Sigma Lithium Corporation (NASDAQ:SGML) Short Interest Down 14.1% in February

Sigma Lithium Corporation (NASDAQ:SGML) was the recipient of a significant decline in short interest during the month of February. As of February 27th, there was short interest totaling 8,197,736 shares, a decline of 14.1% from the February 12th total of 9,543,463 shares. Based on an average daily volume of 3,943,413 shares, the short-interest ratio is currently 2.1 days. Currently, 14.3% of the shares of the company are short sold. Currently, 14.3% of the shares of the company are short sold. Based on an average daily volume of 3,943,413 shares, the short-interest ratio is currently 2.1 days.

Sigma Lithium Trading Up 2.4%

SGML opened at $11.34 on Tuesday. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of -36.58, a P/E/G ratio of 0.25 and a beta of -0.06. The company has a quick ratio of 0.32, a current ratio of 0.49 and a debt-to-equity ratio of 1.38. Sigma Lithium has a twelve month low of $4.25 and a twelve month high of $16.88. The company has a 50-day simple moving average of $13.18 and a 200 day simple moving average of $10.00.

Analyst Upgrades and Downgrades

Several analysts recently commented on SGML shares. Zacks Research raised shares of Sigma Lithium from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 25th. BMO Capital Markets reissued an “outperform” rating and issued a $18.00 price target on shares of Sigma Lithium in a report on Wednesday, January 14th. Weiss Ratings restated a “sell (e+)” rating on shares of Sigma Lithium in a research report on Monday, December 29th. Bank of America raised Sigma Lithium from an “underperform” rating to a “neutral” rating and set a $14.00 target price on the stock in a research report on Tuesday, February 3rd. Finally, Citigroup lowered Sigma Lithium from an “overweight” rating to an “underperform” rating in a research note on Thursday, January 8th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $17.50.

Institutional Trading of Sigma Lithium

Several large investors have recently made changes to their positions in the company. Farther Finance Advisors LLC bought a new position in Sigma Lithium in the fourth quarter valued at approximately $51,000. GF Fund Management CO. LTD. bought a new stake in Sigma Lithium during the fourth quarter worth $57,000. BTG Pactual Asset Management US LLC acquired a new stake in shares of Sigma Lithium in the 3rd quarter valued at $71,000. Quantbot Technologies LP acquired a new stake in shares of Sigma Lithium in the 3rd quarter valued at $82,000. Finally, Hunting Hill Global Capital LLC bought a new position in shares of Sigma Lithium in the 2nd quarter valued at $86,000. Institutional investors and hedge funds own 64.86% of the company’s stock.

Sigma Lithium Company Profile

Sigma Lithium Corp. is a Canada-based mineral exploration and development company focused on the sustainable production of battery-grade lithium from hard rock deposits. The company’s flagship asset is the Grota do Cirilo lithium project, located in the state of Minas Gerais, Brazil. Grota do Cirilo comprises a fully permitted, low-altitude spodumene mine and processing plant designed to produce high-purity lithium concentrate and downstream lithium hydroxide for the global electric vehicle and energy storage markets.

Since its founding in 2018, Sigma Lithium has pursued a vertically integrated approach, overseeing each stage of production from ore extraction and beneficiation to chemical conversion.