Sigma Lithium (NASDAQ:SGML) Rating Lowered to Hold at Wall Street Zen

Sigma Lithium (NASDAQ:SGML) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other analysts have also commented on SGML. Zacks Research lowered shares of Sigma Lithium from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Weiss Ratings upgraded shares of Sigma Lithium from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 29th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Sigma Lithium presently has a consensus rating of “Hold” and a consensus price target of $18.50.

Sigma Lithium Stock Performance

Sigma Lithium stock opened at $11.38 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.32 and a quick ratio of 0.25. Sigma Lithium has a one year low of $4.61 and a one year high of $24.48. The stock has a market capitalization of $1.28 billion, a PE ratio of -29.18 and a beta of 0.61. The business’s fifty day moving average is $12.23 and its 200 day moving average is $13.92.

Sigma Lithium (NASDAQ:SGML) last issued its earnings results on Friday, May 15th. The company reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10. The business had revenue of $16.90 million during the quarter, compared to analyst estimates of $42.48 million. Sigma Lithium had a negative return on equity of 57.50% and a negative net margin of 41.84%. On average, sell-side analysts predict that Sigma Lithium will post 1.15 EPS for the current year.

Institutional Investors Weigh In On Sigma Lithium

Several hedge funds and other institutional investors have recently made changes to their positions in SGML. BlackRock Inc. purchased a new stake in Sigma Lithium during the second quarter valued at approximately $29,727,000. Legal & General Group Plc raised its position in Sigma Lithium by 101.7% in the fourth quarter. Legal & General Group Plc now owns 2,647,004 shares of the company’s stock worth $34,911,000 after acquiring an additional 1,334,772 shares during the period. Encompass Capital Advisors LLC purchased a new position in shares of Sigma Lithium during the 4th quarter worth $16,463,000. Woodline Partners LP boosted its stake in shares of Sigma Lithium by 26.6% during the 3rd quarter. Woodline Partners LP now owns 2,964,909 shares of the company’s stock worth $19,005,000 after acquiring an additional 623,832 shares during the last quarter. Finally, Verition Fund Management LLC bought a new stake in shares of Sigma Lithium during the 3rd quarter valued at $3,603,000. Hedge funds and other institutional investors own 64.86% of the company’s stock.

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.