Sigma Lithium (NASDAQ:SGML) Sees Large Volume Increase – Still a Buy?

Shares of Sigma Lithium Corporation (NASDAQ:SGML) saw an uptick in trading volume on Friday . 5,975,607 shares traded hands during mid-day trading, an increase of 14% from the previous session’s volume of 5,229,750 shares.The stock last traded at $12.6990 and had previously closed at $14.25.

Analysts Set New Price Targets

Several equities research analysts recently commented on SGML shares. Bank of America reaffirmed an “underperform” rating and set a $13.00 price objective (up from $11.00) on shares of Sigma Lithium in a research report on Thursday, January 8th. Zacks Research raised shares of Sigma Lithium from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 25th. BMO Capital Markets reiterated an “outperform” rating and issued a $18.00 price target on shares of Sigma Lithium in a research note on Wednesday. Weiss Ratings restated a “sell (e+)” rating on shares of Sigma Lithium in a research report on Monday, December 29th. Finally, Canaccord Genuity Group cut shares of Sigma Lithium from a “buy” rating to a “hold” rating in a report on Friday. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $15.50.

Sigma Lithium Price Performance

The company has a market capitalization of $1.34 billion and a P/E ratio of -38.79. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.49 and a quick ratio of 0.32. The firm’s 50-day moving average is $11.35 and its 200-day moving average is $7.92.

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

Institutional Investors Weigh In On Sigma Lithium

Large investors have recently made changes to their positions in the company. Woodline Partners LP grew its holdings in Sigma Lithium by 26.6% during the 3rd quarter. Woodline Partners LP now owns 2,964,909 shares of the company’s stock valued at $19,005,000 after buying an additional 623,832 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Sigma Lithium in the 3rd quarter valued at about $632,000. Verition Fund Management LLC bought a new stake in Sigma Lithium during the third quarter worth approximately $3,603,000. Millennium Management LLC lifted its stake in shares of Sigma Lithium by 6.4% in the 3rd quarter. Millennium Management LLC now owns 81,543 shares of the company’s stock valued at $520,000 after purchasing an additional 4,909 shares during the last quarter. Finally, Lighthouse Investment Partners LLC boosted its holdings in shares of Sigma Lithium by 27.1% in the 3rd quarter. Lighthouse Investment Partners LLC now owns 538,983 shares of the company’s stock worth $3,455,000 after purchasing an additional 114,768 shares during the period. 64.86% of the stock is owned by institutional investors.

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.