Sigma Lithium (NASDAQ:SGML) Stock Price Down 6.2%

Sigma Lithium Co. (NASDAQ:SGML) shares dropped 6.2% on Wednesday . The stock traded as low as $11.71 and last traded at $11.71. Approximately 656,537 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 1,051,794 shares. The stock had previously closed at $12.49.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets dropped their price objective on shares of Sigma Lithium from $25.00 to $20.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th.

Sigma Lithium Price Performance

The business has a 50 day moving average of $10.52 and a two-hundred day moving average of $12.86. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.96 and a current ratio of 1.05.

Sigma Lithium (NASDAQ:SGML) last released its quarterly earnings results on Thursday, August 15th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.23). Sigma Lithium had a net margin of 4.28% and a return on equity of 6.18%. The firm had revenue of $45.94 million for the quarter, compared to analysts’ expectations of $69.70 million. As a group, equities analysts forecast that Sigma Lithium Co. will post 0.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Sigma Lithium

Several institutional investors have recently bought and sold shares of SGML. Electron Capital Partners LLC purchased a new stake in shares of Sigma Lithium during the 4th quarter valued at $69,703,000. Fourth Sail Capital LP purchased a new stake in Sigma Lithium in the first quarter valued at about $2,430,000. Van ECK Associates Corp boosted its holdings in Sigma Lithium by 47.0% in the first quarter. Van ECK Associates Corp now owns 1,057,916 shares of the company’s stock worth $13,711,000 after acquiring an additional 338,380 shares in the last quarter. 1832 Asset Management L.P. grew its stake in shares of Sigma Lithium by 43.3% during the first quarter. 1832 Asset Management L.P. now owns 382,000 shares of the company’s stock worth $4,951,000 after acquiring an additional 115,438 shares during the last quarter. Finally, Frontier Capital Management Co. LLC increased its holdings in shares of Sigma Lithium by 26.0% during the fourth quarter. Frontier Capital Management Co. LLC now owns 2,258,218 shares of the company’s stock valued at $71,202,000 after acquiring an additional 466,688 shares in the last quarter. 64.86% of the stock is currently owned by institutional investors and hedge funds.

Sigma Lithium Company Profile

Sigma Lithium Corporation engages in the exploration and development of lithium deposits in Brazil. It holds a 100% interest in the Grota do Cirilo, Genipapo, Santa Clara, and São José properties comprising 29 mineral rights covering an area of approximately 185 square kilometers located in the Araçuaí and Itinga regions of the state of Minas Gerais, Brazil.