Sigma Lithium Corporation $SGML Position Cut by Nucleo Capital LTDA.

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 position in shares of Sigma Lithium Corporation (NASDAQ:SGML - Free Report) by 22.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,127,708 shares of the company's stock after selling 328,404 shares during the quarter. Sigma Lithium comprises approximately 25.8% of Nucleo Capital LTDA.'s portfolio, making the stock its 3rd largest position. Nucleo Capital LTDA. owned about 1.01% of Sigma Lithium worth $11,728,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of brokerages have issued reports on SGML. 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 target price on the stock. Cormark raised Sigma Lithium to a "moderate buy" rating in a research report on Thursday, August 21st. Finally, Wall Street Zen lowered Sigma Lithium from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $12.00.

Sigma Lithium Stock Down 3.2%

NASDAQ:SGML traded down $0.19 during trading hours on Wednesday, hitting $5.63. The company's stock had a trading volume of 1,380,046 shares, compared to its average volume of 1,534,202. The stock has a market capitalization of $626.12 million, a P/E ratio of -12.78 and a beta of 0.09. The stock has a fifty day moving average of $6.00 and a 200-day moving average of $7.27. 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 52-week low of $4.25 and a 52-week high of $15.56.

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). The business had revenue of $16.89 million during the quarter, compared to analysts' expectations of $50.44 million. Sigma Lithium had a negative net margin of 35.69% and a negative return on equity of 47.19%. On average, equities analysts forecast that Sigma Lithium Corporation will post -0.12 earnings per share for the current year.

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.