Sigma Lithium (NASDAQ:SGML) Shares Up 8.9% – Here’s Why

Shares of Sigma Lithium Co. (NASDAQ:SGML) shot up 8.9% during mid-day trading on Thursday . The company traded as high as $12.24 and last traded at $12.22. 416,754 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 976,321 shares. The stock had previously closed at $11.22.

Sigma Lithium Stock Down 1.7 %

The company has a fifty day moving average of $12.78 and a 200 day moving average of $12.01. 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 company has a market cap of $1.34 billion, a P/E ratio of -25.19 and a beta of 0.15.

Institutional Trading of Sigma Lithium

Several large investors have recently added to or reduced their stakes in the business. Fourth Sail Capital LP grew its position in shares of Sigma Lithium by 1,572.2% during the 2nd quarter. Fourth Sail Capital LP now owns 3,134,797 shares of the company’s stock valued at $37,712,000 after acquiring an additional 2,947,331 shares during the period. Appian Way Asset Management LP increased its position 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 worth $50,582,000 after buying an additional 1,488,265 shares in the last quarter. Bridgewater Associates LP bought a new position in shares of Sigma Lithium in the third quarter worth about $4,584,000. The Manufacturers Life Insurance Company lifted its position in shares of Sigma Lithium by 848.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 354,625 shares of the company’s stock valued at $4,388,000 after buying an additional 317,225 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of Sigma Lithium by 16.9% during the 2nd quarter. Millennium Management LLC now owns 1,243,579 shares of the company’s stock valued at $14,960,000 after acquiring an additional 179,355 shares during the period. 64.86% of the stock is currently owned by institutional investors.

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.