Bank of America Corp DE Sells 84,896 Shares of Sigma Lithium Co. (NASDAQ:SGML)

Bank of America Corp DE trimmed its position in shares of Sigma Lithium Co. (NASDAQ:SGML - Free Report) by 13.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 544,838 shares of the company's stock after selling 84,896 shares during the period. Bank of America Corp DE owned about 0.49% of Sigma Lithium worth $6,113,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of SGML. Aquatic Capital Management LLC bought a new position in shares of Sigma Lithium during the fourth quarter valued at about $27,000. U S Global Investors Inc. increased its position in shares of Sigma Lithium by 233.3% during the fourth quarter. U S Global Investors Inc. now owns 10,000 shares of the company's stock valued at $112,000 after buying an additional 7,000 shares during the period. Pictet Asset Management Holding SA purchased a new position in shares of Sigma Lithium during the fourth quarter valued at about $142,000. Handelsbanken Fonder AB purchased a new position in shares of Sigma Lithium during the fourth quarter valued at about $160,000. Finally, BNP Paribas Financial Markets purchased a new position in shares of Sigma Lithium during the fourth quarter valued at about $185,000. 64.86% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Sigma Lithium from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd.

Sigma Lithium Stock Down 5.3%

SGML traded down $0.28 during midday trading on Thursday, reaching $5.01. The company's stock had a trading volume of 1,229,132 shares, compared to its average volume of 800,223. The stock's 50-day moving average is $7.96 and its 200-day moving average is $10.56. Sigma Lithium Co. has a 1 year low of $5.00 and a 1 year high of $16.77. The company has a current ratio of 0.84, a quick ratio of 0.72 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $557.51 million, a price-to-earnings ratio of -10.44 and a beta of 0.30.

Sigma Lithium (NASDAQ:SGML - Get Free Report) last posted its quarterly earnings results on Monday, March 31st. The company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.14). Sigma Lithium had a negative net margin of 36.85% and a negative return on equity of 38.04%. The firm had revenue of $46.70 million for the quarter, compared to analysts' expectations of $71.77 million. As a group, research analysts expect that Sigma Lithium Co. will post -0.12 EPS 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.