Woodline Partners LP Acquires 1,060,771 Shares of Sigma Lithium Corporation $SGML

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 raised its position in Sigma Lithium Corporation (NASDAQ:SGML - Free Report) by 65.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 2.41% of Sigma Lithium worth $27,856,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new position in Sigma Lithium in the first quarter valued at about $139,000. CenterBook Partners LP boosted its position in Sigma Lithium by 3.0% in the first quarter. CenterBook Partners LP now owns 157,982 shares of the company's stock valued at $1,643,000 after buying an additional 4,530 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Sigma Lithium by 9.4% in the first quarter. Goldman Sachs Group Inc. now owns 113,299 shares of the company's stock valued at $1,178,000 after buying an additional 9,748 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in Sigma Lithium in the first quarter valued at about $109,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Sigma Lithium during the fourth quarter worth approximately $150,000. 64.86% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SGML has been the topic of a number of research reports. Bank of America initiated coverage on shares of Sigma Lithium in a research report on Tuesday, August 26th. They set a "buy" rating and a $12.00 target price on the stock. Cormark upgraded shares of Sigma Lithium to a "moderate buy" rating in a research report on Thursday, August 21st. Finally, Wall Street Zen lowered shares of 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, the stock currently has an average rating of "Buy" and an average price target of $12.00.

Sigma Lithium Trading Down 0.4%

SGML stock traded down $0.02 during midday trading on Friday, reaching $5.41. The company's stock had a trading volume of 1,388,187 shares, compared to its average volume of 2,719,132. Sigma Lithium Corporation has a 52 week low of $4.25 and a 52 week high of $15.56. The stock has a market cap of $602.19 million, a PE ratio of -12.30 and a beta of 0.09. The company has a quick ratio of 0.39, a current ratio of 0.60 and a debt-to-equity ratio of 1.26. The business's 50-day simple moving average is $6.03 and its 200-day simple moving average is $7.17.

Sigma Lithium (NASDAQ:SGML - Get Free Report) last announced its quarterly earnings data 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 net margin of 35.69% and a negative return on equity of 47.19%. The business had revenue of $16.89 million during the quarter, compared to the consensus estimate of $50.44 million. As a group, sell-side analysts expect that Sigma Lithium Corporation will post -0.12 EPS for the current year.

Sigma Lithium Company 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.