Sigma Lithium (NASDAQ:SGML) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Sigma Lithium (NASDAQ:SGML) from a buy rating to a hold rating in a report released on Saturday.

A number of other research analysts have also commented on the stock. Weiss Ratings raised shares of Sigma Lithium from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 29th. Zacks Research downgraded Sigma Lithium from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 20th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Sigma Lithium presently has a consensus rating of “Hold” and an average price target of $18.50.

Sigma Lithium Trading Up 3.3%

Shares of SGML stock opened at $11.76 on Friday. Sigma Lithium has a 1 year low of $4.61 and a 1 year high of $24.48. The firm’s fifty day simple moving average is $12.14 and its 200 day simple moving average is $13.91. The firm has a market capitalization of $1.32 billion, a P/E ratio of -30.15 and a beta of 0.61. The company has a current ratio of 0.32, a quick ratio of 0.25 and a debt-to-equity ratio of 0.21.

Sigma Lithium (NASDAQ:SGML) last issued its quarterly earnings results on Friday, May 15th. The company reported $0.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.10. The firm had revenue of $16.90 million during the quarter, compared to the consensus estimate of $42.48 million. Sigma Lithium had a negative net margin of 41.84% and a negative return on equity of 57.50%. As a group, sell-side analysts predict that Sigma Lithium will post 1.15 EPS for the current year.

Institutional Investors Weigh In On Sigma Lithium

Large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC bought a new position in shares of Sigma Lithium during the 4th quarter worth approximately $51,000. GF Fund Management CO. LTD. bought a new stake in Sigma Lithium in the fourth quarter valued at $57,000. BTG Pactual Asset Management US LLC bought a new stake in Sigma Lithium in the third quarter valued at $71,000. Quantbot Technologies LP acquired a new position in Sigma Lithium during the third quarter worth $82,000. Finally, Nebula Research & Development LLC acquired a new position in Sigma Lithium during the second quarter worth $87,000. 64.86% of the stock is currently 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.