Sigma Lithium Sees Unusually High Options Volume (NASDAQ:SGML)

Sigma Lithium Corporation (NASDAQ:SGML) was the target of unusually large options trading on Wednesday. Stock investors purchased 24,365 call options on the company. This is an increase of approximately 363% compared to the typical daily volume of 5,261 call options.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on SGML shares. Bank of America raised Sigma Lithium from a “neutral” rating to a “buy” rating and increased their price target for the stock from $14.00 to $17.00 in a research report on Thursday, April 2nd. Zacks Research raised Sigma Lithium from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 21st. Weiss Ratings reissued a “sell (e+)” rating on shares of Sigma Lithium in a research report on Friday, March 27th. Finally, Wall Street Zen raised Sigma Lithium from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.50.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Farther Finance Advisors LLC bought a new position in shares of Sigma Lithium in the 4th quarter valued at $51,000. GF Fund Management CO. LTD. bought a new position in shares of Sigma Lithium in the 4th quarter valued at $57,000. Deutsche Bank AG bought a new position in shares of Sigma Lithium in the 4th quarter valued at $101,000. BTG Pactual Asset Management US LLC bought a new position in shares of Sigma Lithium in the 3rd quarter valued at $71,000. Finally, Quantbot Technologies LP bought a new position in shares of Sigma Lithium in the 3rd quarter valued at $82,000. 64.86% of the stock is currently owned by institutional investors.

Sigma Lithium Price Performance

Shares of SGML stock traded down $1.16 during trading hours on Wednesday, reaching $12.99. The company’s stock had a trading volume of 2,832,605 shares, compared to its average volume of 4,056,559. The firm’s 50 day simple moving average is $17.25 and its 200-day simple moving average is $14.09. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of -33.31 and a beta of 0.54. Sigma Lithium has a fifty-two week low of $4.25 and a fifty-two week high of $24.48. The company has a quick ratio of 0.25, a current ratio of 0.32 and a debt-to-equity ratio of 0.21.

Sigma Lithium (NASDAQ:SGML) last issued its earnings results on Friday, May 15th. The company reported $0.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.10. Sigma Lithium had a negative return on equity of 57.50% and a negative net margin of 41.84%.The firm had revenue of $42.34 million for the quarter, compared to the consensus estimate of $42.48 million. Sell-side analysts forecast that Sigma Lithium will post 1.15 earnings per share for the current year.

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.