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

Sigma Lithium Co. (NASDAQ:SGML) gapped down before the market opened 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.

Analysts Set New Price Targets

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

Sigma Lithium Stock Down 0.7 %

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 firm has a market cap of $1.60 billion, a PE ratio of -29.67 and a beta of 0.16. The stock has a fifty day simple moving average of $13.12 and a two-hundred day simple moving average of $12.77.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SGML. 1832 Asset Management L.P. grew its holdings in shares of Sigma Lithium by 43.3% during the first quarter. 1832 Asset Management L.P. now owns 382,000 shares of the company’s stock worth $4,951,000 after purchasing an additional 115,438 shares in the last quarter. Appian Way Asset Management LP boosted its stake in Sigma Lithium by 47.2% in the first quarter. Appian Way Asset Management LP now owns 2,270,102 shares of the company’s stock worth $29,421,000 after buying an additional 728,260 shares in the last quarter. Tidal Investments LLC boosted its stake in Sigma Lithium by 65.9% in the first quarter. Tidal Investments LLC now owns 44,241 shares of the company’s stock worth $573,000 after buying an additional 17,566 shares in the last quarter. SG Americas Securities LLC bought a new stake in Sigma Lithium in the second quarter valued at approximately $672,000. Finally, Van ECK Associates Corp lifted its position in Sigma Lithium by 13.6% in the second quarter. Van ECK Associates Corp now owns 1,201,612 shares of the company’s stock valued at $14,455,000 after purchasing an additional 143,696 shares during the last quarter. Hedge funds and other 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.