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

Sigma Lithium Co. (NASDAQ:SGML)’s share price fell 6.1% during trading on Thursday . The company 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.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. BMO Capital Markets decreased their price target on shares of 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 increased their target price on shares of 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 Trading Down 0.4 %

The company has a 50 day moving average of $13.83 and a two-hundred day moving average of $22.20. The stock has a market capitalization of $1.48 billion, a PE ratio of -18.29 and a beta of 0.29. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.32 and a current ratio of 1.54.

Institutional Investors Weigh In On Sigma Lithium

Several institutional investors have recently added to or reduced their stakes in SGML. JPMorgan Chase & Co. purchased a new position in shares of Sigma Lithium in the 1st quarter valued at approximately $207,000. BlackRock Inc. acquired a new stake in shares of Sigma Lithium during the first quarter worth $1,123,000. UBS Group AG grew its holdings in shares of Sigma Lithium by 352.2% during the first quarter. UBS Group AG now owns 39,834 shares of the company’s stock valued at $541,000 after buying an additional 31,026 shares during the last quarter. 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 raised its stake in 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 worth $645,000 after acquiring an additional 47,377 shares during the last quarter. Institutional investors and hedge funds own 64.86% of the company’s stock.

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.