Sigma Lithium (NASDAQ:SGML) Shares Down 2.1% - Should You Sell?

Sigma Lithium Co. (NASDAQ:SGML - Get Free Report)'s share price traded down 2.1% during mid-day trading on Tuesday . The stock traded as low as $8.20 and last traded at $8.21. 27,609 shares were traded during mid-day trading, a decline of 96% from the average session volume of 752,732 shares. The stock had previously closed at $8.39.

Wall Street Analyst Weigh In

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

Sigma Lithium Trading Down 7.6 %

The stock has a market capitalization of $794.53 million, a price-to-earnings ratio of -14.87 and a beta of 0.26. The business has a 50-day moving average of $10.41 and a 200-day moving average of $11.82. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.72 and a current ratio of 0.84.

Sigma Lithium (NASDAQ:SGML - Get Free Report) last announced its earnings results 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 return on equity of 38.04% and a negative net margin of 36.85%. The business had revenue of $46.70 million for the quarter, compared to analysts' expectations of $71.77 million. As a group, research analysts forecast that Sigma Lithium Co. will post -0.12 EPS for the current year.

Institutional Trading of Sigma Lithium

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC acquired a new stake in shares of Sigma Lithium during the first quarter worth $139,000. Aquatic Capital Management LLC purchased a new stake in shares of Sigma Lithium in the fourth quarter valued at about $27,000. Public Employees Retirement System of Ohio acquired a new position in shares of Sigma Lithium during the third quarter worth about $122,000. U S Global Investors Inc. raised its holdings in Sigma Lithium by 233.3% during the fourth quarter. U S Global Investors Inc. now owns 10,000 shares of the company's stock worth $112,000 after purchasing an additional 7,000 shares in the last quarter. Finally, Pictet Asset Management Holding SA acquired a new stake in Sigma Lithium in the fourth quarter valued at about $142,000. 64.86% of the stock is owned by hedge funds and other institutional investors.

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.