Sigma Lithium (NASDAQ:SGML) Shares Down 7.3% - What's Next?

Key Points

• Sigma Lithium's stock fell 7.3% during mid-day trading, reaching a low of $6.18 and closing at $6.22, significantly lower than its previous close of $6.71.
• Despite recent analyst upgrades and downgrades, Sigma Lithium maintains a consensus rating of "Buy" with a target price of $12.00, reflecting varying analyst sentiments.
• The company reported disappointing earnings with an EPS of ($0.17), missing estimates significantly, and revenue of $16.89 million, well below expectations.

Sigma Lithium Corporation (NASDAQ:SGML - Get Free Report)'s stock price was down 7.3% during mid-day trading on Tuesday . The stock traded as low as $6.18 and last traded at $6.22. Approximately 377,319 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 1,501,131 shares. The stock had previously closed at $6.71.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SGML shares. Cormark raised Sigma Lithium to a "moderate buy" rating in a research note on Thursday, August 21st. Wall Street Zen downgraded Sigma Lithium from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Finally, Bank of America started coverage on Sigma Lithium in a research note on Tuesday, August 26th. They issued a "buy" rating and a $12.00 price objective on the stock. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $12.00.

Sigma Lithium Price Performance

The firm has a 50 day moving average of $5.81 and a 200-day moving average of $7.46. The company has a market cap of $686.23 million, a P/E ratio of -14.06 and a beta of 0.09. The company has a current ratio of 0.60, a quick ratio of 0.39 and a debt-to-equity ratio of 1.26.

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

Institutional Trading of Sigma Lithium

Several institutional investors and hedge funds have recently added to or reduced their stakes in SGML. Aquatic Capital Management LLC bought a new stake in Sigma Lithium in the 4th quarter worth approximately $27,000. Malaga Cove Capital LLC bought a new stake in Sigma Lithium in the 2nd quarter worth approximately $52,000. Hunting Hill Global Capital LLC bought a new stake in Sigma Lithium in the 2nd quarter worth approximately $86,000. Nebula Research & Development LLC bought a new stake in Sigma Lithium in the 2nd quarter worth approximately $87,000. Finally, BNP Paribas Financial Markets increased its stake in Sigma Lithium by 15.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 21,897 shares of the company's stock worth $99,000 after acquiring an additional 3,005 shares during the last quarter. Institutional investors own 64.86% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.