Electron Capital Partners LLC Sells 177,311 Shares of Sigma Lithium Corporation $SGML

Key Points

• Electron Capital Partners LLC reduced its stake in Sigma Lithium Corporation by 14.3%, owning 1,063,390 shares after selling 177,311 shares during the first quarter.
• Institutional investors collectively own 64.86% of Sigma Lithium, with notable increases in holdings from various firms, including Wealth Enhancement Advisory Services LLC and Point72 Asset Management L.P.
• Sigma Lithium reported a (0.17) earnings per share (EPS) for the most recent quarter, missing analyst expectations, while analysts have a consensus target price of $12.00 for the stock.

Electron Capital Partners LLC decreased its holdings in Sigma Lithium Corporation (NASDAQ:SGML - Free Report) by 14.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,063,390 shares of the company's stock after selling 177,311 shares during the quarter. Sigma Lithium makes up about 0.7% of Electron Capital Partners LLC's investment portfolio, making the stock its 21st largest position. Electron Capital Partners LLC owned approximately 0.96% of Sigma Lithium worth $11,059,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Appian Way Asset Management LP raised its position in shares of Sigma Lithium by 5.3% during the first quarter. Appian Way Asset Management LP now owns 4,963,006 shares of the company's stock worth $51,615,000 after acquiring an additional 250,581 shares during the last quarter. Woodline Partners LP raised its position in shares of Sigma Lithium by 113.5% during the fourth quarter. Woodline Partners LP now owns 1,617,673 shares of the company's stock worth $18,150,000 after acquiring an additional 859,924 shares during the last quarter. Sourcerock Group LLC raised its position in shares of Sigma Lithium by 46.0% during the fourth quarter. Sourcerock Group LLC now owns 1,387,222 shares of the company's stock worth $15,565,000 after acquiring an additional 437,010 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Sigma Lithium by 1.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,254,882 shares of the company's stock worth $14,127,000 after acquiring an additional 22,828 shares during the last quarter. Finally, Decade Renewable Partners LP raised its position in shares of Sigma Lithium by 2.4% during the first quarter. Decade Renewable Partners LP now owns 882,621 shares of the company's stock worth $9,179,000 after acquiring an additional 20,760 shares during the last quarter. Institutional investors own 64.86% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SGML. Wall Street Zen downgraded Sigma Lithium from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. 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. Finally, Cormark upgraded Sigma Lithium to a "moderate buy" rating in a report on Thursday, August 21st. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $12.00.

Sigma Lithium Stock Down 7.3%

Shares of NASDAQ:SGML traded down $0.46 during mid-day trading on Tuesday, reaching $5.79. 1,597,274 shares of the stock were exchanged, compared to its average volume of 1,528,350. The stock's 50 day simple moving average is $5.97 and its 200-day simple moving average is $7.28. Sigma Lithium Corporation has a one year low of $4.25 and a one year high of $15.56. 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 company has a market cap of $643.93 million, a P/E ratio of -13.15 and a beta of 0.09.

Sigma Lithium (NASDAQ:SGML - Get Free Report) last issued its quarterly 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 net margin of 35.69% and a negative return on equity of 47.19%. The company had revenue of $16.89 million for the quarter, compared to analyst estimates of $50.44 million. As a group, equities research analysts predict that Sigma Lithium Corporation will post -0.12 EPS for the current year.

Sigma Lithium 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.