Sigma Lithium (NASDAQ:SGML) Trading 8.2% Higher – Still a Buy?

Sigma Lithium Corporation (NASDAQ:SGML)’s share price traded up 8.2% during trading on Thursday . The company traded as high as $13.98 and last traded at $14.0550. 752,520 shares changed hands during trading, a decline of 81% from the average session volume of 4,027,013 shares. The stock had previously closed at $12.99.

Analyst Ratings Changes

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

Sigma Lithium Trading Up 12.2%

The stock has a market cap of $1.63 billion, a P/E ratio of -37.53 and a beta of 0.54. The company has a current ratio of 0.32, a quick ratio of 0.25 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average price of $17.27 and a two-hundred day moving average price of $14.11.

Sigma Lithium (NASDAQ:SGML) last released its earnings results on Friday, May 15th. The company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. The firm had revenue of $42.34 million for the quarter, compared to the consensus estimate of $42.48 million. Sigma Lithium had a negative return on equity of 57.50% and a negative net margin of 41.84%. On average, research analysts expect that Sigma Lithium Corporation will post 1.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC bought a new position in shares of Sigma Lithium during the fourth quarter valued at approximately $51,000. GF Fund Management CO. LTD. bought a new position in shares of Sigma Lithium during the fourth quarter valued at approximately $57,000. BTG Pactual Asset Management US LLC bought a new position in shares of Sigma Lithium during the third quarter valued at approximately $71,000. Quantbot Technologies LP bought a new position in shares of Sigma Lithium during the third quarter valued at approximately $82,000. Finally, Nebula Research & Development LLC bought a new position in shares of Sigma Lithium during the second quarter valued at approximately $87,000. Institutional investors own 64.86% of the company’s stock.

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.