Sigma Lithium (NASDAQ:SGML) Shares Gap Up – What’s Next?

Sigma Lithium Co. (NASDAQ:SGML)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $13.51, but opened at $13.89. Sigma Lithium shares last traded at $13.78, with a volume of 25,947 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets dropped their price objective on Sigma Lithium from $25.00 to $20.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th.

Sigma Lithium Price Performance

The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.96 and a current ratio of 0.84. The company has a 50 day simple moving average of $13.04 and a 200-day simple moving average of $12.76.

Institutional Investors Weigh In On Sigma Lithium

Several hedge funds have recently added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new position in shares of Sigma Lithium in the second quarter worth about $48,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Sigma Lithium in the second quarter worth about $107,000. Public Employees Retirement System of Ohio purchased a new position in shares of Sigma Lithium in the third quarter worth about $122,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Sigma Lithium in the third quarter worth about $299,000. Finally, Tidal Investments LLC increased its holdings in shares of Sigma Lithium by 65.9% in the first quarter. Tidal Investments LLC now owns 44,241 shares of the company’s stock worth $573,000 after buying an additional 17,566 shares during the period. Institutional investors own 64.86% of the company’s stock.

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.