Sigma Lithium (NASDAQ:SGML) Sees Large Volume Increase - Here's Why

Key Points

• Sigma Lithium Corporation experienced a notable increase in trading volume, with 1,180,933 shares traded on Friday, although this represents a 15% decline from the previous session.
• Analysts have adjusted their ratings for Sigma Lithium, upgrading it from a "sell" to a "hold" status, indicating a more cautious outlook for the company.
• Significant institutional investments have been made in Sigma Lithium, with major increases in holdings by firms such as JPMorgan Chase & Co. and Invesco Ltd., both reflecting growing interest in the stock.

Sigma Lithium Corporation (NASDAQ:SGML - Get Free Report) shares saw an uptick in trading volume on Friday . 1,180,933 shares were traded during mid-day trading, a decline of 15% from the previous session's volume of 1,381,558 shares.The stock last traded at $7.03 and had previously closed at $5.65.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Sigma Lithium from a "hold" rating to a "sell" rating in a research note on Saturday. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Sigma Lithium currently has a consensus rating of "Buy" and a consensus price target of $16.00.

Sigma Lithium Stock Performance

The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.67 and a current ratio of 0.60. The firm's 50 day simple moving average is $5.58 and its 200 day simple moving average is $7.77. The firm has a market capitalization of $661.19 million, a price-to-earnings ratio of -13.50 and a beta of 0.07.

Sigma Lithium (NASDAQ:SGML - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.14). Sigma Lithium had a negative net margin of 35.69% and a negative return on equity of 47.19%. The business had revenue of $16.89 million for the quarter, compared to analyst estimates of $50.44 million. Sell-side analysts forecast that Sigma Lithium Corporation will post -0.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sigma Lithium

Several institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC purchased a new position in shares of Sigma Lithium during the 1st quarter valued at approximately $139,000. Alliancebernstein L.P. increased its holdings in shares of Sigma Lithium by 10.9% during the 4th quarter. Alliancebernstein L.P. now owns 17,390 shares of the company's stock valued at $195,000 after purchasing an additional 1,710 shares in the last quarter. Aquatic Capital Management LLC purchased a new position in shares of Sigma Lithium during the 4th quarter valued at approximately $27,000. BNP Paribas Financial Markets increased 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 valued at $99,000 after purchasing an additional 3,005 shares in the last quarter. Finally, CenterBook Partners LP increased its holdings in shares of Sigma Lithium by 3.0% during the 1st quarter. CenterBook Partners LP now owns 157,982 shares of the company's stock valued at $1,643,000 after purchasing an additional 4,530 shares in 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.