Sigma Lithium (NASDAQ:SGML) Shares Down 6.1%

Sigma Lithium Co. (NASDAQ:SGML)’s stock price fell 6.1% during mid-day trading on Thursday . The stock traded as low as $12.65 and last traded at $12.67. 107,130 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 1,361,212 shares. The stock had previously closed at $13.50.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SGML. Bank of America raised their target price on Sigma Lithium from $27.00 to $29.00 and gave the company a “buy” rating in a research note on Monday, March 18th. BMO Capital Markets decreased their target price on Sigma Lithium from $38.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, March 27th.

Sigma Lithium Price Performance

The company has a 50 day moving average of $13.85 and a two-hundred day moving average of $22.26. The firm has a market cap of $1.52 billion, a P/E ratio of -18.49 and a beta of 0.29. The company has a quick ratio of 1.32, a current ratio of 1.54 and a debt-to-equity ratio of 0.02.

Hedge Funds Weigh In On Sigma Lithium

A number of hedge funds and other institutional investors have recently modified their holdings of SGML. JPMorgan Chase & Co. acquired a new position in shares of Sigma Lithium in the 1st quarter valued at $207,000. BlackRock Inc. acquired a new position in shares of Sigma Lithium in the 1st quarter valued at $1,123,000. UBS Group AG boosted its position in shares of Sigma Lithium by 352.2% in the 1st quarter. UBS Group AG now owns 39,834 shares of the company’s stock valued at $541,000 after purchasing an additional 31,026 shares during the period. Virtu Financial LLC acquired a new position in shares of Sigma Lithium in the 1st quarter valued at $252,000. Finally, Bank of America Corp DE boosted its position in shares of Sigma Lithium by 74,026.6% in the 1st quarter. Bank of America Corp DE now owns 47,441 shares of the company’s stock valued at $645,000 after purchasing an additional 47,377 shares during the period. 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.