Sigma Lithium (NASDAQ:SGML) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Sigma Lithium (NASDAQ:SGML) from a sell rating to a hold rating in a research note issued to investors on Saturday.

Several other research analysts have also recently commented on the company. Canaccord Genuity Group raised Sigma Lithium from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Bank of America raised Sigma Lithium from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $14.00 to $17.00 in a report on Thursday, April 2nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sigma Lithium in a report on Friday, March 27th. Citigroup downgraded Sigma Lithium from an “overweight” rating to an “underperform” rating in a report on Thursday, January 8th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $18.00 price target on shares of Sigma Lithium in a report on Wednesday, January 14th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $18.50.

Sigma Lithium Trading Up 1.0%

Shares of NASDAQ SGML opened at $14.51 on Friday. Sigma Lithium has a twelve month low of $4.25 and a twelve month high of $16.88. The company has a current ratio of 0.49, a quick ratio of 0.32 and a debt-to-equity ratio of 1.38. The stock has a fifty day simple moving average of $12.39 and a 200-day simple moving average of $10.58. The stock has a market capitalization of $1.62 billion, a PE ratio of -32.24, a PEG ratio of 0.29 and a beta of 0.04.

Sigma Lithium (NASDAQ:SGML) last released its earnings results on Monday, March 30th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.10). Sigma Lithium had a negative return on equity of 53.45% and a negative net margin of 45.64%.The company had revenue of $16.90 million for the quarter, compared to analyst estimates of $52.20 million. On average, equities analysts forecast that Sigma Lithium will post -0.12 earnings per share for the current year.

Hedge Funds Weigh In On Sigma Lithium

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC acquired a new position in Sigma Lithium during the 4th quarter worth approximately $51,000. GF Fund Management CO. LTD. acquired a new stake in shares of Sigma Lithium in the 4th quarter worth approximately $57,000. Deutsche Bank AG acquired a new stake in shares of Sigma Lithium in the 4th quarter worth approximately $101,000. BTG Pactual Asset Management US LLC acquired a new stake in shares of Sigma Lithium in the 3rd quarter worth approximately $71,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Sigma Lithium in the 3rd quarter worth approximately $82,000. Institutional investors and hedge funds own 64.86% of the company’s stock.

Sigma Lithium Company Profile

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.