Sigma Lithium (NASDAQ:SGML) Downgraded by Wall Street Zen to “Sell”

Sigma Lithium (NASDAQ:SGML) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Sigma Lithium Trading Up 13.3%

Shares of SGML stock opened at $6.40 on Friday. The firm has a 50 day moving average price of $5.54 and a two-hundred day moving average price of $7.87. The company has a quick ratio of 0.67, a current ratio of 0.85 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $712.38 million, a PE ratio of -17.30 and a beta of 0.07. Sigma Lithium has a 12-month low of $4.25 and a 12-month high of $15.56.

Institutional Investors Weigh In On Sigma Lithium

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC acquired a new stake in shares of Sigma Lithium in the first quarter valued at approximately $139,000. Alliancebernstein L.P. raised its position in shares of Sigma Lithium by 10.9% in the fourth quarter. Alliancebernstein L.P. now owns 17,390 shares of the company’s stock valued at $195,000 after buying an additional 1,710 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of Sigma Lithium in the fourth quarter valued at approximately $27,000. BNP Paribas Financial Markets raised its position in shares of Sigma Lithium by 15.9% in the second quarter. BNP Paribas Financial Markets now owns 21,897 shares of the company’s stock valued at $99,000 after buying an additional 3,005 shares in the last quarter. Finally, CenterBook Partners LP raised its position in shares of Sigma Lithium by 3.0% in the first quarter. CenterBook Partners LP now owns 157,982 shares of the company’s stock valued at $1,643,000 after buying an additional 4,530 shares in the last quarter. 64.86% of the stock is currently owned by institutional investors and hedge funds.

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.