Sigma Lithium (NASDAQ:SGML) Trading Down 4.6%

Sigma Lithium Co. (NASDAQ:SGMLGet Free Report)’s stock price was down 4.6% during mid-day trading on Tuesday . The company traded as low as $13.25 and last traded at $13.35. Approximately 189,619 shares traded hands during trading, a decline of 84% from the average daily volume of 1,194,459 shares. The stock had previously closed at $13.99.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. BMO Capital Markets dropped their price target on shares of Sigma Lithium from $38.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, March 27th. Bank of America lifted their target price on shares of Sigma Lithium from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, May 20th.

View Our Latest Analysis on SGML

Sigma Lithium Trading Down 3.9 %

The stock has a 50 day simple moving average of $15.43 and a 200-day simple moving average of $19.29. The company has a current ratio of 1.07, a quick ratio of 0.98 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $1.49 billion, a P/E ratio of -103.38 and a beta of 0.25.

Sigma Lithium (NASDAQ:SGMLGet Free Report) last announced its earnings results on Wednesday, May 15th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.07). The company had revenue of $37.39 million for the quarter, compared to the consensus estimate of $57.79 million. On average, equities research analysts forecast that Sigma Lithium Co. will post 0.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Sigma Lithium

Institutional investors and hedge funds have recently bought and sold shares of the stock. Schonfeld Strategic Advisors LLC bought a new position in shares of Sigma Lithium in the third quarter worth about $3,484,000. Norges Bank bought a new stake in Sigma Lithium during the 4th quarter worth approximately $17,608,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Sigma Lithium by 23.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 718,536 shares of the company’s stock valued at $22,655,000 after purchasing an additional 134,389 shares in the last quarter. Alps Advisors Inc. boosted its position in shares of Sigma Lithium by 54.7% in the third quarter. Alps Advisors Inc. now owns 8,778 shares of the company’s stock worth $285,000 after purchasing an additional 3,104 shares during the period. Finally, Cowen AND Company LLC purchased a new stake in shares of Sigma Lithium in the fourth quarter worth $2,040,000. 64.86% of the stock is currently owned by hedge funds and other institutional investors.

Sigma Lithium Company Profile

(Get Free Report)

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.

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