Skandinaviska Enskilda Banken AB publ Cuts Stock Position in Sigma Lithium Co. (NASDAQ:SGML)

Skandinaviska Enskilda Banken AB publ reduced its position in shares of Sigma Lithium Co. (NASDAQ:SGML - Free Report) by 30.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,692 shares of the company's stock after selling 27,436 shares during the period. Skandinaviska Enskilda Banken AB publ owned 0.06% of Sigma Lithium worth $693,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. The Manufacturers Life Insurance Company raised its holdings in Sigma Lithium by 848.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 354,625 shares of the company's stock valued at $4,388,000 after acquiring an additional 317,225 shares during the last quarter. Bridgewater Associates LP purchased a new stake in shares of Sigma Lithium in the third quarter valued at $4,584,000. Appian Way Asset Management LP increased its stake in Sigma Lithium by 57.2% in the third quarter. Appian Way Asset Management LP now owns 4,092,401 shares of the company's stock valued at $50,582,000 after purchasing an additional 1,488,265 shares during the last quarter. Polar Asset Management Partners Inc. lifted its position in Sigma Lithium by 22.0% during the third quarter. Polar Asset Management Partners Inc. now owns 246,500 shares of the company's stock worth $3,047,000 after buying an additional 44,400 shares during the period. Finally, State Street Corp acquired a new stake in Sigma Lithium in the 3rd quarter worth about $1,831,000. Institutional investors and hedge funds own 64.86% of the company's stock.

Wall Street Analysts Forecast Growth

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

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Sigma Lithium Trading Up 0.4 %

Shares of SGML traded up $0.05 during trading hours on Friday, hitting $11.68. The stock had a trading volume of 774,596 shares, compared to its average volume of 762,297. Sigma Lithium Co. has a 12-month low of $8.47 and a 12-month high of $19.20. The firm has a market cap of $1.30 billion, a P/E ratio of -24.33 and a beta of 0.21. 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 company's fifty day simple moving average is $11.39 and its 200 day simple moving average is $12.13.

Sigma Lithium 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.