Sigma Lithium (NASDAQ:SGML) Shares Gap Up to $14.65

Sigma Lithium Co. (NASDAQ:SGML) gapped up prior to trading on Monday . The stock had previously closed at $14.65, but opened at $15.32. Sigma Lithium shares last traded at $15.10, with a volume of 76,020 shares changing hands.

Wall Street Analyst Weigh In

SGML has been the subject of a number of research reports. Bank of America raised their price objective on shares of Sigma Lithium from $27.00 to $29.00 and gave the company a “buy” rating in a report on Monday, March 18th. BMO Capital Markets dropped their price objective on shares of Sigma Lithium from $38.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, March 27th.

Sigma Lithium Price Performance

The company has a current ratio of 1.54, a quick ratio of 1.32 and a debt-to-equity ratio of 0.02. The firm’s fifty day simple moving average is $13.85 and its 200-day simple moving average is $22.45.

Institutional Trading of Sigma Lithium

Several hedge funds have recently modified their holdings of SGML. Electron Capital Partners LLC bought a new stake in shares of Sigma Lithium in the 4th quarter valued at $69,703,000. Frontier Capital Management Co. LLC bought a new stake in shares of Sigma Lithium in the 1st quarter valued at $40,117,000. Norges Bank bought a new stake in shares of Sigma Lithium in the 4th quarter valued at $17,608,000. Principal Financial Group Inc. bought a new stake in shares of Sigma Lithium in the 3rd quarter valued at $9,605,000. Finally, SIR Capital Management L.P. increased its stake in shares of Sigma Lithium by 199.5% in the 4th quarter. SIR Capital Management L.P. now owns 427,946 shares of the company’s stock valued at $12,077,000 after acquiring an additional 285,062 shares in the last quarter. Institutional investors 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.