Sigma Lithium (NASDAQ:SGML) Shares Up 5.9% – Time to Buy?

Sigma Lithium Co. (NASDAQ:SGML) shares shot up 5.9% during mid-day trading on Wednesday . The stock traded as high as $13.16 and last traded at $13.15. 72,874 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 994,915 shares. The stock had previously closed at $12.42.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets dropped their price objective on shares of 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 stock’s fifty day moving average price is $13.57 and its 200-day moving average price is $12.36. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.72 and a current ratio of 0.84. The firm has a market cap of $1.36 billion, a PE ratio of -25.88 and a beta of 0.15.

Hedge Funds Weigh In On Sigma Lithium

Large investors have recently made changes to their positions in the stock. Point72 DIFC Ltd purchased a new position in shares of Sigma Lithium in the 2nd quarter valued at about $48,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Sigma Lithium in the 2nd quarter valued at about $107,000. Public Employees Retirement System of Ohio acquired a new stake in Sigma Lithium in the 3rd quarter valued at about $122,000. Y Intercept Hong Kong Ltd acquired a new stake in Sigma Lithium in the 3rd quarter valued at about $299,000. Finally, SG Americas Securities LLC acquired a new stake in Sigma Lithium in the 2nd quarter valued at about $672,000. 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.