Sigma Lithium Corporation $SGML Shares Bought by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. lifted its stake in shares of Sigma Lithium Corporation (NASDAQ:SGML - Free Report) by 95.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 440,000 shares of the company's stock after purchasing an additional 215,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.40% of Sigma Lithium worth $4,576,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. GAMMA Investing LLC acquired a new position in Sigma Lithium during the 1st quarter valued at approximately $139,000. Teacher Retirement System of Texas acquired a new position in shares of Sigma Lithium during the first quarter valued at $109,000. Squarepoint Ops LLC bought a new position in shares of Sigma Lithium during the fourth quarter worth about $150,000. BNP Paribas Financial Markets bought a new position in shares of Sigma Lithium during the fourth quarter worth about $185,000. Finally, Inscription Capital LLC acquired a new stake in shares of Sigma Lithium in the 1st quarter worth about $208,000. Institutional investors own 64.86% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SGML. Wall Street Zen lowered shares of Sigma Lithium from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Cormark upgraded Sigma Lithium to a "moderate buy" rating in a research report on Thursday, August 21st. Finally, Bank of America initiated coverage on Sigma Lithium in a report on Tuesday, August 26th. They issued a "buy" rating and a $12.00 price objective for the company. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Sigma Lithium presently has an average rating of "Buy" and an average target price of $12.00.

Sigma Lithium Price Performance

Shares of NASDAQ SGML traded down $0.33 during mid-day trading on Wednesday, reaching $5.48. 2,527,098 shares of the company traded hands, compared to its average volume of 1,541,153. Sigma Lithium Corporation has a fifty-two week low of $4.25 and a fifty-two week high of $15.56. The firm has a market cap of $609.98 million, a PE ratio of -12.45 and a beta of 0.09. The stock has a fifty day simple moving average of $6.00 and a 200-day simple moving average of $7.27. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.60 and a quick ratio of 0.39.

Sigma Lithium (NASDAQ:SGML - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported ($0.17) earnings per share for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.14). Sigma Lithium had a negative return on equity of 47.19% and a negative net margin of 35.69%.The firm had revenue of $16.89 million during the quarter, compared to analyst estimates of $50.44 million. Equities research analysts anticipate that Sigma Lithium Corporation will post -0.12 EPS for the current fiscal year.

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.