Sigma Lithium (NASDAQ:SGML) Trading Down 7.3% – Time to Sell?

Sigma Lithium Corporation (NASDAQ:SGML)’s stock price dropped 7.3% on Wednesday . The company traded as low as $13.10 and last traded at $13.12. Approximately 517,911 shares were traded during trading, a decline of 87% from the average daily volume of 4,035,267 shares. The stock had previously closed at $14.15.

Analyst Ratings Changes

SGML has been the topic of a number of recent research reports. Zacks Research raised shares of Sigma Lithium from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 21st. Bank of America raised shares of Sigma Lithium from a “neutral” rating to a “buy” rating and upped their price target for the company from $14.00 to $17.00 in a research note on Thursday, April 2nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sigma Lithium in a research note on Friday, March 27th. Finally, Wall Street Zen raised shares of Sigma Lithium from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.50.

Sigma Lithium Trading Down 6.6%

The company has a debt-to-equity ratio of 0.21, a current ratio of 0.32 and a quick ratio of 0.25. The stock’s fifty day moving average price is $17.25 and its 200 day moving average price is $14.09. The stock has a market capitalization of $1.48 billion, a P/E ratio of -33.88 and a beta of 0.54.

Sigma Lithium (NASDAQ:SGML) last issued its earnings results on Friday, May 15th. The company reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. Sigma Lithium had a negative net margin of 41.84% and a negative return on equity of 57.50%. The company had revenue of $42.34 million for the quarter, compared to analysts’ expectations of $42.48 million. Research analysts forecast that Sigma Lithium Corporation will post 1.15 earnings per share for the current year.

Institutional Investors Weigh In On Sigma Lithium

A number of institutional investors have recently added to or reduced their stakes in SGML. Farther Finance Advisors LLC purchased a new position in shares of Sigma Lithium during the 4th quarter worth $51,000. GF Fund Management CO. LTD. purchased a new stake in Sigma Lithium in the 4th quarter valued at about $57,000. Deutsche Bank AG purchased a new stake in Sigma Lithium during the fourth quarter worth about $101,000. BTG Pactual Asset Management US LLC purchased a new stake in Sigma Lithium during the third quarter worth about $71,000. Finally, Quantbot Technologies LP purchased a new stake in Sigma Lithium during the third quarter worth about $82,000. Institutional investors and hedge funds own 64.86% of the company’s stock.

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.