Sigma Lithium (NASDAQ:SGML) Shares Gap Up – What’s Next?

Sigma Lithium Co. (NASDAQ:SGML)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $11.04, but opened at $11.31. Sigma Lithium shares last traded at $11.27, with a volume of 63,290 shares trading hands.

Sigma Lithium Stock Up 1.6 %

The firm has a market cap of $1.25 billion, a P/E ratio of -23.37 and a beta of 0.15. The firm’s 50 day moving average is $12.87 and its two-hundred day moving average is $12.01. The company has a current ratio of 0.84, a quick ratio of 0.72 and a debt-to-equity ratio of 0.02.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Polar Asset Management Partners Inc. increased its holdings in shares of Sigma Lithium by 22.0% in the third quarter. Polar Asset Management Partners Inc. now owns 246,500 shares of the company’s stock worth $3,047,000 after acquiring an additional 44,400 shares in the last quarter. Perpetual Ltd acquired a new position in shares of Sigma Lithium in the 3rd quarter valued at approximately $2,096,000. Fourth Sail Capital LP increased its stake in 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 worth $37,712,000 after purchasing an additional 2,947,331 shares in the last quarter. Millennium Management LLC raised its holdings in Sigma Lithium by 16.9% during the 2nd quarter. Millennium Management LLC now owns 1,243,579 shares of the company’s stock worth $14,960,000 after buying an additional 179,355 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in Sigma Lithium by 848.2% in the third 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. 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.