Sigma Lithium (NASDAQ:SGML) Trading 6.6% Higher

Sigma Lithium Co. (NASDAQ:SGML - Get Free Report)'s share price was up 6.6% during mid-day trading on Monday . The stock traded as high as $14.07 and last traded at $13.82. Approximately 249,275 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 1,422,467 shares. The stock had previously closed at $12.96.

Analysts Set New Price Targets

SGML has been the topic of several recent research reports. BMO Capital Markets cut their target price on shares of Sigma Lithium from $38.00 to $30.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 27th. Bank of America lifted their price target on shares of Sigma Lithium from $27.00 to $29.00 and gave the stock a "buy" rating in a report on Monday, March 18th.

Sigma Lithium Trading Up 8.9 %

The company has a quick ratio of 1.32, a current ratio of 1.54 and a debt-to-equity ratio of 0.02. The company has a market cap of $1.56 billion, a price-to-earnings ratio of -19.33 and a beta of 0.29. The firm has a 50 day moving average price of $15.02 and a two-hundred day moving average price of $23.90.

Institutional Trading of Sigma Lithium

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in shares of Sigma Lithium by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 92,582 shares of the company's stock valued at $3,731,000 after purchasing an additional 342 shares during the last quarter. PenderFund Capital Management Ltd. bought a new stake in Sigma Lithium during the fourth quarter valued at $32,000. Activest Wealth Management bought a new stake in Sigma Lithium during the third quarter valued at $35,000. Mariner LLC grew its holdings in Sigma Lithium by 21.5% during the 3rd quarter. Mariner LLC now owns 7,501 shares of the company's stock worth $243,000 after acquiring an additional 1,327 shares during the period. Finally, Royal Bank of Canada raised its position in shares of Sigma Lithium by 51.4% in the 2nd quarter. Royal Bank of Canada now owns 4,320 shares of the company's stock worth $174,000 after acquiring an additional 1,467 shares in the last quarter. Institutional investors and hedge funds own 64.86% of the company's stock.

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.