Sigma Lithium (NASDAQ:SGML) Trading Up 5.1% – What’s Next?

Sigma Lithium Co. (NASDAQ:SGML) shares were up 5.1% on Tuesday . The stock traded as high as $13.10 and last traded at $12.99. Approximately 256,396 shares were traded during trading, a decline of 76% from the average daily volume of 1,046,678 shares. The stock had previously closed at $12.36.

Wall Street Analyst Weigh In

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

Sigma Lithium Price Performance

The company has a current ratio of 1.05, a quick ratio of 0.96 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -96.62 and a beta of 0.16. The firm has a 50-day simple moving average of $10.59 and a two-hundred day simple moving average of $12.82.

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

Institutional Investors Weigh In On Sigma Lithium

A number of institutional investors have recently modified their holdings of the business. Fourth Sail Capital LP lifted its stake in Sigma Lithium by 1,572.2% in the 2nd quarter. Fourth Sail Capital LP now owns 3,134,797 shares of the company’s stock valued at $37,712,000 after buying an additional 2,947,331 shares in the last quarter. Electron Capital Partners LLC purchased a new position in Sigma Lithium in the 4th quarter valued at about $69,703,000. Appian Way Asset Management LP lifted its stake in Sigma Lithium by 47.2% in the 1st quarter. Appian Way Asset Management LP now owns 2,270,102 shares of the company’s stock valued at $29,421,000 after buying an additional 728,260 shares in the last quarter. Frontier Capital Management Co. LLC lifted its stake in Sigma Lithium by 26.0% in the 4th quarter. Frontier Capital Management Co. LLC now owns 2,258,218 shares of the company’s stock valued at $71,202,000 after buying an additional 466,688 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in Sigma Lithium by 47.0% in the 1st quarter. Van ECK Associates Corp now owns 1,057,916 shares of the company’s stock valued at $13,711,000 after buying an additional 338,380 shares in the last quarter. 64.86% of the stock is currently owned by institutional investors and hedge funds.

About Sigma Lithium

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.