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

Sigma Lithium Corporation (NASDAQ:SGML)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $14.80, but opened at $14.00. Sigma Lithium shares last traded at $14.3230, with a volume of 347,170 shares changing hands.

Analysts Set New Price Targets

Several analysts have recently issued reports on SGML shares. Wall Street Zen downgraded Sigma Lithium from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Zacks Research upgraded Sigma Lithium from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 21st. Weiss Ratings restated a “sell (e+)” rating on shares of Sigma Lithium in a research report on Friday, March 27th. Finally, Bank of America upgraded Sigma Lithium from a “neutral” rating to a “buy” rating and upped their price objective for the company 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 issued a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Sigma Lithium presently has a consensus rating of “Moderate Buy” and an average target price of $18.50.

Sigma Lithium Price Performance

The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of -34.90 and a beta of 0.54. The company has a 50 day moving average of $17.43 and a 200 day moving average of $14.29. The company has a quick ratio of 0.25, a current ratio of 0.32 and a debt-to-equity ratio of 0.21.

Sigma Lithium (NASDAQ:SGML) last released its earnings results on Friday, May 15th. The company reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. The firm had revenue of $42.34 million during the quarter, compared to analyst estimates of $42.48 million. Sigma Lithium had a negative return on equity of 57.50% and a negative net margin of 41.84%. As a group, equities research analysts forecast that Sigma Lithium Corporation will post 1.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Sigma Lithium

Several institutional investors have recently added to or reduced their stakes in SGML. Farther Finance Advisors LLC acquired a new position in Sigma Lithium in the fourth quarter valued at $51,000. GF Fund Management CO. LTD. acquired a new position in Sigma Lithium in the fourth quarter valued at $57,000. BTG Pactual Asset Management US LLC acquired a new position in Sigma Lithium in the third quarter valued at $71,000. Quantbot Technologies LP acquired a new stake in Sigma Lithium during the third quarter worth about $82,000. Finally, Nebula Research & Development LLC acquired a new stake in Sigma Lithium during the second quarter worth about $87,000. 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.