Appian Way Asset Management LP Purchases 620,024 Shares of Sigma Lithium Co. (NASDAQ:SGML)

Appian Way Asset Management LP raised its position in shares of Sigma Lithium Co. (NASDAQ:SGML - Free Report) by 15.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,712,425 shares of the company's stock after purchasing an additional 620,024 shares during the period. Sigma Lithium comprises 11.0% of Appian Way Asset Management LP's portfolio, making the stock its 4th biggest position. Appian Way Asset Management LP owned 4.24% of Sigma Lithium worth $52,873,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in SGML. Alliancebernstein L.P. increased its holdings in shares of Sigma Lithium by 10.9% in the 4th quarter. Alliancebernstein L.P. now owns 17,390 shares of the company's stock valued at $195,000 after acquiring an additional 1,710 shares during the period. Aquatic Capital Management LLC bought a new stake in shares of Sigma Lithium in the 4th quarter valued at about $27,000. U S Global Investors Inc. grew its position in shares of Sigma Lithium by 233.3% in the 4th quarter. U S Global Investors Inc. now owns 10,000 shares of the company's stock worth $112,000 after buying an additional 7,000 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Sigma Lithium by 8.4% during the 3rd quarter. Geode Capital Management LLC now owns 117,125 shares of the company's stock worth $1,448,000 after acquiring an additional 9,049 shares in the last quarter. Finally, Boothbay Fund Management LLC lifted its position in Sigma Lithium by 16.8% during the fourth quarter. Boothbay Fund Management LLC now owns 85,703 shares of the company's stock valued at $962,000 after acquiring an additional 12,308 shares during the last quarter. 64.86% of the stock is currently owned by hedge funds and other institutional investors.

Sigma Lithium Stock Down 3.9 %

Shares of SGML traded down $0.30 during mid-day trading on Tuesday, hitting $7.49. 575,242 shares of the company traded hands, compared to its average volume of 758,029. The business has a 50 day moving average of $9.65 and a 200 day moving average of $11.39. The company has a market capitalization of $833.49 million, a PE ratio of -15.60 and a beta of 0.30. The company has a quick ratio of 0.72, a current ratio of 0.84 and a debt-to-equity ratio of 0.02. Sigma Lithium Co. has a 1-year low of $6.76 and a 1-year high of $19.20.

Sigma Lithium (NASDAQ:SGML - Get Free Report) last posted its quarterly earnings results on Monday, March 31st. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.14). Sigma Lithium had a negative return on equity of 38.04% and a negative net margin of 36.85%. The company had revenue of $46.70 million during the quarter, compared to analysts' expectations of $71.77 million. Equities research analysts anticipate that Sigma Lithium Co. will post -0.12 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Bank of America decreased their price objective on Sigma Lithium from $25.00 to $16.00 and set a "buy" rating for the company in a report on Tuesday, January 14th.

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.