Sigma Lithium (NASDAQ:SGML) Shares Gap Up – What’s Next?

Sigma Lithium Co. (NASDAQ:SGML) shares gapped up prior to trading on Tuesday . The stock had previously closed at $13.51, but opened at $13.89. Sigma Lithium shares last traded at $13.78, with a volume of 25,947 shares traded.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets lowered their price objective on shares of Sigma Lithium from $25.00 to $20.00 and set an “outperform” rating for the company in a research report on Monday, August 19th.

Sigma Lithium Trading Up 2.2 %

The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.96 and a current ratio of 1.05. The company has a 50 day simple moving average of $12.87 and a two-hundred day simple moving average of $12.79.

Institutional Trading of Sigma Lithium

A number of institutional investors have recently bought and sold shares of SGML. Appian Way Asset Management LP raised its stake in shares of Sigma Lithium by 57.2% in the third quarter. Appian Way Asset Management LP now owns 4,092,401 shares of the company’s stock valued at $50,582,000 after acquiring an additional 1,488,265 shares during the period. Fourth Sail Capital LP lifted its stake in Sigma Lithium by 1,572.2% in the second quarter. Fourth Sail Capital LP now owns 3,134,797 shares of the company’s stock worth $37,712,000 after purchasing an additional 2,947,331 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Sigma Lithium by 3.9% during the third quarter. Van ECK Associates Corp now owns 1,248,755 shares of the company’s stock valued at $15,435,000 after buying an additional 47,143 shares during the period. Millennium Management LLC grew its stake in shares of Sigma Lithium by 16.9% during the second quarter. Millennium Management LLC now owns 1,243,579 shares of the company’s stock valued at $14,960,000 after buying an additional 179,355 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in shares of Sigma Lithium by 18.0% in the second quarter. Point72 Asset Management L.P. now owns 1,144,492 shares of the company’s stock worth $13,768,000 after buying an additional 174,992 shares during the period. 64.86% of the stock is currently 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.