Nucleo Capital LTDA. Trims Stake in Sigma Lithium Corporation $SGML

Key Points

• Nucleo Capital LTDA. has reduced its stake in Sigma Lithium Corporation by 22.6%, now holding 1,127,708 shares after selling 328,404 during the first quarter.
• Despite lower earnings with a reported EPS of ($0.17), Sigma Lithium received a "buy" rating from Bank of America with a target price of $12.00.
• Institutional investors currently own 64.86% of Sigma Lithium's stock, indicating strong confidence from larger financial entities in the company.

Nucleo Capital LTDA. lessened its holdings in shares of Sigma Lithium Corporation (NASDAQ:SGML - Free Report) by 22.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,127,708 shares of the company's stock after selling 328,404 shares during the quarter. Sigma Lithium accounts for about 25.8% of Nucleo Capital LTDA.'s investment portfolio, making the stock its 3rd largest holding. Nucleo Capital LTDA. owned approximately 1.01% of Sigma Lithium worth $11,728,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

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

Sigma Lithium Stock Up 6.5%

NASDAQ:SGML traded up $0.39 during trading hours on Friday, hitting $6.43. The stock had a trading volume of 3,171,337 shares, compared to its average volume of 3,152,089. 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 1-year low of $4.25 and a 1-year high of $15.56. The business has a 50 day simple moving average of $5.94 and a two-hundred day simple moving average of $7.31. The company has a market cap of $715.72 million, a PE ratio of -14.61 and a beta of 0.09.

Sigma Lithium (NASDAQ:SGML - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.14). The firm had revenue of $16.89 million during the quarter, compared to analyst estimates of $50.44 million. Sigma Lithium had a negative net margin of 35.69% and a negative return on equity of 47.19%. 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.