Sigma Lithium (NASDAQ:SGML) Shares Gap Up – Here’s What Happened
by Jessica Moore · The Cerbat GemSigma Lithium Corporation (NASDAQ:SGML – Get Free Report)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $8.91, but opened at $9.20. Sigma Lithium shares last traded at $9.04, with a volume of 188,711 shares.
Wall Street Analyst Weigh In
Several analysts recently issued reports on SGML shares. Zacks Research lowered shares of Sigma Lithium from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 19th. Weiss Ratings downgraded shares of Sigma Lithium from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, August 13th. Finally, Wall Street Zen cut shares of Sigma Lithium from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Three equities research analysts have rated the stock with a Buy rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $18.50.
Get Our Latest Stock Analysis on SGML
Sigma Lithium Trading Up 2.1%
The stock has a 50 day moving average of $11.14 and a 200-day moving average of $13.72. The company has a market capitalization of $1.02 billion, a P/E ratio of -37.85 and a beta of 0.64. The company has a current ratio of 0.34, a quick ratio of 0.25 and a debt-to-equity ratio of 1.25.
Sigma Lithium (NASDAQ:SGML – Get Free Report) last released its earnings results on Friday, August 14th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.25). Sigma Lithium had a negative return on equity of 37.40% and a negative net margin of 19.36%.The firm had revenue of $54.70 million for the quarter, compared to the consensus estimate of $68.34 million. On average, research analysts predict that Sigma Lithium Corporation will post 0.45 EPS for the current year.
Institutional Trading of Sigma Lithium
Several institutional investors and hedge funds have recently modified their holdings of SGML. Banque Cantonale Vaudoise lifted its stake in shares of Sigma Lithium by 6.8% during the 1st quarter. Banque Cantonale Vaudoise now owns 55,143 shares of the company’s stock valued at $679,000 after buying an additional 3,489 shares in the last quarter. TD Waterhouse Canada Inc. increased its stake in Sigma Lithium by 21.8% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 24,605 shares of the company’s stock worth $306,000 after buying an additional 4,412 shares in the last quarter. State of Wyoming purchased a new stake in Sigma Lithium in the 2nd quarter worth $109,000. Deutsche Bank AG bought a new stake in Sigma Lithium during the second quarter valued at about $116,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Sigma Lithium during the second quarter valued at about $128,000. 64.86% of the stock is currently owned by institutional investors.
About Sigma Lithium
Sigma Lithium Corporation is a Canadian mining and technology company focused on the exploration, development, and production of lithium products for the electric vehicle and energy storage industries. Its principal operations are located in Brazil, where the company is developing and operating the Grota do Cirilo lithium project in the state of Minas Gerais.
Grota do Cirilo produces battery-grade lithium spodumene concentrate, a key raw material used to manufacture lithium-ion batteries.