Sigma Lithium (NASDAQ:SGML) Shares Gap Down – Time to Sell?

Shares of Sigma Lithium Corporation (NASDAQ:SGML) gapped down before the market opened on Wednesday . The stock had previously closed at $10.53, but opened at $10.17. Sigma Lithium shares last traded at $9.7550, with a volume of 986,697 shares traded.

Analyst Ratings Changes

A number of analysts recently weighed in on SGML shares. Zacks Research upgraded Sigma Lithium from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 25th. Wall Street Zen downgraded Sigma Lithium from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Sigma Lithium in a research report on Tuesday. Bank of America downgraded shares of Sigma Lithium from a “buy” rating to a “neutral” rating and set a $7.00 price target for the company. in a report on Friday, October 24th. Finally, Cormark upgraded shares of Sigma Lithium to a “moderate buy” rating in a research note on Thursday, August 21st. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Sigma Lithium has an average rating of “Reduce” and a consensus price target of $7.00.

Sigma Lithium Stock Performance

The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -32.19 and a beta of 0.02. The stock’s 50 day moving average is $7.32 and its 200 day moving average is $6.26. The company has a current ratio of 0.49, a quick ratio of 0.32 and a debt-to-equity ratio of 1.38.

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

Hedge Funds Weigh In On Sigma Lithium

A number of institutional investors have recently made changes to their positions in SGML. Malaga Cove Capital LLC acquired a new stake in shares of Sigma Lithium during the second quarter valued at $52,000. BTG Pactual Asset Management US LLC purchased a new position in Sigma Lithium in the 3rd quarter valued at about $71,000. Quantbot Technologies LP acquired a new stake in shares of Sigma Lithium during the 3rd quarter worth about $82,000. Hunting Hill Global Capital LLC purchased a new stake in shares of Sigma Lithium during the second quarter worth about $86,000. Finally, Nebula Research & Development LLC acquired a new position in shares of Sigma Lithium in the second quarter valued at approximately $87,000. 64.86% of the stock is owned by institutional investors and hedge funds.

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.