Sigma Lithium (NASDAQ:SGML) Trading 7.6% Higher - Time to Buy?

Sigma Lithium Corporation (NASDAQ:SGML - Get Free Report)'s share price shot up 7.6% on Tuesday . The company traded as high as $5.44 and last traded at $5.47. 424,350 shares were traded during mid-day trading, a decline of 54% from the average session volume of 913,174 shares. The stock had previously closed at $5.08.

Wall Street Analyst Weigh In

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

Sigma Lithium Trading Down 0.4%

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 stock has a market capitalization of $623.74 million, a P/E ratio of -15.09 and a beta of 0.05. The firm's 50 day simple moving average is $5.64 and its two-hundred day simple moving average is $8.88.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SGML. Bank of New York Mellon Corp acquired a new position in shares of Sigma Lithium during the fourth quarter valued at about $728,000. American Century Companies Inc. acquired a new position in shares of Sigma Lithium during the fourth quarter valued at about $408,000. JPMorgan Chase & Co. boosted its holdings in Sigma Lithium by 13,614.9% during the fourth quarter. JPMorgan Chase & Co. now owns 33,053 shares of the company's stock worth $371,000 after purchasing an additional 32,812 shares during the last quarter. Norges Bank purchased a new position in Sigma Lithium during the fourth quarter worth about $28,050,000. Finally, Pictet Asset Management Holding SA purchased a new position in Sigma Lithium during the fourth quarter worth about $142,000. 64.86% of the stock is currently owned by institutional investors and hedge funds.

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.