Sigma Lithium (NASDAQ:SGML) Trading Down 7.1% - Here's What Happened

Key Points

• Sigma Lithium's shares have declined by 7.1%, trading at $6.21 after previously closing at $6.68, with a notable drop in trading volume.
• Wall Street Zen has upgraded Sigma Lithium from a "sell" to a "hold" rating, indicating a shift in investor sentiment.
• Institutional investors own approximately 64.86% of Sigma Lithium's stock, with several firms significantly increasing their holdings in recent quarters.

Sigma Lithium Corporation (NASDAQ:SGML - Get Free Report)'s share price fell 7.1% during trading on Tuesday . The company traded as low as $6.20 and last traded at $6.21. 1,112,552 shares traded hands during mid-day trading, a decline of 17% from the average session volume of 1,340,325 shares. The stock had previously closed at $6.68.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Sigma Lithium from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd.

Sigma Lithium Stock Performance

The firm has a market cap of $628.90 million, a P/E ratio of -15.27 and a beta of 0.07. The company has a current ratio of 0.85, a quick ratio of 0.67 and a debt-to-equity ratio of 1.08. The company's 50-day moving average is $5.52 and its two-hundred day moving average is $7.90.

Hedge Funds Weigh In On Sigma Lithium

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC bought a new position in Sigma Lithium in the 1st quarter valued at about $139,000. Aquatic Capital Management LLC bought a new stake in Sigma Lithium in the 4th quarter worth about $27,000. Teacher Retirement System of Texas bought a new stake in Sigma Lithium in the 1st quarter worth about $109,000. Malaga Cove Capital LLC bought a new stake in Sigma Lithium in the 2nd quarter worth about $52,000. Finally, Squarepoint Ops LLC bought a new stake in Sigma Lithium in the 4th quarter worth about $150,000. 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.