Sigma Lithium (NASDAQ:SGML) Stock Price Down 3.4% – Should You Sell?

Sigma Lithium Co. (NASDAQ:SGML)’s stock price was down 3.4% on Friday . The stock traded as low as $14.08 and last traded at $14.15. Approximately 99,598 shares changed hands during trading, a decline of 90% from the average daily volume of 1,006,425 shares. The stock had previously closed at $14.65.

Analyst Ratings Changes

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

Sigma Lithium Stock Performance

The stock has a 50 day simple moving average of $13.20 and a 200 day simple moving average of $12.79. The company has a current ratio of 0.84, a quick ratio of 0.96 and a debt-to-equity ratio of 0.02. The stock has a market cap of $1.54 billion, a P/E ratio of -30.52 and a beta of 0.16.

Hedge Funds Weigh In On Sigma Lithium

A number of hedge funds have recently added to or reduced their stakes in the stock. Appian Way Asset Management LP increased its stake in Sigma Lithium by 57.2% during the 3rd quarter. Appian Way Asset Management LP now owns 4,092,401 shares of the company’s stock worth $50,582,000 after acquiring an additional 1,488,265 shares during the period. Fourth Sail Capital LP increased its stake in shares of Sigma Lithium by 1,572.2% in the 2nd quarter. Fourth Sail Capital LP now owns 3,134,797 shares of the company’s stock valued at $37,712,000 after purchasing an additional 2,947,331 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Sigma Lithium by 3.9% in the 3rd quarter. Van ECK Associates Corp now owns 1,248,755 shares of the company’s stock valued at $15,435,000 after purchasing an additional 47,143 shares during the last quarter. Millennium Management LLC increased its stake in shares of Sigma Lithium by 16.9% in the 2nd quarter. Millennium Management LLC now owns 1,243,579 shares of the company’s stock valued at $14,960,000 after purchasing an additional 179,355 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its stake in shares of Sigma Lithium by 18.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,144,492 shares of the company’s stock valued at $13,768,000 after purchasing an additional 174,992 shares during the last quarter. Institutional investors 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.