Appian Way Asset Management LP Boosts Holdings in Sigma Lithium Corporation $SGML

Key Points

• Appian Way Asset Management LP has increased its holdings in Sigma Lithium Corporation by 5.3%, bringing its total shares to approximately 4.96 million, which accounts for 11.6% of its portfolio.
• Sigma Lithium's stock is currently trading at $6.71, with a market capitalization of $746.89 million, and a notable 1-year price range between $4.25 and $15.56.
• The company reported a quarterly EPS of ($0.17), missing estimates, with a revenue of $16.89 million, which is significantly below expectations of $50.44 million.

Appian Way Asset Management LP raised its stake in shares of Sigma Lithium Corporation (NASDAQ:SGML - Free Report) by 5.3% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 4,963,006 shares of the company's stock after acquiring an additional 250,581 shares during the period. Sigma Lithium makes up approximately 11.6% of Appian Way Asset Management LP's holdings, making the stock its 3rd biggest position. Appian Way Asset Management LP owned approximately 4.46% of Sigma Lithium worth $51,615,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. GAMMA Investing LLC purchased a new stake in shares of Sigma Lithium during the 1st quarter valued at about $139,000. Aquatic Capital Management LLC purchased a new stake in shares of Sigma Lithium during the 4th quarter valued at about $27,000. Teacher Retirement System of Texas purchased a new stake in shares of Sigma Lithium during the 1st quarter valued at about $109,000. Squarepoint Ops LLC purchased a new stake in shares of Sigma Lithium during the 4th quarter valued at about $150,000. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Sigma Lithium during the 4th quarter valued at about $185,000. Institutional investors own 64.86% of the company's stock.

Sigma Lithium Trading Up 3.4%

SGML stock opened at $6.71 on Tuesday. Sigma Lithium Corporation has a 1-year low of $4.25 and a 1-year high of $15.56. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.60 and a quick ratio of 0.39. The company has a market capitalization of $746.89 million, a price-to-earnings ratio of -15.25 and a beta of 0.09. The business has a 50 day simple moving average of $5.81 and a two-hundred day simple moving average of $7.46.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SGML shares. Bank of America started coverage on shares of Sigma Lithium in a report on Tuesday, August 26th. They issued a "buy" rating and a $12.00 target price for the company. Cormark raised shares of Sigma Lithium to a "moderate buy" rating in a report on Thursday, August 21st. Finally, Wall Street Zen lowered shares of Sigma Lithium from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $12.00.

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.

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