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

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Amundi purchased a new stake in shares of Sigma Lithium in the 1st quarter worth approximately $2,478,000. Adage Capital Partners GP L.L.C. grew its stake in shares of Sigma Lithium by 95.6% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 440,000 shares of the company's stock worth $4,576,000 after buying an additional 215,000 shares during the last quarter. Appian Way Asset Management LP grew its stake in shares of Sigma Lithium by 5.3% in the 1st quarter. Appian Way Asset Management LP now owns 4,963,006 shares of the company's stock worth $51,615,000 after buying an additional 250,581 shares during the last quarter. Decade Renewable Partners LP grew its stake in shares of Sigma Lithium by 2.4% in the 1st quarter. Decade Renewable Partners LP now owns 882,621 shares of the company's stock worth $9,179,000 after buying an additional 20,760 shares during the last quarter. Finally, Caption Management LLC grew its stake in shares of Sigma Lithium by 116.0% in the 1st quarter. Caption Management LLC now owns 58,104 shares of the company's stock worth $604,000 after buying an additional 422,100 shares during the last quarter. Hedge funds and other institutional investors own 64.86% of the company's stock.

Sigma Lithium Trading Down 3.0%

Shares of NASDAQ:SGML traded down $0.19 during trading on Monday, reaching $6.24. The company's stock had a trading volume of 1,450,297 shares, compared to its average volume of 1,528,208. The company has a current ratio of 0.60, a quick ratio of 0.39 and a debt-to-equity ratio of 1.26. Sigma Lithium Corporation has a 12 month low of $4.25 and a 12 month high of $15.56. The firm's 50 day simple moving average is $5.94 and its two-hundred day simple moving average is $7.31. The stock has a market capitalization of $694.59 million, a PE ratio of -14.18 and a beta of 0.09.

Sigma Lithium (NASDAQ:SGML - Get Free Report) last announced its quarterly 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). Sigma Lithium had a negative net margin of 35.69% and a negative return on equity of 47.19%. The business had revenue of $16.89 million during the quarter, compared to the consensus estimate of $50.44 million. On average, research analysts predict that Sigma Lithium Corporation will post -0.12 EPS for the current fiscal year.

Analyst Ratings Changes

SGML has been the topic of several recent research reports. Cormark upgraded Sigma Lithium to a "moderate buy" rating in a research note on Thursday, August 21st. Bank of America began coverage on Sigma Lithium in a research report on Tuesday, August 26th. They issued a "buy" rating and a $12.00 price objective on the stock. Finally, Wall Street Zen cut 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, Based on data from MarketBeat, Sigma Lithium has a consensus rating of "Buy" and a consensus target price 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.