Sigma Lithium (NASDAQ:SGML) Shares Up 6.8% - Should You Buy?

Sigma Lithium Co. (NASDAQ:SGML - Get Free Report) was up 6.8% during mid-day trading on Tuesday . The company traded as high as $10.65 and last traded at $10.98. Approximately 25,856 shares changed hands during trading, a decline of 95% from the average daily volume of 503,196 shares. The stock had previously closed at $10.28.

Wall Street Analysts Forecast Growth

Separately, Bank of America dropped their price objective on Sigma Lithium from $25.00 to $16.00 and set a "buy" rating on the stock in a research note on Tuesday, January 14th.

Sigma Lithium Trading Up 0.2 %

The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -23.35 and a beta of 0.22. The company has a quick ratio of 0.72, a current ratio of 0.84 and a debt-to-equity ratio of 0.02. The firm's 50 day moving average is $11.66 and its 200 day moving average is $11.89.

Institutional Trading of Sigma Lithium

Several institutional investors and hedge funds have recently bought and sold shares of SGML. U S Global Investors Inc. raised its stake in Sigma Lithium by 233.3% during the 4th quarter. U S Global Investors Inc. now owns 10,000 shares of the company's stock valued at $112,000 after purchasing an additional 7,000 shares during the period. Public Employees Retirement System of Ohio purchased a new position in Sigma Lithium during the third quarter valued at approximately $122,000. Handelsbanken Fonder AB acquired a new position in Sigma Lithium in the 4th quarter valued at approximately $160,000. Y Intercept Hong Kong Ltd purchased a new stake in Sigma Lithium in the 3rd quarter worth approximately $299,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Sigma Lithium during the 4th quarter valued at $728,000. Institutional investors and hedge funds 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.