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

Sigma Lithium Corporation (NASDAQ:SGML - Get Free Report)'s stock price gapped up before the market opened 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.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Sigma Lithium from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd.

Sigma Lithium Trading Down 2.4%

The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.67 and a current ratio of 0.85. The company has a 50-day simple moving average of $6.54 and a two-hundred day simple moving average of $9.60.

Sigma Lithium (NASDAQ:SGML - Get Free Report) last released its earnings results on Monday, March 31st. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.14). Sigma Lithium had a negative net margin of 24.36% and a negative return on equity of 35.85%. The firm had revenue of $46.70 million during the quarter, compared to the consensus estimate of $71.77 million. Research analysts forecast that Sigma Lithium Corporation will post -0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich lifted its stake 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 purchasing an additional 1,464,475 shares during the last quarter. Norges Bank bought a new stake in Sigma Lithium in the fourth quarter valued at approximately $28,050,000. Lighthouse Investment Partners LLC lifted its position in shares of Sigma Lithium by 78.7% in the fourth quarter. Lighthouse Investment Partners LLC now owns 247,576 shares of the company's stock valued at $2,778,000 after buying an additional 109,064 shares during the last quarter. Sourcerock Group LLC boosted its stake in shares of Sigma Lithium by 46.0% during the 4th quarter. Sourcerock Group LLC now owns 1,387,222 shares of the company's stock worth $15,565,000 after acquiring an additional 437,010 shares during the period. Finally, BNP Paribas Financial Markets acquired a new position in shares of Sigma Lithium during the 4th quarter worth approximately $185,000. 64.86% of the stock is currently 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.