Sigma Lithium (NASDAQ:SGML) Shares Gap Down to $13.98

Sigma Lithium Co. (NASDAQ:SGML)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $13.98, but opened at $13.57. Sigma Lithium shares last traded at $13.49, with a volume of 129,728 shares.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SGML. BMO Capital Markets cut their target price on Sigma Lithium from $38.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, March 27th. Bank of America raised their price objective on Sigma Lithium from $27.00 to $29.00 and gave the company a “buy” rating in a report on Monday, March 18th.

Sigma Lithium Stock Down 2.0 %

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. PenderFund Capital Management Ltd. acquired a new position in shares of Sigma Lithium in the 4th quarter valued at about $32,000. Canton Hathaway LLC acquired a new position in Sigma Lithium during the fourth quarter worth $60,000. Quantbot Technologies LP acquired a new position in shares of Sigma Lithium during the second quarter valued at about $38,000. Tower Research Capital LLC TRC bought a new stake in shares of Sigma Lithium during the third quarter worth about $101,000. Finally, Royal Bank of Canada raised its holdings in shares of Sigma Lithium by 51.4% in the 2nd 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 last quarter. 64.86% of the stock is owned by institutional investors and hedge funds.

Sigma Lithium Company Profile

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.