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

Shares of Sigma Lithium Co. (NASDAQ:SGML - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $8.26, but opened at $8.47. Sigma Lithium shares last traded at $8.09, with a volume of 60,611 shares changing hands.

Analyst Ratings Changes

Separately, Bank of America reduced their target price on Sigma Lithium from $25.00 to $16.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th.

Sigma Lithium Stock Performance

The business has a 50 day moving average of $9.93 and a 200 day moving average of $11.56. The company has a quick ratio of 0.72, a current ratio of 0.84 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $896.92 million, a P/E ratio of -16.79 and a beta of 0.26.

Sigma Lithium (NASDAQ:SGML - Get Free Report) last issued its quarterly earnings data on Monday, March 31st. The company reported ($0.08) earnings per share 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 company had revenue of $46.70 million for the quarter, compared to the consensus estimate of $71.77 million. On average, sell-side analysts predict that Sigma Lithium Co. will post -0.12 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC acquired a new stake in Sigma Lithium during the 1st quarter worth $139,000. Aquatic Capital Management LLC acquired a new position in Sigma Lithium during the 4th quarter worth approximately $27,000. U S Global Investors Inc. raised its position in shares of Sigma Lithium by 233.3% in the 4th quarter. U S Global Investors Inc. now owns 10,000 shares of the company's stock valued at $112,000 after purchasing an additional 7,000 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in shares of Sigma Lithium in the 1st quarter worth approximately $109,000. Finally, Pictet Asset Management Holding SA acquired a new position in Sigma Lithium in the fourth quarter valued at approximately $142,000. 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.