Sigma Lithium (NASDAQ:SGML) Shares Gap Up - Here's What Happened

Key Points

• Sigma Lithium Corporation shares saw a significant increase, opening at $6.49 after closing at $5.44, marking a significant jump in trading activity.
• The company's stock was upgraded from a "sell" to a "hold" rating by Wall Street Zen, indicating a positive shift in analyst perception.
• Recent investments show strong institutional confidence, with notable increases in stakes from hedge funds, leading to institutional ownership of 64.86% of the company's stock.

Shares of Sigma Lithium Corporation (NASDAQ:SGML - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $5.44, but opened at $6.49. Sigma Lithium shares last traded at $6.47, with a volume of 2,439,632 shares traded.

Analyst Ratings Changes

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

Sigma Lithium Stock Up 22.9%

The firm has a fifty day moving average price of $5.43 and a 200 day moving average price of $7.99. The company has a quick ratio of 0.67, a current ratio of 0.85 and a debt-to-equity ratio of 1.08. The company has a market cap of $743.92 million, a P/E ratio of -18.00 and a beta of 0.07.

Hedge Funds Weigh In On Sigma Lithium

Several large investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its stake in Sigma Lithium by 67.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 74,425 shares of the company's stock valued at $774,000 after buying an additional 30,075 shares during the period. Lighthouse Investment Partners LLC raised its holdings in Sigma Lithium by 78.7% in the 4th quarter. Lighthouse Investment Partners LLC now owns 247,576 shares of the company's stock valued at $2,778,000 after acquiring an additional 109,064 shares in the last quarter. Sourcerock Group LLC raised its holdings in Sigma Lithium by 46.0% in the 4th quarter. Sourcerock Group LLC now owns 1,387,222 shares of the company's stock valued at $15,565,000 after acquiring an additional 437,010 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in Sigma Lithium in the 4th quarter valued at $185,000. Finally, American Century Companies Inc. acquired a new position in Sigma Lithium in the 4th quarter valued at $408,000. 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.

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