Sigma Lithium Corporation $SGML Stock Position Boosted by Woodline Partners LP

Key Points

• Woodline Partners LP increased its ownership in Sigma Lithium Corporation by 65.6%, acquiring an additional 1,060,771 shares, bringing its total holdings to 2,678,444 shares worth approximately $27.86 million.
• Multiple hedge funds, including GAMMA Investing LLC and Teacher Retirement System of Texas, have also acquired new positions in Sigma Lithium, contributing to institutional investors owning 64.86% of the company.
• Analysts have mixed ratings on Sigma Lithium, with one upgrading it to a "moderate buy", while another downgraded it to a "sell"; however, the consensus rating remains a "buy" with a target price of $12.00.

Woodline Partners LP increased its stake in Sigma Lithium Corporation (NASDAQ:SGML - Free Report) by 65.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,678,444 shares of the company's stock after buying an additional 1,060,771 shares during the period. Woodline Partners LP owned about 2.41% of Sigma Lithium worth $27,856,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in SGML. Northern Trust Corp increased its stake in shares of Sigma Lithium by 40.4% in the fourth quarter. Northern Trust Corp now owns 124,554 shares of the company's stock worth $1,397,000 after buying an additional 35,848 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Sigma Lithium in the fourth quarter worth $185,000. Janus Henderson Group PLC bought a new stake in shares of Sigma Lithium in the fourth quarter worth $3,337,000. Interval Partners LP bought a new stake in shares of Sigma Lithium in the fourth quarter worth $279,000. Finally, Lighthouse Investment Partners LLC increased its stake in shares of Sigma Lithium by 78.7% in the fourth quarter. Lighthouse Investment Partners LLC now owns 247,576 shares of the company's stock worth $2,778,000 after buying an additional 109,064 shares during the last quarter. Institutional investors own 64.86% of the company's stock.

Wall Street Analysts Forecast Growth

SGML has been the topic of a number of research reports. Cormark raised shares of Sigma Lithium to a "moderate buy" rating in a report on Thursday, August 21st. Wall Street Zen cut shares of Sigma Lithium from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Finally, Bank of America initiated coverage on shares of Sigma Lithium in a report on Tuesday, August 26th. They set a "buy" rating and a $12.00 target price on the stock. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $12.00.

Sigma Lithium Stock Performance

Shares of Sigma Lithium stock traded up $0.40 during trading on Monday, hitting $5.81. 1,308,406 shares of the stock were exchanged, compared to its average volume of 1,543,105. The stock's fifty day moving average is $6.03 and its 200 day moving average is $7.11. The stock has a market cap of $646.15 million, a PE ratio of -13.19 and a beta of 0.09. 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 Corporation has a 12 month low of $4.25 and a 12 month high of $15.56.

Sigma Lithium (NASDAQ:SGML - Get Free Report) last released its quarterly 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 firm had revenue of $16.89 million for the quarter, compared to the consensus estimate of $50.44 million. Sigma Lithium had a negative return on equity of 47.19% and a negative net margin of 35.69%. As a group, sell-side analysts anticipate that Sigma Lithium Corporation 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.