Sigma Lithium (NASDAQ:SGML) Trading Up 6.1% - Time to Buy?

Shares of Sigma Lithium Corporation (NASDAQ:SGML - Get Free Report) were up 6.1% during trading on Monday . The stock traded as high as $6.11 and last traded at $5.97. Approximately 605,051 shares changed hands during mid-day trading, a decline of 37% from the average daily volume of 953,041 shares. The stock had previously closed at $5.63.

Analyst Upgrades and Downgrades

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

Sigma Lithium Price Performance

The stock's fifty day moving average is $5.59 and its 200-day moving average is $8.81. The stock has a market capitalization of $672.14 million, a PE ratio of -16.32 and a beta of 0.05. 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 Trading of Sigma Lithium

Hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in Sigma Lithium by 67.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 74,425 shares of the company's stock worth $774,000 after buying an additional 30,075 shares in the last quarter. Norges Bank purchased a new position in Sigma Lithium during the fourth quarter valued at $28,050,000. Lighthouse Investment Partners LLC lifted its holdings in Sigma Lithium by 78.7% during the fourth quarter. Lighthouse Investment Partners LLC now owns 247,576 shares of the company's stock valued at $2,778,000 after purchasing an additional 109,064 shares in the last quarter. Sourcerock Group LLC lifted its holdings in Sigma Lithium by 46.0% during the fourth quarter. Sourcerock Group LLC now owns 1,387,222 shares of the company's stock valued at $15,565,000 after purchasing an additional 437,010 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in Sigma Lithium during the fourth quarter valued at $185,000. 64.86% of the stock is owned by hedge funds and other institutional investors.

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.