Sigma Lithium (NASDAQ:SGML) Shares Down 6.5% - Here's What Happened

Sigma Lithium Co. (NASDAQ:SGML - Get Free Report) shares fell 6.5% during mid-day trading on Tuesday . The company traded as low as $5.70 and last traded at $5.52. 112,428 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 792,272 shares. The stock had previously closed at $5.90.

Wall Street Analyst Weigh In

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

Sigma Lithium Trading Down 6.2%

The company has a debt-to-equity ratio of 0.02, a current ratio of 0.84 and a quick ratio of 0.72. The company has a market cap of $523.02 million, a PE ratio of -9.79 and a beta of 0.30. The company's 50 day simple moving average is $7.69 and its two-hundred day simple moving average is $10.44.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC purchased a new position in Sigma Lithium during the first quarter worth about $139,000. Aquatic Capital Management LLC acquired a new stake in shares of Sigma Lithium during the fourth quarter worth about $27,000. U S Global Investors Inc. lifted its position in shares of 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. Teacher Retirement System of Texas acquired a new stake in shares of Sigma Lithium during the first quarter worth about $109,000. Finally, Pictet Asset Management Holding SA acquired a new stake in shares of Sigma Lithium during the fourth quarter worth about $142,000. Hedge funds and other institutional investors own 64.86% of the company's stock.

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.