Sigma Lithium (NASDAQ:SGML) Sets New 1-Year Low - Here's What Happened

Sigma Lithium Corporation (NASDAQ:SGML - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $4.25 and last traded at $4.35, with a volume of 1160183 shares. The stock had previously closed at $4.50.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Sigma Lithium from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd.

Sigma Lithium Trading Up 7.2%

The stock has a market cap of $573.65 million, a P/E ratio of -13.93 and a beta of 0.05. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.67 and a current ratio of 0.85. The stock's fifty day moving average is $5.86 and its 200 day moving average is $9.03.

Sigma Lithium (NASDAQ:SGML - Get Free Report) last issued its quarterly earnings data on Monday, March 31st. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 24.36% and a negative return on equity of 35.85%. As a group, equities research analysts predict that Sigma Lithium Corporation will post -0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Sigma Lithium in the fourth quarter valued at $28,050,000. Bank Julius Baer & Co. Ltd Zurich grew its holdings in Sigma Lithium by 203.6% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,183,675 shares of the company's stock valued at $24,501,000 after purchasing an additional 1,464,475 shares during the last quarter. Bamco Inc. NY purchased a new stake in Sigma Lithium in the 4th quarter worth about $13,539,000. Woodline Partners LP raised its position in Sigma Lithium by 65.6% in the 1st quarter. Woodline Partners LP now owns 2,678,444 shares of the company's stock worth $27,856,000 after purchasing an additional 1,060,771 shares during the period. Finally, Invesco Ltd. lifted its stake in Sigma Lithium by 171.3% in the fourth quarter. Invesco Ltd. now owns 1,088,992 shares of the company's stock worth $12,218,000 after purchasing an additional 687,639 shares during the last quarter. 64.86% of the stock is owned by hedge funds and other 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.