Sigma Lithium (NASDAQ:SGML) Trading 6.8% Higher – Here’s What Happened

Sigma Lithium Co. (NASDAQ:SGML) rose 6.8% during trading on Tuesday . The stock traded as high as $10.65 and last traded at $10.98. Approximately 25,856 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 503,196 shares. The stock had previously closed at $10.28.

Analyst Ratings Changes

Separately, Bank of America dropped their target price on shares of Sigma Lithium from $25.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th.

Sigma Lithium Stock Up 11.5 %

The stock has a market cap of $1.28 billion, a PE ratio of -23.84 and a beta of 0.22. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.84 and a quick ratio of 0.72. The company has a 50 day moving average price of $11.86 and a two-hundred day moving average price of $11.92.

Hedge Funds Weigh In On Sigma Lithium

A number of hedge funds have recently added to or reduced their stakes in SGML. Public Employees Retirement System of Ohio bought a new position in Sigma Lithium in the third quarter worth about $122,000. Handelsbanken Fonder AB purchased a new position in shares of Sigma Lithium during the fourth quarter worth $160,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Sigma Lithium in the third quarter worth about $299,000. Tidal Investments LLC increased its holdings in shares of Sigma Lithium by 43.4% during the 3rd quarter. Tidal Investments LLC now owns 63,422 shares of the company’s stock valued at $784,000 after purchasing an additional 19,193 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in Sigma Lithium by 100.8% in the third quarter. SG Americas Securities LLC now owns 112,242 shares of the company’s stock valued at $1,387,000 after buying an additional 56,347 shares in the last quarter. 64.86% of the stock is currently owned by institutional investors.

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.