Sigma Lithium (NASDAQ:SGML) Shares Gap Down – Should You Sell?

Shares of Sigma Lithium Co. (NASDAQ:SGML) gapped down prior to trading on Thursday . The stock had previously closed at $14.46, but opened at $14.08. Sigma Lithium shares last traded at $14.13, with a volume of 59,591 shares changing hands.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets reduced their target price on Sigma Lithium from $25.00 to $20.00 and set an “outperform” rating on the stock in a report on Monday, August 19th.

Sigma Lithium Price Performance

The stock has a market capitalization of $1.60 billion, a P/E ratio of -29.67 and a beta of 0.16. The business has a fifty day simple moving average of $13.12 and a 200-day simple moving average of $12.77. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.96 and a current ratio of 0.84.

Hedge Funds Weigh In On Sigma Lithium

A number of institutional investors have recently modified their holdings of the company. Point72 DIFC Ltd acquired a new position in shares of Sigma Lithium during the second quarter worth approximately $48,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Sigma Lithium during the 2nd quarter valued at $107,000. Geode Capital Management LLC lifted its stake in Sigma Lithium by 8.4% during the 3rd quarter. Geode Capital Management LLC now owns 117,125 shares of the company’s stock valued at $1,448,000 after acquiring an additional 9,049 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in Sigma Lithium during the 3rd quarter valued at $122,000. Finally, Tidal Investments LLC lifted its stake in Sigma Lithium by 65.9% during the 1st quarter. Tidal Investments LLC now owns 44,241 shares of the company’s stock valued at $573,000 after acquiring an additional 17,566 shares in the last quarter. 64.86% of the stock is 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.