Sigma Lithium (NASDAQ:SGML) Stock Price Up 8.1% – What’s Next?

by · The Markets Daily

Sigma Lithium Corporation (NASDAQ:SGML – Get Free Report) traded up 8.1% during mid-day trading on Friday . The stock traded as high as $11.78 and last traded at $11.60. Approximately 214,215 shares traded hands during trading, a decline of 94% from the average daily volume of 3,351,407 shares. The stock had previously closed at $10.73.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Weiss Ratings cut Sigma Lithium from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, August 13th. Zacks Research downgraded Sigma Lithium from a “hold” rating to a “strong sell” rating in a research report on Wednesday. Finally, Wall Street Zen lowered Sigma Lithium from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Three research analysts have rated the stock with a Buy rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $18.50.

View Our Latest Research Report on Sigma Lithium

Sigma Lithium Price Performance

The business has a 50-day moving average of $11.66 and a two-hundred day moving average of $13.83. The company has a current ratio of 0.34, a quick ratio of 0.25 and a debt-to-equity ratio of 1.25. The firm has a market cap of $1.32 billion, a P/E ratio of -48.79 and a beta of 0.61.

Sigma Lithium (NASDAQ:SGML – Get Free Report) last posted its earnings results on Friday, August 14th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.23 by ($0.25). The firm had revenue of $54.70 million during the quarter, compared to the consensus estimate of $68.34 million. Sigma Lithium had a negative net margin of 19.36% and a negative return on equity of 37.40%. On average, sell-side analysts anticipate that Sigma Lithium Corporation will post 0.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sigma Lithium

A number of hedge funds have recently modified their holdings of SGML. Farther Finance Advisors LLC bought a new stake in shares of Sigma Lithium in the 4th quarter valued at about $51,000. BTG Pactual Asset Management US LLC acquired a new stake in Sigma Lithium during the 3rd quarter valued at approximately $71,000. Quantbot Technologies LP acquired a new stake in Sigma Lithium during the 3rd quarter valued at approximately $82,000. Nebula Research & Development LLC bought a new position in Sigma Lithium during the 2nd quarter worth approximately $87,000. Finally, Banque Cantonale Vaudoise raised its holdings in Sigma Lithium by 7,339.9% during the 3rd quarter. Banque Cantonale Vaudoise now owns 15,103 shares of the company’s stock worth $97,000 after purchasing an additional 14,900 shares during the last quarter. Institutional investors and hedge funds own 64.86% of the company’s stock.

Sigma Lithium Company Profile

(Get Free Report)

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.

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