Sigma Lithium (NASDAQ:SGML) Stock Price Down 6.1%

Sigma Lithium Co. (NASDAQ:SGML)’s stock price traded down 6.1% during trading on Thursday . The stock traded as low as $13.91 and last traded at $14.06. 985,288 shares changed hands during trading, a decline of 32% from the average session volume of 1,452,305 shares. The stock had previously closed at $14.97.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. BMO Capital Markets dropped their price target on Sigma Lithium from $38.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, March 27th. Bank of America upped their price target on Sigma Lithium from $27.00 to $29.00 and gave the company a “buy” rating in a research report on Monday, March 18th.

Sigma Lithium Stock Performance

The business has a fifty day moving average of $14.34 and a 200 day moving average of $23.44. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.54 and a quick ratio of 1.32.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Nucleo Capital LTDA. lifted its holdings in Sigma Lithium by 10.5% in the third quarter. Nucleo Capital LTDA. now owns 2,796,227 shares of the company’s stock valued at $90,710,000 after acquiring an additional 266,298 shares during the last quarter. Frontier Capital Management Co. LLC lifted its stake in Sigma Lithium by 26.0% during the fourth quarter. Frontier Capital Management Co. LLC now owns 2,258,218 shares of the company’s stock worth $71,202,000 after purchasing an additional 466,688 shares in the last quarter. Electron Capital Partners LLC acquired a new position in Sigma Lithium during the fourth quarter worth $69,703,000. Van ECK Associates Corp lifted its stake in Sigma Lithium by 13.4% during the third quarter. Van ECK Associates Corp now owns 887,543 shares of the company’s stock worth $28,791,000 after purchasing an additional 104,630 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Sigma Lithium by 23.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 718,536 shares of the company’s stock worth $22,655,000 after purchasing an additional 134,389 shares in the last quarter. 64.86% of the stock is currently owned by institutional investors and hedge funds.

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.