Sigma Lithium (NASDAQ:SGML) Shares Gap Up - Still a Buy?

Key Points

• Sigma Lithium's stock opened at $5.70 after closing at $5.41, indicating positive market movement.
• Equities analysts have mixed ratings for Sigma Lithium, with a "moderate buy" from Cormark and a "sell" from Wall Street Zen, while Bank of America sets a target price of $12.00.
• The company's recent earnings report showed a loss of ($0.17) EPS, significantly below analysts' expectations of ($0.03), with revenues of $16.89 million reported against estimates of $50.44 million.

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 $5.41, but opened at $5.70. Sigma Lithium shares last traded at $5.70, with a volume of 375,521 shares.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SGML shares. Cormark upgraded shares of Sigma Lithium to a "moderate buy" rating in a research report on Thursday, August 21st. 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 for the company. Finally, Wall Street Zen cut shares of Sigma Lithium from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $12.00.

Sigma Lithium Price Performance

The stock's 50-day moving average price is $6.03 and its 200 day moving average price is $7.11. The firm has a market capitalization of $640.59 million, a price-to-earnings ratio of -13.06 and a beta of 0.09. The company has a quick ratio of 0.39, a current ratio of 0.60 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) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.14). The business had revenue of $16.89 million during the quarter, compared to analyst estimates of $50.44 million. Sigma Lithium had a negative net margin of 35.69% and a negative return on equity of 47.19%. Equities research analysts expect that Sigma Lithium Corporation will post -0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sigma Lithium

A number of hedge funds have recently modified their holdings of the business. GAMMA Investing LLC acquired a new stake in shares of Sigma Lithium in the first quarter valued at about $139,000. BNP Paribas Financial Markets increased its position in Sigma Lithium by 15.9% during the second quarter. BNP Paribas Financial Markets now owns 21,897 shares of the company's stock worth $99,000 after purchasing an additional 3,005 shares during the last quarter. CenterBook Partners LP increased its position in Sigma Lithium by 3.0% during the first quarter. CenterBook Partners LP now owns 157,982 shares of the company's stock worth $1,643,000 after purchasing an additional 4,530 shares during the last quarter. Electron Capital Partners LLC increased its position in Sigma Lithium by 0.4% during the second quarter. Electron Capital Partners LLC now owns 1,067,947 shares of the company's stock worth $4,806,000 after purchasing an additional 4,557 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Sigma Lithium by 9.4% during the first quarter. Goldman Sachs Group Inc. now owns 113,299 shares of the company's stock worth $1,178,000 after purchasing an additional 9,748 shares during the last quarter. 64.86% of the stock is currently owned by institutional investors and hedge funds.

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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