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

Sigma Lithium Co. (NASDAQ:SGML)’s stock price was down 3.4% during mid-day trading on Friday . The company traded as low as $14.08 and last traded at $14.15. Approximately 99,598 shares changed hands during mid-day 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 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 Price Performance

The firm has a market capitalization of $1.54 billion, a P/E ratio of -30.52 and a beta of 0.16. The business has a 50-day moving average of $13.20 and a 200 day 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.

Institutional Trading of Sigma Lithium

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 DIFC Ltd bought a new position in shares of Sigma Lithium in the second quarter valued at approximately $48,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Sigma Lithium in the second quarter valued at approximately $107,000. Geode Capital Management LLC lifted its stake in 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 purchased a new position in Sigma Lithium in the third quarter valued at approximately $122,000. Finally, Tidal Investments LLC lifted 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 valued at $573,000 after purchasing an additional 17,566 shares during the last quarter. 64.86% of the stock is owned by institutional investors.

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.