Sigma Lithium (NASDAQ:SGML) Shares Gap Down – What’s Next?

Shares of Sigma Lithium Corporation (NASDAQ:SGML) gapped down prior to trading on Monday . The stock had previously closed at $9.85, but opened at $9.54. Sigma Lithium shares last traded at $10.1610, with a volume of 1,888,766 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Sigma Lithium in a report on Wednesday, October 8th. Zacks Research cut Sigma Lithium from a “hold” rating to a “strong sell” rating in a research note on Monday, October 27th. Cormark upgraded shares of Sigma Lithium to a “moderate buy” rating in a research report on Thursday, August 21st. Wall Street Zen downgraded shares of Sigma Lithium from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Finally, Bank of America downgraded Sigma Lithium from a “buy” rating to a “neutral” rating and set a $7.00 price target on the stock. in a research note on Friday, October 24th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Sigma Lithium currently has a consensus rating of “Sell” and an average price target of $7.00.

Sigma Lithium Stock Performance

The firm has a fifty day moving average of $6.55 and a 200-day moving average of $6.04. The company has a quick ratio of 0.32, a current ratio of 0.49 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -32.43 and a beta of 0.08.

Sigma Lithium (NASDAQ:SGML) last announced its quarterly earnings results on Friday, November 14th. The company reported ($0.10) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.10). Sigma Lithium had a negative return on equity of 35.97% and a negative net margin of 24.13%.The business had revenue of $28.55 million during the quarter, compared to analysts’ expectations of $70.54 million. As a group, sell-side analysts anticipate that Sigma Lithium Corporation will post -0.12 EPS for the current year.

Institutional Trading of Sigma Lithium

Institutional investors and hedge funds have recently made changes to their positions in the company. Appian Way Asset Management LP lifted its stake in shares of Sigma Lithium by 5.3% in the 1st quarter. Appian Way Asset Management LP now owns 4,963,006 shares of the company’s stock valued at $51,615,000 after purchasing an additional 250,581 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Sigma Lithium by 142.8% in the 3rd quarter. Van ECK Associates Corp now owns 4,606,668 shares of the company’s stock worth $29,529,000 after buying an additional 2,709,397 shares in the last quarter. Woodline Partners LP lifted its holdings in Sigma Lithium by 26.6% in the 3rd quarter. Woodline Partners LP now owns 2,964,909 shares of the company’s stock worth $19,005,000 after buying an additional 623,832 shares in the last quarter. Norges Bank purchased a new position in Sigma Lithium in the 2nd quarter valued at about $11,250,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Sigma Lithium by 24.9% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,550,713 shares of the company’s stock valued at $7,091,000 after acquiring an additional 309,338 shares in the last quarter. 64.86% of the stock is currently 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.