Sigma Lithium Sees Unusually Large Options Volume (NASDAQ:SGML)

Sigma Lithium Corporation (NASDAQ:SGML) saw some unusual options trading on Wednesday. Investors bought 24,365 call options on the company. This represents an increase of 363% compared to the typical volume of 5,261 call options.

Analysts Set New Price Targets

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

Sigma Lithium Trading Down 8.2%

NASDAQ:SGML traded down $1.16 during trading hours on Wednesday, hitting $12.99. 2,832,605 shares of the company were exchanged, compared to its average volume of 4,056,559. The company has a fifty day simple moving average of $17.25 and a 200 day simple moving average of $14.09. Sigma Lithium has a one year low of $4.25 and a one year high of $24.48. The company has a current ratio of 0.32, a quick ratio of 0.25 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of -33.31 and a beta of 0.54.

Sigma Lithium (NASDAQ:SGML) last posted its quarterly earnings data on Friday, May 15th. The company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. Sigma Lithium had a negative return on equity of 57.50% and a negative net margin of 41.84%.The firm had revenue of $42.34 million during the quarter, compared to analyst estimates of $42.48 million. Sell-side analysts expect that Sigma Lithium will post 1.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC bought a new position in shares of Sigma Lithium in the 4th quarter worth about $51,000. GF Fund Management CO. LTD. bought a new position in shares of Sigma Lithium in the 4th quarter worth about $57,000. BTG Pactual Asset Management US LLC bought a new position in shares of Sigma Lithium in the 3rd quarter worth about $71,000. Quantbot Technologies LP bought a new position in shares of Sigma Lithium in the 3rd quarter worth about $82,000. Finally, Nebula Research & Development LLC bought a new position in shares of Sigma Lithium in the 2nd quarter worth about $87,000. 64.86% of the stock is owned by institutional investors.

About Sigma Lithium

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.