Skandinaviska Enskilda Banken AB publ Trims Stock Position in Sigma Lithium Co. (NASDAQ:SGML)

Skandinaviska Enskilda Banken AB publ trimmed its holdings in Sigma Lithium Co. (NASDAQ:SGML) by 30.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 62,692 shares of the company’s stock after selling 27,436 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Sigma Lithium were worth $693,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its stake in shares of Sigma Lithium by 848.2% in the third quarter. The Manufacturers Life Insurance Company now owns 354,625 shares of the company’s stock worth $4,388,000 after buying an additional 317,225 shares during the last quarter. Bridgewater Associates LP acquired a new position in Sigma Lithium in the third quarter valued at approximately $4,584,000. Appian Way Asset Management LP boosted its position in Sigma Lithium by 57.2% in the 3rd quarter. Appian Way Asset Management LP now owns 4,092,401 shares of the company’s stock worth $50,582,000 after purchasing an additional 1,488,265 shares in the last quarter. Polar Asset Management Partners Inc. boosted its position in Sigma Lithium by 22.0% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 246,500 shares of the company’s stock worth $3,047,000 after purchasing an additional 44,400 shares in the last quarter. Finally, State Street Corp acquired a new stake in shares of Sigma Lithium during the 3rd quarter worth approximately $1,831,000. 64.86% of the stock is owned by institutional investors and hedge funds.

Sigma Lithium Price Performance

NASDAQ:SGML opened at $12.14 on Tuesday. The company has a quick ratio of 0.72, a current ratio of 0.84 and a debt-to-equity ratio of 0.02. Sigma Lithium Co. has a 52 week low of $8.47 and a 52 week high of $19.20. The stock’s 50-day moving average price is $11.42 and its 200-day moving average price is $12.12. The stock has a market capitalization of $1.35 billion, a PE ratio of -25.29 and a beta of 0.21.

Wall Street Analysts Forecast Growth

Separately, Bank of America decreased their target price on shares of Sigma Lithium from $25.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th.

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.