Sigma Lithium (NASDAQ:SGML) Stock Price Down 6.1%

Sigma Lithium Co. (NASDAQ:SGML) shares were down 6.1% on Thursday . The company traded as low as $12.65 and last traded at $12.67. Approximately 107,130 shares were traded during trading, a decline of 92% from the average daily volume of 1,361,212 shares. The stock had previously closed at $13.50.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Bank of America upped their price objective on shares of Sigma Lithium from $27.00 to $29.00 and gave the stock a “buy” rating in a report on Monday, March 18th. BMO Capital Markets cut their target price on Sigma Lithium from $38.00 to $30.00 and set an “outperform” rating on the stock in a research 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 has a market capitalization of $1.48 billion, a price-to-earnings ratio of -18.29 and a beta of 0.29. The firm has a 50-day simple moving average of $13.83 and a two-hundred day simple moving average of $22.20.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Nucleo Capital LTDA. grew its stake in shares of Sigma Lithium by 10.5% in the third quarter. Nucleo Capital LTDA. now owns 2,796,227 shares of the company’s stock worth $90,710,000 after acquiring an additional 266,298 shares in the last quarter. Frontier Capital Management Co. LLC grew its stake in Sigma Lithium by 26.0% during the 4th quarter. Frontier Capital Management Co. LLC now owns 2,258,218 shares of the company’s stock worth $71,202,000 after purchasing an additional 466,688 shares in the last quarter. Electron Capital Partners LLC purchased a new stake in Sigma Lithium during the 4th quarter worth about $69,703,000. Van ECK Associates Corp raised its position in Sigma Lithium by 13.4% in the 3rd quarter. Van ECK Associates Corp now owns 887,543 shares of the company’s stock valued at $28,791,000 after purchasing an additional 104,630 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Sigma Lithium by 23.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 718,536 shares of the company’s stock valued at $22,655,000 after buying an additional 134,389 shares during the period. Institutional investors and hedge funds 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.