Sigma Lithium (NASDAQ:SGML) Shares Down 12.4% – Time to Sell?

Shares of Sigma Lithium Corporation (NASDAQ:SGML) were down 12.4% during trading on Tuesday . The stock traded as low as $10.20 and last traded at $10.8550. 1,357,760 shares traded hands during trading, a decline of 58% from the average daily volume of 3,233,171 shares. The stock had previously closed at $12.39.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SGML. Wall Street Zen downgraded shares of Sigma Lithium from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Zacks Research cut Sigma Lithium from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 19th. Finally, Weiss Ratings downgraded Sigma Lithium from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, August 13th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $18.50.

Sigma Lithium Price Performance

The company has a quick ratio of 0.25, a current ratio of 0.34 and a debt-to-equity ratio of 1.25. The stock has a market cap of $1.19 billion, a P/E ratio of -44.04 and a beta of 0.64. The firm’s fifty day moving average price is $11.31 and its 200-day moving average price is $13.78.

Sigma Lithium (NASDAQ:SGML) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.25). The firm had revenue of $54.70 million for the quarter, compared to the consensus estimate of $68.34 million. Sigma Lithium had a negative net margin of 19.36% and a negative return on equity of 37.40%. Analysts forecast that Sigma Lithium Corporation will post 0.45 earnings per share for the current year.

Institutional Trading of Sigma Lithium

Large investors have recently modified their holdings of the business. Deutsche Bank AG purchased a new stake in Sigma Lithium in the 4th quarter worth approximately $101,000. State of Wyoming bought a new position in shares of Sigma Lithium during the second quarter valued at approximately $109,000. Public Employees Retirement System of Ohio purchased a new stake in Sigma Lithium in the second quarter worth $128,000. BTG Pactual Asset Management US LLC purchased a new stake in Sigma Lithium in the third quarter worth $71,000. Finally, Quantbot Technologies LP bought a new stake in Sigma Lithium in the third quarter valued at $82,000. 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.