Credit Industriel ET Commercial Grows Stock Position in Sigma Lithium Corporation $SGML

Key Points

• Credit Industriel ET Commercial increased its stake in Sigma Lithium Corporation by 177.8% during the second quarter, owning approximately 250,000 shares valued at $1,125,000.
• Sigma Lithium's stock had a 52-week range of $4.25 to $15.56 and was trading at $6.93, with a market cap of $771.72 million.
• Recent analyst ratings include a "buy" recommendation from Bank of America with a price target of $12.00, while one analyst rated it as a "sell," indicating mixed market sentiment.

Credit Industriel ET Commercial boosted its position in Sigma Lithium Corporation (NASDAQ:SGML - Free Report) by 177.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 250,000 shares of the company's stock after buying an additional 160,000 shares during the quarter. Credit Industriel ET Commercial owned approximately 0.22% of Sigma Lithium worth $1,125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in SGML. GAMMA Investing LLC purchased a new stake in Sigma Lithium in the 1st quarter worth about $139,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Sigma Lithium by 67.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 74,425 shares of the company's stock worth $774,000 after purchasing an additional 30,075 shares in the last quarter. Inscription Capital LLC purchased a new position in shares of Sigma Lithium in the first quarter worth about $208,000. Teacher Retirement System of Texas purchased a new position in shares of Sigma Lithium in the first quarter worth about $109,000. Finally, Alps Advisors Inc. grew its stake in Sigma Lithium by 66.4% in the 1st quarter. Alps Advisors Inc. now owns 105,066 shares of the company's stock valued at $1,093,000 after buying an additional 41,941 shares in the last quarter. Hedge funds and other institutional investors own 64.86% of the company's stock.

Sigma Lithium Price Performance

Sigma Lithium stock opened at $6.93 on Tuesday. Sigma Lithium Corporation has a 52 week low of $4.25 and a 52 week high of $15.56. The business has a 50-day simple moving average of $6.28 and a 200 day simple moving average of $6.39. The company has a quick ratio of 0.39, a current ratio of 0.60 and a debt-to-equity ratio of 1.26. The stock has a market cap of $771.72 million, a price-to-earnings ratio of -15.75 and a beta of 0.08.

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 the consensus estimate 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 business had revenue of $16.89 million for the quarter, compared to analysts' expectations of $50.44 million. On average, research analysts forecast that Sigma Lithium Corporation will post -0.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SGML. Bank of America initiated coverage on shares of Sigma Lithium in a research note on Tuesday, August 26th. They issued a "buy" rating and a $12.00 price objective for the company. Wall Street Zen cut Sigma Lithium from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Cormark raised Sigma Lithium to a "moderate buy" rating in a report on Thursday, August 21st. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Sigma Lithium in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus 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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