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

Sigma Lithium Co. (NASDAQ:SGML)’s stock price gapped up before the market opened 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.

Analysts Set New Price Targets

A number of analysts have commented on SGML shares. Bank of America upped their price target on Sigma Lithium from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. BMO Capital Markets reduced their target price 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 Stock Performance

The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.32 and a current ratio of 1.54. The company’s 50-day moving average price is $13.85 and its 200 day moving average price is $22.45.

Institutional Investors Weigh In On Sigma Lithium

A number of institutional investors and hedge funds have recently bought and sold shares of SGML. PenderFund Capital Management Ltd. bought a new position in shares of Sigma Lithium in the fourth quarter worth about $32,000. Canton Hathaway LLC bought a new position in shares of Sigma Lithium in the fourth quarter worth about $60,000. Quantbot Technologies LP bought a new position in shares of Sigma Lithium in the second quarter worth about $38,000. Tower Research Capital LLC TRC bought a new position in shares of Sigma Lithium in the third quarter worth about $101,000. Finally, Royal Bank of Canada boosted its stake in shares of Sigma Lithium by 51.4% in the second quarter. Royal Bank of Canada now owns 4,320 shares of the company’s stock worth $174,000 after acquiring an additional 1,467 shares during the period. 64.86% of the stock is owned by institutional investors.

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.