Squarepoint Ops LLC Acquires Shares of 115,543 Sigma Lithium Corporation $SGML

Key Points

• Squarepoint Ops LLC acquired 115,543 shares of Sigma Lithium during the second quarter, valued at approximately $1.46 million. Institutional investors collectively owned 64.86% of the company.
• Sigma Lithium reported a quarterly loss of $0.02 per share, missing the $0.23 consensus estimate, while revenue of $54.7 million fell short of expectations. The company posted negative net margin and return on equity.
• The stock opened at $9.09, well below its $18.50 average analyst price target. Analyst sentiment is mixed, with an overall “Hold” rating split between three Buy and three Sell recommendations.

Squarepoint Ops LLC bought a new position in shares of Sigma Lithium Corporation (NASDAQ:SGML - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 115,543 shares of the company's stock, valued at approximately $1,462,000. Squarepoint Ops LLC owned approximately 0.10% of Sigma Lithium at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SGML. Legal & General Group Plc raised its position in shares of Sigma Lithium by 101.7% during the fourth quarter. Legal & General Group Plc now owns 2,647,004 shares of the company's stock worth $34,911,000 after acquiring an additional 1,334,772 shares during the last quarter. BlackRock Inc. acquired a new position in Sigma Lithium during the 2nd quarter valued at about $29,727,000. Handelsbanken Fonder AB lifted its position in Sigma Lithium by 23.2% during the 2nd quarter. Handelsbanken Fonder AB now owns 1,498,133 shares of the company's stock valued at $18,951,000 after purchasing an additional 282,595 shares during the period. Encompass Capital Advisors LLC bought a new position in shares of Sigma Lithium in the 4th quarter valued at about $16,463,000. Finally, SIR Capital Management L.P. bought a new position in shares of Sigma Lithium in the 2nd quarter valued at about $4,754,000. 64.86% of the stock is owned by institutional investors.

Sigma Lithium Stock Up 2.0%

NASDAQ:SGML opened at $9.09 on Wednesday. Sigma Lithium Corporation has a 1 year low of $4.61 and a 1 year high of $24.48. The stock has a 50-day moving average price of $11.09 and a two-hundred day moving average price of $13.67. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -37.87 and a beta of 0.64. The company has a current ratio of 0.34, a quick ratio of 0.25 and a debt-to-equity ratio of 1.25.

Sigma Lithium (NASDAQ:SGML - Get Free Report) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.25). Sigma Lithium had a negative net margin of 19.36% and a negative return on equity of 37.40%. The business had revenue of $54.70 million for the quarter, compared to the consensus estimate of $68.34 million. As a group, equities analysts expect that Sigma Lithium Corporation will post 0.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Weiss Ratings cut shares of Sigma Lithium from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday, August 13th. Zacks Research downgraded Sigma Lithium from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 19th. Finally, Wall Street Zen lowered Sigma Lithium from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Three equities research analysts have rated the stock with a Buy rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $18.50.

About Sigma Lithium

Sigma Lithium Corporation is a Canadian mining and technology company focused on the exploration, development, and production of lithium products for the electric vehicle and energy storage industries. Its principal operations are located in Brazil, where the company is developing and operating the Grota do Cirilo lithium project in the state of Minas Gerais.

Grota do Cirilo produces battery-grade lithium spodumene concentrate, a key raw material used to manufacture lithium-ion batteries.

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