Sigma Lithium (NASDAQ:SGML) Trading Up 3.8% – What’s Next?

Sigma Lithium Corporation (NASDAQ:SGML)’s stock price rose 3.8% during mid-day trading on Tuesday . The company traded as high as $15.22 and last traded at $15.0630. Approximately 662,373 shares changed hands during trading, a decline of 85% from the average daily volume of 4,346,022 shares. The stock had previously closed at $14.51.

Wall Street Analysts Forecast Growth

SGML has been the topic of a number of research analyst reports. Citigroup downgraded Sigma Lithium from an “overweight” rating to an “underperform” rating in a report on Thursday, January 8th. Wall Street Zen upgraded Sigma Lithium from a “sell” rating to a “hold” rating in a report on Saturday. BMO Capital Markets restated an “outperform” rating and set a $18.00 price target on shares of Sigma Lithium in a report on Wednesday, January 14th. Canaccord Genuity Group upgraded Sigma Lithium from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Sigma Lithium in a report on Friday, March 27th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $18.50.

Sigma Lithium Stock Performance

The company has a 50-day simple moving average of $12.39 and a two-hundred day simple moving average of $10.58. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.32 and a current ratio of 0.49. The firm has a market capitalization of $1.63 billion, a P/E ratio of -32.82, a PEG ratio of 0.29 and a beta of 0.04.

Sigma Lithium (NASDAQ:SGML) last posted its quarterly earnings data on Monday, March 30th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.10). The firm had revenue of $16.90 million for the quarter, compared to the consensus estimate of $52.20 million. Sigma Lithium had a negative net margin of 45.64% and a negative return on equity of 53.45%. As a group, equities analysts forecast that Sigma Lithium Corporation will post -0.12 EPS for the current year.

Institutional Trading of Sigma Lithium

A number of hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd bought a new stake in shares of Sigma Lithium in the 4th quarter worth approximately $298,000. Virtu Financial LLC boosted its position in shares of Sigma Lithium by 144.9% in the 4th quarter. Virtu Financial LLC now owns 49,112 shares of the company’s stock worth $648,000 after purchasing an additional 29,059 shares in the last quarter. Symmetry Investments LP bought a new stake in shares of Sigma Lithium in the 4th quarter worth approximately $790,000. Encompass Capital Advisors LLC bought a new stake in shares of Sigma Lithium in the 4th quarter worth approximately $16,463,000. Finally, Balyasny Asset Management L.P. boosted its position in shares of Sigma Lithium by 61.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 619,669 shares of the company’s stock worth $8,173,000 after purchasing an additional 236,942 shares in the last quarter. 64.86% of the stock is owned by institutional investors.

Sigma Lithium Company Profile

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.