Sigma Lithium (NASDAQ:SGML) Reaches New 12-Month Low - Here's Why

Sigma Lithium Corporation (NASDAQ:SGML - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $4.25 and last traded at $4.28, with a volume of 2300085 shares trading hands. The stock had previously closed at $4.55.

Analyst Ratings Changes

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

Sigma Lithium Stock Performance

The company has a current ratio of 0.85, a quick ratio of 0.67 and a debt-to-equity ratio of 1.08. The firm has a 50-day moving average of $6.26 and a 200-day moving average of $9.38. The stock has a market capitalization of $476.28 million, a price-to-earnings ratio of -11.57 and a beta of 0.07.

Sigma Lithium (NASDAQ:SGML - Get Free Report) last announced its quarterly earnings data on Monday, March 31st. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.14). The business had revenue of $46.70 million for the quarter, compared to analyst estimates 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, sell-side analysts predict that Sigma Lithium Corporation will post -0.12 earnings per share for the current year.

Institutional Trading of Sigma Lithium

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Woodline Partners LP lifted its holdings in Sigma Lithium by 65.6% in the first quarter. Woodline Partners LP now owns 2,678,444 shares of the company's stock valued at $27,856,000 after acquiring an additional 1,060,771 shares during the period. Ascent Group LLC acquired a new position in shares of Sigma Lithium in the 1st quarter valued at $264,000. Goldman Sachs Group Inc. lifted its stake in shares of Sigma Lithium by 9.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 113,299 shares of the company's stock valued at $1,178,000 after purchasing an additional 9,748 shares during the period. Amundi acquired a new position in Sigma Lithium in the 1st quarter worth about $2,478,000. Finally, Adage Capital Partners GP L.L.C. raised its stake in shares of Sigma Lithium by 95.6% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 440,000 shares of the company's stock worth $4,576,000 after buying an additional 215,000 shares during the period. 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.

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