Sigma Lithium Co. (NASDAQ:SGML) Shares Bought by Appian Way Asset Management LP

Appian Way Asset Management LP increased its position in shares of Sigma Lithium Co. (NASDAQ:SGML) by 57.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,092,401 shares of the company’s stock after acquiring an additional 1,488,265 shares during the period. Sigma Lithium comprises 11.4% of Appian Way Asset Management LP’s holdings, making the stock its 3rd largest holding. Appian Way Asset Management LP owned approximately 3.68% of Sigma Lithium worth $50,582,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of Sigma Lithium during the second quarter worth $672,000. Perpetual Ltd bought a new stake in shares of Sigma Lithium during the third quarter worth about $2,096,000. Fourth Sail Capital LP raised its holdings in Sigma Lithium by 1,572.2% in the 2nd quarter. Fourth Sail Capital LP now owns 3,134,797 shares of the company’s stock valued at $37,712,000 after buying an additional 2,947,331 shares during the last quarter. Millennium Management LLC boosted its position in Sigma Lithium by 16.9% during the 2nd quarter. Millennium Management LLC now owns 1,243,579 shares of the company’s stock worth $14,960,000 after buying an additional 179,355 shares during the period. Finally, Van ECK Associates Corp raised its stake in shares of Sigma Lithium by 13.6% during the second quarter. Van ECK Associates Corp now owns 1,201,612 shares of the company’s stock valued at $14,455,000 after acquiring an additional 143,696 shares during the last quarter. 64.86% of the stock is currently owned by institutional investors and hedge funds.

Sigma Lithium Stock Performance

NASDAQ:SGML opened at $13.76 on Friday. The firm has a market capitalization of $1.53 billion, a P/E ratio of -28.67 and a beta of 0.16. Sigma Lithium Co. has a twelve month low of $8.47 and a twelve month high of $34.31. The company has a fifty day moving average of $13.55 and a 200-day moving average of $12.66. The company has a quick ratio of 0.72, a current ratio of 0.84 and a debt-to-equity ratio of 0.02.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets lowered their target price on Sigma Lithium from $25.00 to $20.00 and set an “outperform” rating for the company in a research report on Monday, August 19th.

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.