Sigma Lithium Corporation (NASDAQ:SGML) Short Interest Down 14.1% in February

Sigma Lithium Corporation (NASDAQ:SGML) was the recipient of a significant decline in short interest during the month of February. As of February 27th, there was short interest totaling 8,197,736 shares, a decline of 14.1% from the February 12th total of 9,543,463 shares. Based on an average trading volume of 3,943,413 shares, the short-interest ratio is currently 2.1 days. Currently, 14.3% of the shares of the stock are short sold. Currently, 14.3% of the shares of the stock are short sold. Based on an average trading volume of 3,943,413 shares, the short-interest ratio is currently 2.1 days.

Institutional Investors Weigh In On Sigma Lithium

A number of institutional investors have recently modified their holdings of the company. Van ECK Associates Corp increased its position in shares of Sigma Lithium by 142.8% during the third quarter. Van ECK Associates Corp now owns 4,606,668 shares of the company’s stock worth $29,529,000 after buying an additional 2,709,397 shares during the period. Norges Bank acquired a new position in Sigma Lithium in the second quarter valued at $11,250,000. Legal & General Group Plc boosted its position in Sigma Lithium by 101.7% during the fourth quarter. Legal & General Group Plc now owns 2,647,004 shares of the company’s stock valued at $34,911,000 after acquiring an additional 1,334,772 shares during the last quarter. Encompass Capital Advisors LLC bought a new position in shares of Sigma Lithium in the 4th quarter worth about $16,463,000. Finally, CenterBook Partners LP lifted its stake in shares of Sigma Lithium by 416.8% in the 2nd quarter. CenterBook Partners LP now owns 816,515 shares of the company’s stock valued at $3,674,000 after purchasing an additional 658,533 shares during the period. 64.86% of the stock is owned by institutional investors.

Sigma Lithium Price Performance

Sigma Lithium stock opened at $11.34 on Tuesday. The stock’s 50 day moving average is $13.18 and its 200 day moving average is $10.00. Sigma Lithium has a one year low of $4.25 and a one year high of $16.88. The firm has a market cap of $1.26 billion, a P/E ratio of -36.58, a P/E/G ratio of 0.25 and a beta of -0.06. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.49 and a quick ratio of 0.32.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SGML shares. Zacks Research raised shares of Sigma Lithium from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 25th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $18.00 target price on shares of Sigma Lithium in a report on Wednesday, January 14th. Citigroup downgraded Sigma Lithium from an “overweight” rating to an “underperform” rating in a research report on Thursday, January 8th. Weiss Ratings restated a “sell (e+)” rating on shares of Sigma Lithium in a report on Monday, December 29th. Finally, Canaccord Genuity Group raised Sigma Lithium from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $17.50.

Sigma Lithium Company Profile

Sigma Lithium Corp. is a Canada-based mineral exploration and development company focused on the sustainable production of battery-grade lithium from hard rock deposits. The company’s flagship asset is the Grota do Cirilo lithium project, located in the state of Minas Gerais, Brazil. Grota do Cirilo comprises a fully permitted, low-altitude spodumene mine and processing plant designed to produce high-purity lithium concentrate and downstream lithium hydroxide for the global electric vehicle and energy storage markets.

Since its founding in 2018, Sigma Lithium has pursued a vertically integrated approach, overseeing each stage of production from ore extraction and beneficiation to chemical conversion.