Weiss Ratings Reiterates Sell (D-) Rating for Sigma Lithium (NASDAQ:SGML)

Key Points

• Weiss Ratings has reiterated its "sell (D-)" rating for Sigma Lithium (NASDAQ: SGML), indicating ongoing concerns about the company's performance.
• Despite one analyst upgrading Sigma Lithium to a "moderate buy", the company has an average rating of "Hold" with a price target of $12.00 according to MarketBeat.com.
• Sigma Lithium's recent earnings report showed a loss of ($0.17) per share, significantly missing expectations and highlighting ongoing financial struggles for the company.

Sigma Lithium (NASDAQ:SGML - Get Free Report)'s stock had its "sell (d-)" rating reissued by stock analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Several other research analysts have also commented on the stock. Cormark upgraded shares of Sigma Lithium to a "moderate buy" rating in a report on Thursday, August 21st. Bank of America started coverage on shares of Sigma Lithium in a report on Tuesday, August 26th. They issued a "buy" rating and a $12.00 price target on the stock. 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 investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $12.00.

Sigma Lithium Trading Down 7.0%

Shares of SGML stock opened at $7.03 on Wednesday. The firm has a market cap of $782.52 million, a P/E ratio of -15.98 and a beta of 0.08. Sigma Lithium has a 1-year low of $4.25 and a 1-year high of $15.56. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.60 and a quick ratio of 0.39. The firm's 50-day simple moving average is $6.17 and its 200-day simple moving average is $6.56.

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

Institutional Trading of Sigma Lithium

Several large investors have recently bought and sold shares of the company. Electron Capital Partners LLC grew its position in Sigma Lithium by 0.4% in the second quarter. Electron Capital Partners LLC now owns 1,067,947 shares of the company's stock valued at $4,806,000 after acquiring an additional 4,557 shares in the last quarter. Engineers Gate Manager LP grew its position in Sigma Lithium by 252.7% in the second quarter. Engineers Gate Manager LP now owns 54,149 shares of the company's stock valued at $244,000 after acquiring an additional 38,795 shares in the last quarter. BNP Paribas Financial Markets grew its position in Sigma Lithium by 15.9% in the second quarter. BNP Paribas Financial Markets now owns 21,897 shares of the company's stock valued at $99,000 after acquiring an additional 3,005 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in Sigma Lithium in the second quarter valued at approximately $579,000. Finally, Bank of America Corp DE grew its position in shares of Sigma Lithium by 67.6% during the second quarter. Bank of America Corp DE now owns 1,041,043 shares of the company's stock worth $4,685,000 after buying an additional 419,740 shares in the last quarter. Institutional investors and hedge funds own 64.86% of the company's stock.

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.