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

Sigma Lithium Co. (NASDAQ:SGML) shares gapped down before the market opened 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 changing hands.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Bank of America lifted their target price on Sigma Lithium from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. BMO Capital Markets lowered their target price on Sigma Lithium from $38.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, March 27th.

Sigma Lithium Stock Down 2.0 %

The company’s 50-day simple moving average is $13.85 and its 200 day simple moving average is $22.45. The company has a current ratio of 1.54, a quick ratio of 1.32 and a debt-to-equity ratio of 0.02.

Hedge Funds Weigh In On Sigma Lithium

A number of large investors have recently made changes to their positions in SGML. Nucleo Capital LTDA. raised its stake in Sigma Lithium by 10.5% in the third quarter. Nucleo Capital LTDA. now owns 2,796,227 shares of the company’s stock valued at $90,710,000 after buying an additional 266,298 shares during the last quarter. Frontier Capital Management Co. LLC grew its position in Sigma Lithium by 26.0% during the 4th quarter. Frontier Capital Management Co. LLC now owns 2,258,218 shares of the company’s stock worth $71,202,000 after purchasing an additional 466,688 shares during the last quarter. Electron Capital Partners LLC acquired a new stake in shares of Sigma Lithium during the fourth quarter worth $69,703,000. Van ECK Associates Corp lifted its stake in shares of Sigma Lithium by 13.4% during the third quarter. Van ECK Associates Corp now owns 887,543 shares of the company’s stock worth $28,791,000 after buying an additional 104,630 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Sigma Lithium by 23.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 718,536 shares of the company’s stock valued at $22,655,000 after acquiring an additional 134,389 shares during the period. 64.86% of the stock is owned by institutional investors and hedge funds.

Sigma Lithium Company Profile

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.