Sigma Lithium (NASDAQ:SGML) Trading 6.6% Higher – Should You Buy?

Sigma Lithium Corporation (NASDAQ:SGML) shares shot up 6.6% during mid-day trading on Wednesday . The stock traded as high as $11.25 and last traded at $11.1210. Approximately 374,176 shares were traded during trading, a decline of 88% from the average session volume of 3,240,316 shares. The stock had previously closed at $10.43.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SGML shares. Weiss Ratings lowered Sigma Lithium from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, August 13th. Zacks Research downgraded shares of Sigma Lithium from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 19th. Finally, Wall Street Zen downgraded shares of Sigma Lithium from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Three research analysts have rated the stock with a Buy rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Sigma Lithium currently has an average rating of “Hold” and a consensus target price of $18.50.

Sigma Lithium Stock Performance

The company has a current ratio of 0.34, a quick ratio of 0.25 and a debt-to-equity ratio of 1.25. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -41.96 and a beta of 0.64. The stock has a 50 day moving average price of $11.27 and a two-hundred day moving average price of $13.77.

Sigma Lithium (NASDAQ:SGML) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.25). The company had revenue of $54.70 million for the quarter, compared to analyst estimates of $68.34 million. Sigma Lithium had a negative return on equity of 37.40% and a negative net margin of 19.36%. Analysts predict that Sigma Lithium Corporation will post 0.45 EPS for the current year.

Hedge Funds Weigh In On Sigma Lithium

Several institutional investors have recently modified their holdings of SGML. BTG Pactual Asset Management US LLC acquired a new stake in shares of Sigma Lithium in the 3rd quarter valued at approximately $71,000. Quantbot Technologies LP bought a new position in Sigma Lithium during the 3rd quarter worth approximately $82,000. Nebula Research & Development LLC acquired a new position in Sigma Lithium during the second quarter valued at approximately $87,000. Banque Cantonale Vaudoise grew its holdings in Sigma Lithium by 7,339.9% during the third quarter. Banque Cantonale Vaudoise now owns 15,103 shares of the company’s stock valued at $97,000 after purchasing an additional 14,900 shares during the period. Finally, BNP Paribas Financial Markets increased its stake 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 purchasing an additional 3,005 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 Corp. is a Canada-based mineral exploration and development company focused on the sustainable production of battery-grade lithium from hard rock deposits. The company’s flagship asset is the Grota do Cirilo lithium project, located in the state of Minas Gerais, Brazil. Grota do Cirilo comprises a fully permitted, low-altitude spodumene mine and processing plant designed to produce high-purity lithium concentrate and downstream lithium hydroxide for the global electric vehicle and energy storage markets.

Since its founding in 2018, Sigma Lithium has pursued a vertically integrated approach, overseeing each stage of production from ore extraction and beneficiation to chemical conversion.