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

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

Wall Street Analyst Weigh In

Separately, Bank of America decreased their price objective on shares of Sigma Lithium from $25.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, January 14th.

Sigma Lithium Stock Down 3.0 %

The firm has a market cap of $1.23 billion, a price-to-earnings ratio of -23.00 and a beta of 0.23. The firm has a 50-day moving average of $12.35 and a two-hundred day moving average of $12.00. The company has a current ratio of 0.84, a quick ratio of 0.72 and a debt-to-equity ratio of 0.02.

Institutional Trading of Sigma Lithium

Several hedge funds and other institutional investors have recently bought and sold shares of SGML. Point72 DIFC Ltd acquired a new stake in Sigma Lithium during the second quarter worth about $48,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Sigma Lithium during the 2nd quarter worth approximately $107,000. Millennium Management LLC increased its position 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 purchasing an additional 179,355 shares during the period. Point72 Asset Management L.P. raised its stake 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 valued at $13,768,000 after purchasing an additional 174,992 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in Sigma Lithium by 100.8% during the third quarter. SG Americas Securities LLC now owns 112,242 shares of the company’s stock worth $1,387,000 after buying an additional 56,347 shares in the last quarter. 64.86% of the stock is currently 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.