Sigma Lithium (NASDAQ:SGML) Trading Up 9.7% - Should You Buy?

Key Points

• Sigma Lithium Corporation's stock rose by 9.7% to $7.71, despite a significant drop in trading volume compared to its average.
• Recent analyst ratings show mixed reviews with one "buy" rating from Bank of America and a "sell" rating from Weiss Ratings, leading to a consensus rating of "hold."
• The company reported a quarterly loss of ($0.17) earnings per share, falling short of analysts' expectations, with a revenue of $16.89 million against the estimated $50.44 million.

Sigma Lithium Corporation (NASDAQ:SGML - Get Free Report) shares were up 9.7% on Thursday . The stock traded as high as $7.65 and last traded at $7.71. Approximately 541,492 shares changed hands during trading, a decline of 67% from the average daily volume of 1,661,630 shares. The stock had previously closed at $7.03.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SGML shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Sigma Lithium in a research report on Wednesday. Wall Street Zen cut shares of Sigma Lithium from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Bank of America assumed coverage on shares of Sigma Lithium in a research report on Tuesday, August 26th. They set a "buy" rating and a $12.00 price objective for the company. Finally, Cormark raised shares of Sigma Lithium to a "moderate buy" rating in a research note on Thursday, August 21st. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $12.00.

Sigma Lithium Stock Performance

The firm has a market capitalization of $827.05 million, a P/E ratio of -16.89 and a beta of 0.08. The company's 50 day moving average is $6.17 and its 200-day moving average is $6.56. The company has a quick ratio of 0.39, a current ratio of 0.60 and a debt-to-equity ratio of 1.26.

Sigma Lithium (NASDAQ:SGML - Get Free Report) last released its quarterly earnings data 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). Sigma Lithium had a negative net margin of 35.69% and a negative return on equity of 47.19%. The business had revenue of $16.89 million during the quarter, compared to the consensus estimate of $50.44 million. As a group, equities analysts anticipate that Sigma Lithium Corporation will post -0.12 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Appian Way Asset Management LP lifted its position in shares of Sigma Lithium by 5.3% during the first quarter. Appian Way Asset Management LP now owns 4,963,006 shares of the company's stock valued at $51,615,000 after purchasing an additional 250,581 shares in the last quarter. Woodline Partners LP lifted its position in shares of Sigma Lithium by 65.6% during the first quarter. Woodline Partners LP now owns 2,678,444 shares of the company's stock valued at $27,856,000 after purchasing an additional 1,060,771 shares in the last quarter. Norges Bank bought a new position in shares of Sigma Lithium during the second quarter valued at about $11,250,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Sigma Lithium by 24.9% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,550,713 shares of the company's stock valued at $7,091,000 after purchasing an additional 309,338 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Sigma Lithium by 31.8% during the second quarter. Legal & General Group Plc now owns 1,305,075 shares of the company's stock valued at $5,948,000 after purchasing an additional 314,711 shares in the last quarter. 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.

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