Sigma Lithium (NASDAQ:SGML) Shares Gap Up - Here's Why

Sigma Lithium Co. (NASDAQ:SGML - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $5.02, but opened at $5.26. Sigma Lithium shares last traded at $5.13, with a volume of 280,552 shares changing hands.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded 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 debt-to-equity ratio of 0.02, a current ratio of 0.84 and a quick ratio of 0.72. The stock's 50-day moving average price is $6.79 and its 200-day moving average price is $9.79. The company has a market cap of $570.32 million, a P/E ratio of -10.68 and a beta of 0.07.

Sigma Lithium (NASDAQ:SGML - Get Free Report) last posted 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). Sigma Lithium had a negative net margin of 36.85% and a negative return on equity of 38.04%. The business had revenue of $46.70 million during the quarter, compared to the consensus estimate of $71.77 million. Equities analysts anticipate that Sigma Lithium Co. will post -0.12 EPS for the current year.

Institutional Investors Weigh In On Sigma Lithium

A number of large investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Sigma Lithium in the fourth quarter valued at about $28,050,000. Bank Julius Baer & Co. Ltd Zurich increased its holdings in Sigma Lithium by 203.6% in 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 buying an additional 1,464,475 shares during the period. Bamco Inc. NY bought a new position in Sigma Lithium in the 4th quarter valued at about $13,539,000. Woodline Partners LP raised its position in shares of Sigma Lithium by 65.6% in the 1st quarter. Woodline Partners LP now owns 2,678,444 shares of the company's stock valued at $27,856,000 after buying an additional 1,060,771 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Sigma Lithium by 171.3% during the 4th quarter. Invesco Ltd. now owns 1,088,992 shares of the company's stock worth $12,218,000 after acquiring an additional 687,639 shares during the period. Institutional investors and hedge funds 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.

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