Sigma Lithium (NASDAQ:SGML) Shares Up 6% - Time to Buy?

Key Points

• Sigma Lithium Corporation shares increased by 6% during trading, reaching a last traded price of $6.49, despite a significant decline in trading volume.
• Analysts have mixed ratings on Sigma Lithium, with one firm downgrading the stock to "sell" while another upgraded it to "moderate buy," leading to an average target price of $16.00.
• The company reported a quarterly revenue of $16.89 million, which fell short of consensus estimates, and posted a negative EPS of ($0.17).

Sigma Lithium Corporation (NASDAQ:SGML - Get Free Report) shot up 6% during trading on Monday . The stock traded as high as $6.44 and last traded at $6.49. 773,851 shares changed hands during trading, a decline of 48% from the average session volume of 1,480,453 shares. The stock had previously closed at $6.12.

Analyst Upgrades and Downgrades

Several research firms have commented on SGML. Wall Street Zen downgraded shares of Sigma Lithium from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Cormark raised shares of Sigma Lithium to a "moderate buy" rating in a report on Thursday. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $16.00.

Sigma Lithium Stock Performance

The stock has a market capitalization of $694.57 million, a PE ratio of -14.18 and a beta of 0.07. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.60 and a quick ratio of 0.39. The business's fifty day moving average price is $5.62 and its 200-day moving average price is $7.66.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Appian Way Asset Management LP grew its holdings in shares of Sigma Lithium by 5.3% in the first quarter. Appian Way Asset Management LP now owns 4,963,006 shares of the company's stock worth $51,615,000 after purchasing an additional 250,581 shares during the last quarter. Woodline Partners LP boosted its holdings in Sigma Lithium by 65.6% in the first quarter. Woodline Partners LP now owns 2,678,444 shares of the company's stock valued at $27,856,000 after acquiring an additional 1,060,771 shares in the last quarter. Norges Bank bought a new stake in shares of Sigma Lithium during the 2nd quarter valued at $11,250,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Sigma Lithium by 24.9% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,550,713 shares of the company's stock valued at $7,091,000 after buying an additional 309,338 shares in the last quarter. Finally, Sourcerock Group LLC boosted its holdings 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 valued at $15,565,000 after buying an additional 437,010 shares in 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.

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