Sigma Lithium (NASDAQ:SGML) Trading 7.2% Higher - Should You Buy?

Sigma Lithium Corporation (NASDAQ:SGML - Get Free Report) shares shot up 7.2% during mid-day trading on Thursday . The stock traded as high as $4.50 and last traded at $4.59. 138,243 shares traded hands during trading, a decline of 85% from the average session volume of 952,038 shares. The stock had previously closed at $4.28.

Wall Street Analyst Weigh In

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

Sigma Lithium Stock Performance

The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.67 and a current ratio of 0.85. The company has a 50-day moving average of $6.16 and a two-hundred day moving average of $9.24.

Sigma Lithium (NASDAQ:SGML - Get Free Report) last released its earnings results on Monday, March 31st. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.14). Sigma Lithium had a negative return on equity of 35.85% and a negative net margin of 24.36%. The company had revenue of $46.70 million during the quarter, compared to the consensus estimate of $71.77 million. Research analysts predict that Sigma Lithium Corporation will post -0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Sigma Lithium

Several hedge funds have recently added to or reduced their stakes in SGML. Aquatic Capital Management LLC purchased a new position in shares of Sigma Lithium in the fourth quarter worth $27,000. Teacher Retirement System of Texas purchased a new position in shares of Sigma Lithium in the first quarter worth $109,000. GAMMA Investing LLC purchased a new position in shares of Sigma Lithium in the first quarter worth $139,000. Pictet Asset Management Holding SA purchased a new position in shares of Sigma Lithium in the fourth quarter worth $142,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Sigma Lithium in the fourth quarter worth $150,000. 64.86% of the stock is owned by 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.