Sigma Lithium (NASDAQ:SGML) Trading Up 4.2% - Time to Buy?

Key Points

• Sigma Lithium's stock price rose by 4.2% during trading on Thursday, reaching a last traded price of $6.83, though trading volume was significantly lower than the average.
• Research analysts have mixed views on the stock, with Bank of America giving a "buy" rating and a target price of $12.00, while Wall Street Zen downgraded it to a "sell" rating.
• The company reported a loss of $0.17 per share for the last quarter, missing analyst expectations, while revenue was significantly below consensus estimates.

Sigma Lithium Corporation (NASDAQ:SGML - Get Free Report) rose 4.2% during trading on Thursday . The stock traded as high as $6.65 and last traded at $6.83. Approximately 294,160 shares changed hands during trading, a decline of 81% from the average daily volume of 1,569,377 shares. The stock had previously closed at $6.55.

Wall Street Analyst Weigh In

SGML has been the subject of several research analyst reports. Cormark upgraded Sigma Lithium to a "moderate buy" rating in a research note on Thursday, August 21st. Bank of America began coverage on Sigma Lithium in a research note on Tuesday, August 26th. They set a "buy" rating and a $12.00 target price for the company. Finally, Wall Street Zen downgraded Sigma Lithium from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $12.00.

Sigma Lithium Trading Up 11.2%

The business has a 50-day moving average price of $6.08 and a two-hundred day moving average price of $6.86. The stock has a market capitalization of $810.89 million, a P/E ratio of -16.57 and a beta of 0.09. The company has a current ratio of 0.60, a quick ratio of 0.39 and a debt-to-equity ratio of 1.26.

Sigma Lithium (NASDAQ:SGML - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported ($0.17) earnings per share for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.14). The company had revenue of $16.89 million for 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%. On average, analysts expect that Sigma Lithium Corporation will post -0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Sigma Lithium

Institutional investors have recently modified their holdings of the business. GAMMA Investing LLC bought a new stake in shares of Sigma Lithium in the 1st quarter valued at about $139,000. BNP Paribas Financial Markets grew its position in shares of Sigma Lithium by 15.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 21,897 shares of the company's stock valued at $99,000 after buying an additional 3,005 shares during the last quarter. CenterBook Partners LP grew its position in shares of Sigma Lithium by 3.0% in the 1st quarter. CenterBook Partners LP now owns 157,982 shares of the company's stock valued at $1,643,000 after buying an additional 4,530 shares during the last quarter. Electron Capital Partners LLC grew its position in shares of Sigma Lithium by 0.4% in the 2nd quarter. Electron Capital Partners LLC now owns 1,067,947 shares of the company's stock valued at $4,806,000 after buying an additional 4,557 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Sigma Lithium by 9.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 113,299 shares of the company's stock valued at $1,178,000 after buying an additional 9,748 shares during the last quarter. Institutional investors and hedge funds 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.

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