Polar Asset Management Partners Inc. Cuts Stock Position in Sigma Lithium Co. (NASDAQ:SGML)

Polar Asset Management Partners Inc. cut its holdings in Sigma Lithium Co. (NASDAQ:SGML - Free Report) by 50.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 121,600 shares of the company's stock after selling 124,900 shares during the quarter. Polar Asset Management Partners Inc. owned about 0.11% of Sigma Lithium worth $1,364,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Sigma Lithium from a "sell" rating to a "hold" rating in a research report on Thursday.

Sigma Lithium Stock Performance

SGML stock traded up $0.06 during trading on Thursday, hitting $5.55. 595,155 shares of the company traded hands, compared to its average volume of 785,877. The stock's 50-day simple moving average is $8.58 and its 200 day simple moving average is $10.82. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.84 and a quick ratio of 0.72. The company has a market cap of $617.05 million, a PE ratio of -11.50 and a beta of 0.30. Sigma Lithium Co. has a 1 year low of $5.24 and a 1 year high of $17.30.

Sigma Lithium (NASDAQ:SGML - Get Free Report) last announced its quarterly earnings results on Monday, March 31st. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.14). The company had revenue of $46.70 million for the quarter, compared to analysts' expectations of $71.77 million. Sigma Lithium had a negative net margin of 36.85% and a negative return on equity of 38.04%. On average, equities analysts expect that Sigma Lithium Co. will post -0.12 earnings per share for the current fiscal 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.