after purchasing an additional 31,026 shares during the period. Virtu Financial LLC bought a new stake in shares of Sigma Lithium in the first quarter valued at about $252,000. Finally, Bank of America Corp DE lifted its position in Sigma Lithium by 74,026.6% during the first quarter. Bank of America Corp DE now owns 47,441 shares of the company’s stock worth $645,000 after purchasing an additional 47,377 shares during the period. 64.86% of the stock is owned by hedge funds and other institutional investors.

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.