Sigma Lithium (NASDAQ:SGML) Trading 5.1% Higher – Here’s What Happened

Sigma Lithium Co. (NASDAQ:SGML)’s stock price shot up 5.1% during trading on Tuesday . The stock traded as high as $14.14 and last traded at $14.10. 196,218 shares were traded during mid-day trading, a decline of 81% from the average session volume of 1,030,677 shares. The stock had previously closed at $13.41.

Analyst Upgrades and Downgrades

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 note on Monday, August 19th.

Sigma Lithium Price Performance

The company has a debt-to-equity ratio of 0.02, a current ratio of 1.05 and a quick ratio of 0.96. The company’s 50 day simple moving average is $11.48 and its 200 day simple moving average is $12.86. The company has a market capitalization of $1.62 billion, a PE ratio of 160.11 and a beta of 0.18.

Sigma Lithium (NASDAQ:SGML) last posted its earnings results on Thursday, August 15th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.23). The firm had revenue of $45.94 million during the quarter, compared to analysts’ expectations of $69.70 million. Sigma Lithium had a net margin of 4.28% and a return on equity of 6.18%.

Institutional Investors Weigh In On Sigma Lithium

Institutional investors and hedge funds have recently made changes to their positions in the business. Fourth Sail Capital LP increased its position 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 acquiring an additional 2,947,331 shares during the period. Appian Way Asset Management LP grew its stake in shares of 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 purchasing an additional 728,260 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Sigma Lithium by 47.0% in the first quarter. Van ECK Associates Corp now owns 1,057,916 shares of the company’s stock valued at $13,711,000 after purchasing an additional 338,380 shares during the period. Millennium Management LLC raised its stake in shares of Sigma Lithium by 16.9% during the second quarter. Millennium Management LLC now owns 1,243,579 shares of the company’s stock worth $14,960,000 after purchasing an additional 179,355 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its stake in shares of Sigma Lithium by 18.0% during the second quarter. Point72 Asset Management L.P. now owns 1,144,492 shares of the company’s stock worth $13,768,000 after purchasing an additional 174,992 shares during the last quarter. 64.86% of the stock is owned by hedge funds and other institutional investors.

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.