Sigma Lithium (NASDAQ:SGML) Trading Down 5.2% - Here's What Happened

Key Points

• Sigma Lithium's stock (NASDAQ:SGML) saw a decline of 5.2% on Wednesday, trading as low as $7.19, significantly below its previous close of $7.56.
• The company reported a loss of ($0.17) EPS, missing the consensus estimate, with revenues of $16.89 million compared to analyst estimates of $50.44 million.
• Analysts have a consensus rating of "Hold" for Sigma Lithium, with one analyst rating it as a Buy and one as a Sell, and an average price target set at $12.00.

Sigma Lithium Corporation (NASDAQ:SGML - Get Free Report) traded down 5.2% on Wednesday . The company traded as low as $7.19 and last traded at $7.17. 384,554 shares were traded during trading, a decline of 77% from the average session volume of 1,652,438 shares. The stock had previously closed at $7.56.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Sigma Lithium in a report on Wednesday. Bank of America assumed coverage on Sigma Lithium in a report on Tuesday, August 26th. They issued a "buy" rating and a $12.00 target price on the stock. Cormark raised Sigma Lithium to a "moderate buy" rating in a report on Thursday, August 21st. Finally, Wall Street Zen downgraded Sigma Lithium from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Sigma Lithium has a consensus rating of "Hold" and an average price target of $12.00.

Sigma Lithium Stock Performance

The firm has a fifty day simple moving average of $6.14 and a 200-day simple moving average of $6.56. The company has a current ratio of 0.60, a quick ratio of 0.39 and a debt-to-equity ratio of 1.26. The stock has a market cap of $807.00 million, a price-to-earnings ratio of -16.47 and a beta of 0.08.

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

Institutional Trading of Sigma Lithium

Several institutional investors and hedge funds have recently made changes to their positions in the business. Malaga Cove Capital LLC bought a new stake in shares of Sigma Lithium in the 2nd quarter valued at $52,000. Hunting Hill Global Capital LLC acquired a new position in Sigma Lithium in the second quarter valued at about $86,000. Nebula Research & Development LLC acquired a new position in Sigma Lithium in the second quarter valued at about $87,000. BNP Paribas Financial Markets grew its stake in Sigma Lithium by 15.9% in the second quarter. BNP Paribas Financial Markets now owns 21,897 shares of the company's stock valued at $99,000 after acquiring an additional 3,005 shares during the period. Finally, Levin Capital Strategies L.P. grew its stake in Sigma Lithium by 125.0% in the second quarter. Levin Capital Strategies L.P. now owns 22,500 shares of the company's stock valued at $101,000 after acquiring an additional 12,500 shares during the period. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.