Wealth Enhancement Advisory Services LLC Has $64,000 Stake in Sigma Lithium Corporation $SGML

Key Points

• Wealth Enhancement Advisory Services LLC significantly reduced its stake in Sigma Lithium Corporation by 80.8% during the second quarter, now holding only 14,325 shares valued at $64,000.
• Sigma Lithium reported a quarterly earnings loss of ($0.17) per share, missing analyst expectations, and demonstrated negative financial metrics including a 47.19% return on equity.
• Analysts have varied ratings for Sigma Lithium, with one rating it as a "buy" and another as a "sell," resulting in a consensus rating of "Hold" and a price target of $12.00.

Wealth Enhancement Advisory Services LLC decreased its holdings in shares of Sigma Lithium Corporation (NASDAQ:SGML - Free Report) by 80.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,325 shares of the company's stock after selling 60,100 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Sigma Lithium were worth $64,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Appian Way Asset Management LP raised its stake in Sigma Lithium by 5.3% during the first quarter. Appian Way Asset Management LP now owns 4,963,006 shares of the company's stock worth $51,615,000 after acquiring an additional 250,581 shares in the last quarter. Woodline Partners LP raised its stake in Sigma Lithium by 65.6% during the first quarter. Woodline Partners LP now owns 2,678,444 shares of the company's stock worth $27,856,000 after acquiring an additional 1,060,771 shares in the last quarter. Decade Renewable Partners LP raised its stake in Sigma Lithium by 2.4% during the first quarter. Decade Renewable Partners LP now owns 882,621 shares of the company's stock worth $9,179,000 after acquiring an additional 20,760 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its stake in Sigma Lithium by 95.6% during the first quarter. Adage Capital Partners GP L.L.C. now owns 440,000 shares of the company's stock worth $4,576,000 after acquiring an additional 215,000 shares in the last quarter. Finally, Amundi acquired a new position in Sigma Lithium during the first quarter worth about $2,478,000. Institutional investors and hedge funds own 64.86% of the company's stock.

Sigma Lithium Price Performance

Sigma Lithium stock opened at $6.24 on Monday. The stock has a market capitalization of $694.89 million, a price-to-earnings ratio of -14.18 and a beta of 0.08. Sigma Lithium Corporation has a 52-week low of $4.25 and a 52-week high of $15.56. The stock's 50 day moving average price is $6.24 and its two-hundred day moving average price is $6.42. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.39 and a current ratio of 0.60.

Sigma Lithium (NASDAQ:SGML - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.14). Sigma Lithium had a negative return on equity of 47.19% and a negative net margin of 35.69%.The business had revenue of $16.89 million for the quarter, compared to the consensus estimate of $50.44 million. On average, equities analysts predict that Sigma Lithium Corporation will post -0.12 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the company. Cormark raised Sigma Lithium to a "moderate buy" rating in a research note on Thursday, August 21st. Wall Street Zen downgraded Sigma Lithium from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Sigma Lithium in a research note on Wednesday, October 8th. Finally, Bank of America began coverage on Sigma Lithium in a research note on Tuesday, August 26th. They issued a "buy" rating and a $12.00 price objective for the company. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $12.00.

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.

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