Sigma Lithium (NASDAQ:SGML) Shares Gap Up – What’s Next?

Sigma Lithium Co. (NASDAQ:SGML) shares gapped up prior to trading on Tuesday . The stock had previously closed at $13.51, but opened at $13.89. Sigma Lithium shares last traded at $13.78, with a volume of 25,947 shares changing hands.

Analysts Set New Price Targets

Separately, BMO Capital Markets decreased their price target on Sigma Lithium from $25.00 to $20.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th.

Sigma Lithium Stock Performance

The business has a 50 day moving average of $13.04 and a two-hundred day moving average of $12.76. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.96 and a current ratio of 0.84.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Point72 DIFC Ltd bought a new stake in Sigma Lithium during the 2nd quarter worth approximately $48,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Sigma Lithium during the 2nd quarter worth approximately $107,000. Geode Capital Management LLC increased its holdings in Sigma Lithium by 8.4% during the 3rd quarter. Geode Capital Management LLC now owns 117,125 shares of the company’s stock worth $1,448,000 after purchasing an additional 9,049 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Sigma Lithium during the 3rd quarter worth approximately $122,000. Finally, Tidal Investments LLC increased its holdings in Sigma Lithium by 65.9% during the 1st quarter. Tidal Investments LLC now owns 44,241 shares of the company’s stock worth $573,000 after purchasing an additional 17,566 shares in the last quarter. 64.86% of the stock is 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.