Sigma Lithium (NASDAQ:SGML) Shares Gap Up – Time to Buy?

Shares of Sigma Lithium Co. (NASDAQ:SGML) gapped up before the market opened 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 trading hands.

Wall Street Analyst Weigh In

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

Sigma Lithium Trading Up 2.2 %

The company has a current ratio of 1.05, a quick ratio of 0.96 and a debt-to-equity ratio of 0.02. The firm’s fifty day simple moving average is $12.87 and its two-hundred day simple moving average is $12.79.

Institutional Inflows and Outflows

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