Sigma Lithium (NASDAQ:SGML) Stock Price Down 5.1% – Here’s Why

Sigma Lithium Co. (NASDAQ:SGML) shares were down 5.1% on Tuesday . The company traded as low as $11.41 and last traded at $11.40. Approximately 234,057 shares traded hands during trading, a decline of 56% from the average daily volume of 531,060 shares. The stock had previously closed at $12.01.

Analysts Set New Price Targets

Separately, Bank of America decreased their price objective 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 Performance

The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.72 and a current ratio of 0.84. The company has a 50 day moving average price of $12.45 and a 200 day moving average price of $12.01. The company has a market capitalization of $1.28 billion, a PE ratio of -23.94 and a beta of 0.23.

Institutional Trading of Sigma Lithium

Institutional investors and hedge funds have recently modified their holdings of the business. Point72 DIFC Ltd acquired a new stake in shares of Sigma Lithium in the second quarter valued at approximately $48,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Sigma Lithium during the second quarter worth $107,000. Public Employees Retirement System of Ohio bought a new stake in Sigma Lithium in the third quarter worth approximately $122,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Sigma Lithium during the 3rd quarter valued at about $299,000. Finally, Tidal Investments LLC increased its stake in shares of Sigma Lithium by 43.4% in the third quarter. Tidal Investments LLC now owns 63,422 shares of the company’s stock worth $784,000 after purchasing an additional 19,193 shares during the period. 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.