Sigma Lithium (NASDAQ:SGML) Trading Down 8.9% – Here’s Why

by · The Cerbat Gem

Sigma Lithium Corporation (NASDAQ:SGML – Get Free Report) shares fell 8.9% during mid-day trading on Tuesday . The stock traded as low as $10.35 and last traded at $10.5050. 951,666 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 2,683,396 shares. The stock had previously closed at $11.53.

Analyst Ratings Changes

A number of research firms have commented on SGML. Cormark raised shares of Sigma Lithium to a “moderate buy” rating in a research report on Thursday, August 21st. Bank of America lowered shares of Sigma Lithium from a “buy” rating to a “neutral” rating and set a $7.00 price objective on the stock. in a report on Friday, October 24th. Zacks Research raised shares of Sigma Lithium from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 25th. Wall Street Zen lowered Sigma Lithium from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Sigma Lithium in a research report on Wednesday, November 26th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $7.00.

Get Our Latest Research Report on SGML

Sigma Lithium Trading Down 9.9%

The company has a debt-to-equity ratio of 1.38, a current ratio of 0.49 and a quick ratio of 0.32. The firm has a market cap of $1.16 billion, a PE ratio of -33.46 and a beta of 0.01. The company’s 50 day moving average price is $7.11 and its 200 day moving average price is $6.18.

Sigma Lithium (NASDAQ:SGML – Get Free Report) last released its earnings results on Friday, November 14th. The company reported ($0.10) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.10). Sigma Lithium had a negative net margin of 24.13% and a negative return on equity of 35.97%. The company had revenue of $28.55 million for the quarter, compared to analyst estimates of $70.54 million. As a group, analysts forecast that Sigma Lithium Corporation will post -0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Sigma Lithium

Several large investors have recently bought and sold shares of SGML. Waratah Capital Advisors Ltd. boosted its stake in shares of Sigma Lithium by 93.0% in the 2nd quarter. Waratah Capital Advisors Ltd. now owns 227,330 shares of the company’s stock valued at $1,023,000 after buying an additional 109,530 shares during the period. CenterBook Partners LP raised its holdings in Sigma Lithium by 416.8% in the second quarter. CenterBook Partners LP now owns 816,515 shares of the company’s stock valued at $3,674,000 after acquiring an additional 658,533 shares in the last quarter. Amundi purchased a new position in Sigma Lithium in the first quarter worth approximately $2,478,000. Aberdeen Group plc acquired a new position in Sigma Lithium during the 2nd quarter worth approximately $187,000. Finally, Woodline Partners LP increased its position in shares of Sigma Lithium by 65.6% in the 1st quarter. Woodline Partners LP now owns 2,678,444 shares of the company’s stock valued at $27,856,000 after purchasing an additional 1,060,771 shares during the last quarter. Hedge funds and other institutional investors own 64.86% of the company’s stock.

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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