Sigma Lithium (NASDAQ:SGML) Shares Down 6.2% – What’s Next?

Sigma Lithium Corporation (NASDAQ:SGML) shares dropped 6.2% on Thursday . The stock traded as low as $10.66 and last traded at $10.8380. Approximately 1,275,248 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 2,737,716 shares. The stock had previously closed at $11.56.

Wall Street Analysts Forecast Growth

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

Sigma Lithium Trading Up 1.2%

The company’s fifty day moving average price is $7.65 and its two-hundred day moving average price is $6.41. 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 company has a market cap of $1.30 billion, a price-to-earnings ratio of -37.72 and a beta of 0.02.

Sigma Lithium (NASDAQ:SGML) last released its quarterly earnings results on Friday, November 14th. The company reported ($0.10) EPS for the quarter, hitting 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 for the quarter, compared to analyst estimates of $70.54 million. Research analysts expect that Sigma Lithium Corporation will post -0.12 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SGML. Waratah Capital Advisors Ltd. increased its position in Sigma Lithium by 93.0% in the 2nd quarter. Waratah Capital Advisors Ltd. now owns 227,330 shares of the company’s stock valued at $1,023,000 after acquiring an additional 109,530 shares in the last quarter. CenterBook Partners LP raised its position in Sigma Lithium by 416.8% in the 2nd quarter. CenterBook Partners LP now owns 816,515 shares of the company’s stock worth $3,674,000 after purchasing an additional 658,533 shares during the last quarter. Amundi bought a new position in Sigma Lithium in the 1st quarter valued at $2,478,000. Aberdeen Group plc bought a new position in Sigma Lithium in the 2nd quarter valued at $187,000. Finally, Woodline Partners LP increased its stake in shares of Sigma Lithium by 65.6% in the 1st quarter. Woodline Partners LP now owns 2,678,444 shares of the company’s stock valued at $27,856,000 after buying an additional 1,060,771 shares during the period. Institutional investors and hedge funds 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.