Sigma Lithium (NASDAQ:SGML) Shares Down 3.7%

Sigma Lithium Co. (NASDAQ:SGML)’s share price traded down 3.7% on Monday . The company traded as low as $11.19 and last traded at $11.19. 11,662 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 1,084,339 shares. The stock had previously closed at $11.62.

Analysts Set New Price Targets

Separately, Bank of America raised their price target on Sigma Lithium from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Monday, May 20th.

Sigma Lithium Stock Performance

The firm has a fifty day simple moving average of $13.35 and a 200-day simple moving average of $15.09. The company has a market cap of $1.20 billion, a PE ratio of -84.15 and a beta of 0.18. The company has a quick ratio of 0.98, a current ratio of 1.07 and a debt-to-equity ratio of 0.02.

Sigma Lithium (NASDAQ:SGML) last issued its quarterly earnings data on Wednesday, May 15th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.07). The business had revenue of $37.39 million during the quarter, compared to the consensus estimate of $57.79 million. On average, research analysts forecast that Sigma Lithium Co. will post 0.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Sigma Lithium

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Electron Capital Partners LLC purchased a new position in shares of Sigma Lithium during the fourth quarter worth about $69,703,000. Fourth Sail Capital LP purchased a new position in shares of Sigma Lithium during the first quarter worth about $2,430,000. Van ECK Associates Corp grew its holdings in shares of Sigma Lithium by 47.0% during the first quarter. Van ECK Associates Corp now owns 1,057,916 shares of the company’s stock worth $13,711,000 after buying an additional 338,380 shares during the last quarter. Frontier Capital Management Co. LLC grew its holdings in shares of Sigma Lithium by 26.0% during the fourth quarter. Frontier Capital Management Co. LLC now owns 2,258,218 shares of the company’s stock worth $71,202,000 after buying an additional 466,688 shares during the last quarter. Finally, 1832 Asset Management L.P. grew its holdings in shares of Sigma Lithium by 43.3% during the first quarter. 1832 Asset Management L.P. now owns 382,000 shares of the company’s stock worth $4,951,000 after buying an additional 115,438 shares during the last quarter. Hedge funds and other institutional investors own 64.86% of the company’s stock.

Sigma Lithium Company Profile

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.