Sigma Lithium (NASDAQ:SGML) Downgraded to "Sell" Rating by Wall Street Zen

Key Points

• Sigma Lithium was dropped from a "hold" to a "sell" rating by Wall Street Zen in a recent analyst report.
• The company's current share price is $6.40, with a market capitalization of approximately $712.38 million.
• About 64.86% of Sigma Lithium's stock is owned by institutional investors and hedge funds, indicating significant institutional interest.

Wall Street Zen downgraded shares of Sigma Lithium (NASDAQ:SGML - Free Report) from a hold rating to a sell rating in a report published on Saturday.

Sigma Lithium Stock Performance

NASDAQ:SGML traded up $0.0650 during trading hours on Friday, reaching $6.5150. The company had a trading volume of 1,682,108 shares, compared to its average volume of 1,460,585. Sigma Lithium has a 1-year low of $4.25 and a 1-year high of $15.56. The firm has a market cap of $725.18 million, a PE ratio of -14.78 and a beta of 0.07. The business's 50 day moving average price is $5.56 and its 200-day moving average price is $7.79. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.85 and a quick ratio of 0.67.

Sigma Lithium (NASDAQ:SGML - Get Free Report) last issued 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 analysts' expectations of $50.44 million. Sigma Lithium had a negative return on equity of 45.84% and a negative net margin of 35.69%. Research analysts forecast that Sigma Lithium will post -0.12 EPS for the current year.

Hedge Funds Weigh In On Sigma Lithium

Several institutional investors have recently made changes to their positions in SGML. Wealth Enhancement Advisory Services LLC grew its position in Sigma Lithium by 67.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 74,425 shares of the company's stock worth $774,000 after buying an additional 30,075 shares in the last quarter. Lighthouse Investment Partners LLC lifted its position in Sigma Lithium by 78.7% during the fourth quarter. Lighthouse Investment Partners LLC now owns 247,576 shares of the company's stock worth $2,778,000 after acquiring an additional 109,064 shares during the last quarter. Sourcerock Group LLC increased its holdings in shares of Sigma Lithium by 46.0% during the fourth quarter. Sourcerock Group LLC now owns 1,387,222 shares of the company's stock worth $15,565,000 after purchasing an additional 437,010 shares during the period. BNP Paribas Financial Markets bought a new position in Sigma Lithium in the fourth quarter valued at approximately $185,000. Finally, Point72 Asset Management L.P. lifted its holdings in Sigma Lithium by 349.0% in the fourth quarter. Point72 Asset Management L.P. now owns 405,274 shares of the company's stock valued at $4,547,000 after buying an additional 315,008 shares during the period. 64.86% of the stock is owned by institutional investors.

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.