Sigma Lithium (NASDAQ:SGML) Price Target Lowered to $16.00 at Bank of America

Sigma Lithium (NASDAQ:SGML - Free Report) had its price target reduced by Bank of America from $25.00 to $16.00 in a report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Sigma Lithium Stock Up 0.6 %

Shares of NASDAQ SGML traded up $0.07 during trading hours on Tuesday, hitting $11.98. The stock had a trading volume of 474,902 shares, compared to its average volume of 643,646. Sigma Lithium has a 52 week low of $8.47 and a 52 week high of $27.20. The company has a market capitalization of $1.33 billion, a P/E ratio of -24.96 and a beta of 0.23. 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's 50-day moving average price is $12.57 and its two-hundred day moving average price is $12.01.

Institutional Investors Weigh In On Sigma Lithium

Several large investors have recently made changes to their positions in the stock. Tidal Investments LLC lifted its stake in shares of Sigma Lithium by 43.4% in the 3rd quarter. Tidal Investments LLC now owns 63,422 shares of the company's stock valued at $784,000 after acquiring an additional 19,193 shares during the last quarter. Geode Capital Management LLC boosted its stake in Sigma Lithium by 8.4% during the 3rd 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 bought a new position in shares of Sigma Lithium during the 3rd quarter worth approximately $122,000. Y Intercept Hong Kong Ltd bought a new stake in Sigma Lithium in the third quarter worth about $299,000. Finally, State Street Corp purchased a new stake in shares of Sigma Lithium during the 3rd quarter valued at approximately $1,831,000. Institutional investors own 64.86% of the company's stock.

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.