Sigma Lithium (NASDAQ:SGML) Trading Up 10.1% - Here's Why

Key Points

• Sigma Lithium shares rose by 10.1%, trading as high as $6.98, despite a lower trading volume compared to averages.
• Analysts have mixed opinions with one upgrade to "moderate buy", while Bank of America decreased its price target from $12.00 to $10.00.
• The company reported a significant earnings miss, with an EPS of ($0.17) against a consensus estimate of ($0.03).

Sigma Lithium Corporation (NASDAQ:SGML - Get Free Report) shares traded up 10.1% during trading on Wednesday . The company traded as high as $6.86 and last traded at $6.98. 1,148,805 shares changed hands during trading, a decline of 35% from the average session volume of 1,776,892 shares. The stock had previously closed at $6.34.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Sigma Lithium in a research note on Wednesday, October 8th. Bank of America lowered their price target on shares of Sigma Lithium from $12.00 to $10.00 and set a "buy" rating for the company in a report on Tuesday. Cormark upgraded shares of Sigma Lithium to a "moderate buy" rating in a research report on Thursday, August 21st. Finally, Wall Street Zen lowered shares of Sigma Lithium from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $10.00.

Sigma Lithium Stock Performance

The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.39 and a current ratio of 0.60. The stock's fifty day moving average price is $6.30 and its 200-day moving average price is $6.39. The company has a market capitalization of $706.49 million, a P/E ratio of -14.60 and a beta of 0.08.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. GAMMA Investing LLC acquired a new position in shares of Sigma Lithium during the 1st quarter worth approximately $139,000. Teacher Retirement System of Texas acquired a new stake in Sigma Lithium in the first quarter valued at approximately $109,000. Malaga Cove Capital LLC acquired a new stake in Sigma Lithium in the second quarter valued at approximately $52,000. Hunting Hill Global Capital LLC acquired a new stake in Sigma Lithium in the second quarter valued at approximately $86,000. Finally, Nebula Research & Development LLC acquired a new stake in Sigma Lithium in the second quarter valued at approximately $87,000. 64.86% of the stock is owned by institutional investors.

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.