Sigma Lithium Corporation (NASDAQ:SGML) Short Interest Down 42.1% in April
by Jessica Moore · The Cerbat GemSigma Lithium Corporation (NASDAQ:SGML – Get Free Report) saw a significant decrease in short interest in the month of April. As of April 30th, there was short interest totaling 3,298,340 shares, a decrease of 42.1% from the April 15th total of 5,694,977 shares. Approximately 5.8% of the shares of the company are sold short. Based on an average daily volume of 3,787,559 shares, the short-interest ratio is presently 0.9 days.
Sigma Lithium Stock Down 12.2%
Shares of SGML stock opened at $14.76 on Tuesday. Sigma Lithium has a 12 month low of $4.25 and a 12 month high of $24.48. The stock has a market cap of $1.64 billion, a P/E ratio of -37.85 and a beta of 0.64. The company has a current ratio of 0.25, a quick ratio of 0.14 and a debt-to-equity ratio of 0.26. The company has a 50 day simple moving average of $15.96 and a two-hundred day simple moving average of $13.08.
Sigma Lithium (NASDAQ:SGML – Get Free Report) last announced its earnings results on Friday, May 15th. The company reported $0.10 EPS for the quarter, meeting analysts’ consensus estimates of $0.10. Sigma Lithium had a negative net margin of 41.84% and a negative return on equity of 56.56%. The business had revenue of $42.34 million during the quarter, compared to analysts’ expectations of $42.48 million. On average, research analysts expect that Sigma Lithium will post 0.92 earnings per share for the current year.
Institutional Investors Weigh In On Sigma Lithium
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC purchased a new stake in Sigma Lithium in the 4th quarter worth approximately $51,000. GF Fund Management CO. LTD. purchased a new stake in Sigma Lithium in the 4th quarter worth approximately $57,000. Deutsche Bank AG purchased a new stake in shares of Sigma Lithium in the fourth quarter worth $101,000. BTG Pactual Asset Management US LLC purchased a new stake in shares of Sigma Lithium in the third quarter worth $71,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Sigma Lithium in the third quarter worth $82,000. 64.86% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts recently weighed in on SGML shares. Canaccord Genuity Group upgraded shares of Sigma Lithium from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Wall Street Zen upgraded shares of Sigma Lithium from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Bank of America upgraded shares of Sigma Lithium from a “neutral” rating to a “buy” rating and increased their price objective for the company from $14.00 to $17.00 in a research report on Thursday, April 2nd. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sigma Lithium in a report on Friday, March 27th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Sigma Lithium has an average rating of “Hold” and an average target price of $18.50.
Read Our Latest Research Report on Sigma Lithium
About Sigma Lithium
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.