Sigma Lithium (NASDAQ:SGML) Trading Up 31.4% – Here’s Why

Sigma Lithium Corporation (NASDAQ:SGML)’s stock price was up 31.4% during trading on Monday . The company traded as high as $8.52 and last traded at $7.9650. Approximately 32,434,145 shares traded hands during mid-day trading, an increase of 1,334% from the average daily volume of 2,261,513 shares. The stock had previously closed at $6.06.

Analyst Upgrades and Downgrades

SGML has been the topic of a number of research analyst reports. Wall Street Zen cut shares of Sigma Lithium from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Zacks Research lowered Sigma Lithium from a “hold” rating to a “strong sell” rating in a research note on Monday, October 27th. Cormark raised shares of Sigma Lithium to a “moderate buy” rating in a report on Thursday, August 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sigma Lithium in a research report on Wednesday, October 8th. Finally, Bank of America cut shares of Sigma Lithium from a “buy” rating to a “neutral” rating and set a $7.00 price target for the company. in a research report on Friday, October 24th. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Sell” and a consensus target price of $7.00.

Sigma Lithium Price Performance

The company has a quick ratio of 0.39, a current ratio of 0.60 and a debt-to-equity ratio of 1.26. The firm’s fifty day simple moving average is $6.21 and its two-hundred day simple moving average is $6.00. The firm has a market cap of $869.91 million, a PE ratio of -25.55 and a beta of 0.08.

Sigma Lithium (NASDAQ:SGML) last issued its earnings results on Friday, November 14th. The company reported ($0.10) earnings per share for the quarter, hitting the consensus estimate of ($0.10). The business had revenue of $28.55 million during the quarter, compared to analysts’ expectations of $70.54 million. Sigma Lithium had a negative return on equity of 34.64% and a negative net margin of 24.13%. As a group, research analysts expect that Sigma Lithium Corporation will post -0.12 EPS for the current year.

Institutional Trading of Sigma Lithium

Hedge funds and other institutional investors have recently modified their holdings of the stock. Teacher Retirement System of Texas acquired a new position in Sigma Lithium in the first quarter valued at approximately $109,000. Nuveen LLC acquired a new position in shares of Sigma Lithium in the 1st quarter valued at $550,000. American Century Companies Inc. grew its holdings in shares of Sigma Lithium by 133.1% during the 1st quarter. American Century Companies Inc. now owns 84,723 shares of the company’s stock worth $881,000 after purchasing an additional 48,381 shares during the period. Maven Securities LTD increased its position in shares of Sigma Lithium by 185.9% during the 1st quarter. Maven Securities LTD now owns 42,891 shares of the company’s stock worth $446,000 after purchasing an additional 27,891 shares during the last quarter. Finally, Caption Management LLC increased its position in shares of Sigma Lithium by 116.0% during the 1st quarter. Caption Management LLC now owns 58,104 shares of the company’s stock worth $604,000 after purchasing an additional 422,100 shares during the last quarter. 64.86% of the stock is owned by institutional investors and hedge funds.

About Sigma Lithium

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.