Sigma Lithium (NASDAQ:SGML) Rating Lowered to Sell at 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 lowered 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 Down 7.3%

SGML stock traded down $0.47 during trading on Friday, reaching $5.94. 2,964,787 shares of the stock were exchanged, compared to its average volume of 3,550,907. The firm's 50 day moving average is $5.58 and its 200 day moving average is $7.77. Sigma Lithium has a twelve month low of $4.25 and a twelve month high of $15.56. The company has a current ratio of 0.60, a quick ratio of 0.67 and a debt-to-equity ratio of 1.26. The firm has a market cap of $661.18 million, a P/E ratio of -13.50 and a beta of 0.07.

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 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 firm had revenue of $16.89 million for the quarter, compared to analyst estimates of $50.44 million. As a group, research analysts forecast that Sigma Lithium will post -0.12 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SGML. Norges Bank acquired a new position in Sigma Lithium during the 2nd quarter worth approximately $11,250,000. Bamco Inc. NY acquired a new position in Sigma Lithium during the 4th quarter worth approximately $13,539,000. Woodline Partners LP raised its stake in Sigma Lithium by 65.6% during the 1st quarter. Woodline Partners LP now owns 2,678,444 shares of the company's stock worth $27,856,000 after buying an additional 1,060,771 shares during the period. Invesco Ltd. raised its stake in Sigma Lithium by 171.3% during the 4th quarter. Invesco Ltd. now owns 1,088,992 shares of the company's stock worth $12,218,000 after buying an additional 687,639 shares during the period. Finally, CenterBook Partners LP increased its holdings in Sigma Lithium by 416.8% during the 2nd quarter. CenterBook Partners LP now owns 816,515 shares of the company's stock worth $3,674,000 after purchasing an additional 658,533 shares in the last quarter. 64.86% of the stock is owned by institutional investors and hedge funds.

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.