Sigma Lithium (NASDAQ:SGML) Shares Down 5.1% – Should You Sell?

Sigma Lithium Co. (NASDAQ:SGML) shares dropped 5.1% during mid-day trading on Tuesday . The company traded as low as $11.41 and last traded at $11.40. Approximately 234,057 shares changed hands during trading, a decline of 56% from the average daily volume of 531,060 shares. The stock had previously closed at $12.01.

Analyst Upgrades and Downgrades

Separately, Bank of America decreased their price target on shares of Sigma Lithium from $25.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th.

Sigma Lithium Trading Down 4.0 %

The stock has a market cap of $1.28 billion, a P/E ratio of -23.94 and a beta of 0.23. The business’s 50 day simple moving average is $12.45 and its 200 day simple moving average is $12.01. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.84 and a quick ratio of 0.72.

Institutional Investors Weigh In On Sigma Lithium

Several institutional investors have recently modified their holdings of the business. Point72 DIFC Ltd acquired a new position in shares of Sigma Lithium during the second quarter worth about $48,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Sigma Lithium during the 2nd quarter worth approximately $107,000. Geode Capital Management LLC raised its holdings in shares of Sigma Lithium by 8.4% in the third quarter. Geode Capital Management LLC now owns 117,125 shares of the company’s stock valued at $1,448,000 after purchasing an additional 9,049 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Sigma Lithium in the third quarter worth $122,000. Finally, Tidal Investments LLC boosted its holdings in Sigma Lithium by 43.4% during the third quarter. Tidal Investments LLC now owns 63,422 shares of the company’s stock worth $784,000 after purchasing an additional 19,193 shares during the last quarter. 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.