Sigma Lithium (NASDAQ:SGML) Shares Up 8.4% - Time to Buy?

Sigma Lithium Corporation (NASDAQ:SGML - Get Free Report)'s stock price traded up 8.4% during trading on Wednesday . The stock traded as high as $4.70 and last traded at $4.72. 504,221 shares traded hands during trading, a decline of 43% from the average session volume of 887,152 shares. The stock had previously closed at $4.35.

Wall Street Analysts Forecast Growth

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

Sigma Lithium Stock Performance

The stock has a market cap of $573.65 million, a P/E ratio of -13.93 and a beta of 0.05. The company has a fifty day moving average of $5.86 and a 200 day moving average of $9.03. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.85 and a quick ratio of 0.67.

Institutional Investors Weigh In On Sigma Lithium

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SGML. Goldman Sachs Group Inc. grew its position in Sigma Lithium by 9.4% in the first quarter. Goldman Sachs Group Inc. now owns 113,299 shares of the company's stock worth $1,178,000 after buying an additional 9,748 shares during the last quarter. Woodline Partners LP increased its holdings in shares of Sigma Lithium by 65.6% in the first quarter. Woodline Partners LP now owns 2,678,444 shares of the company's stock valued at $27,856,000 after buying an additional 1,060,771 shares in the last quarter. Ascent Group LLC bought a new position in shares of Sigma Lithium in the first quarter valued at $264,000. Amundi bought a new position in shares of Sigma Lithium in the first quarter valued at $2,478,000. Finally, Adage Capital Partners GP L.L.C. increased its holdings in shares of Sigma Lithium by 95.6% in the first quarter. Adage Capital Partners GP L.L.C. now owns 440,000 shares of the company's stock valued at $4,576,000 after buying an additional 215,000 shares in the last quarter. Institutional investors 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.