Sigma Lithium (NASDAQ:SGML) Shares Gap Down – What’s Next?

Sigma Lithium Corporation (NASDAQ:SGML) gapped down prior to trading on Tuesday . The stock had previously closed at $10.57, but opened at $10.14. Sigma Lithium shares last traded at $10.8230, with a volume of 1,089,976 shares.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SGML shares. Cormark upgraded Sigma Lithium to a “moderate buy” rating in a research note on Thursday, August 21st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sigma Lithium in a report on Tuesday, December 2nd. Zacks Research upgraded shares of Sigma Lithium from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 25th. Wall Street Zen lowered shares of Sigma Lithium from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Finally, Bank of America cut Sigma Lithium from a “buy” rating to a “neutral” rating and set a $7.00 price target on the stock. in a report on Friday, October 24th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Sigma Lithium has a consensus rating of “Reduce” and an average target price of $7.00.

Sigma Lithium Price Performance

The stock’s fifty day moving average price is $7.44 and its 200-day moving average price is $6.33. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.49 and a quick ratio of 0.32. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of -38.89 and a beta of 0.01.

Sigma Lithium (NASDAQ:SGML) last posted its quarterly earnings data on Friday, November 14th. The company reported ($0.10) earnings per share for the quarter, hitting the consensus estimate of ($0.10). The firm had revenue of $28.55 million for the quarter, compared to analysts’ expectations of $70.54 million. Sigma Lithium had a negative net margin of 24.13% and a negative return on equity of 35.97%. Equities research analysts predict that Sigma Lithium Corporation will post -0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Sigma Lithium

A number of institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets grew its stake in Sigma Lithium by 15.9% during the 2nd 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. Virtu Financial LLC grew its position in Sigma Lithium by 26.6% during the third quarter. Virtu Financial LLC now owns 20,053 shares of the company’s stock valued at $129,000 after purchasing an additional 4,210 shares in the last quarter. Electron Capital Partners LLC grew its position in Sigma Lithium by 0.4% during the second quarter. Electron Capital Partners LLC now owns 1,067,947 shares of the company’s stock valued at $4,806,000 after purchasing an additional 4,557 shares in the last quarter. Millennium Management LLC increased its stake in Sigma Lithium by 6.4% in the 3rd quarter. Millennium Management LLC now owns 81,543 shares of the company’s stock valued at $520,000 after buying an additional 4,909 shares during the period. Finally, Legal & General Group Plc lifted its position in Sigma Lithium by 0.5% in the 3rd quarter. Legal & General Group Plc now owns 1,312,232 shares of the company’s stock worth $8,416,000 after buying an additional 7,157 shares in the last quarter. 64.86% of the stock is currently owned by institutional investors and hedge funds.

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.