Sigma Lithium (NASDAQ:SGML) Sees Unusually-High Trading Volume - Here's What Happened

Key Points

• Sigma Lithium Corporation experienced a notable increase in trading volume, with approximately 2.73 million shares changing hands, a 59% increase from the previous session.
• Analysts have mixed ratings on Sigma Lithium, featuring a consensus rating of "Hold" and a price target of $12.00, with reports indicating both "buy" and "sell" recommendations.
• The company posted an earnings miss with a loss of ($0.17) EPS and revenue of $16.89 million, significantly below the consensus estimate of $50.44 million.

Sigma Lithium Corporation (NASDAQ:SGML - Get Free Report) shares saw unusually-high trading volume on Monday . Approximately 2,733,930 shares changed hands during trading, an increase of 59% from the previous session's volume of 1,720,036 shares.The stock last traded at $6.45 and had previously closed at $6.24.

Analysts Set New Price Targets

A number of research analysts recently commented on SGML shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Sigma Lithium in a research report on Wednesday, October 8th. Bank of America started coverage on shares of Sigma Lithium in a research report on Tuesday, August 26th. They set a "buy" rating and a $12.00 price objective on the stock. Wall Street Zen downgraded shares of Sigma Lithium from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Finally, Cormark raised shares of Sigma Lithium to a "moderate buy" rating in a research report on Thursday, August 21st. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $12.00.

Sigma Lithium Price Performance

The company has a quick ratio of 0.39, a current ratio of 0.60 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $764.49 million, a P/E ratio of -15.60 and a beta of 0.08. The company's 50-day simple moving average is $6.24 and its 200 day simple moving average is $6.42.

Sigma Lithium (NASDAQ:SGML - Get Free Report) last posted its 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 business had revenue of $16.89 million during the quarter, compared to the consensus estimate of $50.44 million. Sigma Lithium had a negative return on equity of 47.19% and a negative net margin of 35.69%. As a group, sell-side analysts expect that Sigma Lithium Corporation will post -0.12 earnings per share for the current fiscal year.

Institutional Trading of Sigma Lithium

Several large investors have recently added to or reduced their stakes in SGML. Malaga Cove Capital LLC bought a new stake in shares of Sigma Lithium during the 2nd quarter worth $52,000. Hunting Hill Global Capital LLC bought a new stake in shares of Sigma Lithium during the 2nd quarter worth $86,000. Nebula Research & Development LLC bought a new stake in shares of Sigma Lithium during the 2nd quarter worth $87,000. BNP Paribas Financial Markets boosted its holdings in shares of Sigma Lithium by 15.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 21,897 shares of the company's stock worth $99,000 after buying an additional 3,005 shares during the period. Finally, Levin Capital Strategies L.P. boosted its holdings in shares of Sigma Lithium by 125.0% during the 2nd quarter. Levin Capital Strategies L.P. now owns 22,500 shares of the company's stock worth $101,000 after buying an additional 12,500 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.

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