Sigma Lithium (NASDAQ:SGML) Trading Down 3.4% - Time to Sell?

Sigma Lithium Co. (NASDAQ:SGML - Get Free Report) shares traded down 3.4% during mid-day trading on Friday . The stock traded as low as $14.08 and last traded at $14.15. 99,598 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 1,006,425 shares. The stock had previously closed at $14.65.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets dropped their target price on Sigma Lithium from $25.00 to $20.00 and set an "outperform" rating on the stock in a report on Monday, August 19th.

Sigma Lithium Stock Down 4.8 %

The firm's fifty day simple moving average is $13.28 and its 200-day simple moving average is $12.77. The company has a market cap of $1.55 billion, a PE ratio of -29.06 and a beta of 0.16. The company has a quick ratio of 0.96, a current ratio of 0.84 and a debt-to-equity ratio of 0.02.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Point72 DIFC Ltd acquired a new stake in Sigma Lithium in the second quarter valued at $48,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Sigma Lithium during the 2nd quarter worth $107,000. Public Employees Retirement System of Ohio bought a new position in Sigma Lithium in the 3rd quarter valued at about $122,000. Y Intercept Hong Kong Ltd bought a new position in shares of Sigma Lithium in the third quarter valued at approximately $299,000. Finally, Tidal Investments LLC increased its stake in shares of Sigma Lithium by 65.9% during the first quarter. Tidal Investments LLC now owns 44,241 shares of the company's stock valued at $573,000 after acquiring an additional 17,566 shares during the period. 64.86% of the stock is owned by hedge funds and other institutional investors.

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.