Sigma Lithium Target of Unusually High Options Trading (NASDAQ:SGML)

Sigma Lithium Corporation (NASDAQ:SGML - Get Free Report) was the recipient of unusually large options trading activity on Thursday. Stock investors purchased 2,370 call options on the stock. This represents an increase of 171% compared to the typical volume of 875 call options.

Hedge Funds Weigh In On Sigma Lithium

A number of hedge funds have recently added to or reduced their stakes in SGML. Goldman Sachs Group Inc. lifted its position in shares of Sigma Lithium by 9.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 113,299 shares of the company's stock valued at $1,178,000 after acquiring an additional 9,748 shares during the period. Woodline Partners LP lifted its position in Sigma Lithium by 65.6% during the first quarter. Woodline Partners LP now owns 2,678,444 shares of the company's stock worth $27,856,000 after purchasing an additional 1,060,771 shares during the period. Ascent Group LLC bought a new stake in Sigma Lithium during the first quarter worth about $264,000. Amundi acquired a new stake in Sigma Lithium during the first quarter worth about $2,478,000. Finally, Adage Capital Partners GP L.L.C. increased its holdings in Sigma Lithium by 95.6% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 440,000 shares of the company's stock valued at $4,576,000 after buying an additional 215,000 shares during the period. Institutional investors own 64.86% of the company's stock.

Sigma Lithium Price Performance

Shares of SGML stock traded up $0.35 on Thursday, hitting $5.16. The company's stock had a trading volume of 3,003,513 shares, compared to its average volume of 908,504. Sigma Lithium has a fifty-two week low of $4.25 and a fifty-two week high of $15.56. The stock's 50 day moving average is $5.92 and its 200-day moving average is $9.08. The company has a current ratio of 0.85, a quick ratio of 0.67 and a debt-to-equity ratio of 1.08.

Sigma Lithium (NASDAQ:SGML - Get Free Report) last announced its earnings results on Monday, March 31st. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $46.70 million for the quarter, compared to analyst estimates of $71.77 million. As a group, sell-side analysts forecast that Sigma Lithium will post -0.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.