Woodline Partners LP Has $27.86 Million Stock Holdings in Sigma Lithium Corporation $SGML

Woodline Partners LP raised its stake in Sigma Lithium Corporation (NASDAQ:SGML) by 65.6% in the 1st quarter, Holdings Channel.com reports. The fund owned 2,678,444 shares of the company’s stock after buying an additional 1,060,771 shares during the quarter. Woodline Partners LP’s holdings in Sigma Lithium were worth $27,856,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Ascent Group LLC acquired a new position in Sigma Lithium in the 1st quarter valued at $264,000. Goldman Sachs Group Inc. raised its holdings in Sigma Lithium by 9.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 113,299 shares of the company’s stock valued at $1,178,000 after acquiring an additional 9,748 shares in the last quarter. Amundi acquired a new position in Sigma Lithium in the 1st quarter valued at $2,478,000. Adage Capital Partners GP L.L.C. raised its holdings in Sigma Lithium by 95.6% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 440,000 shares of the company’s stock valued at $4,576,000 after acquiring an additional 215,000 shares in the last quarter. Finally, Appian Way Asset Management LP raised its holdings in shares of Sigma Lithium by 5.3% during the 1st quarter. Appian Way Asset Management LP now owns 4,963,006 shares of the company’s stock worth $51,615,000 after buying an additional 250,581 shares in the last quarter. 64.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SGML shares. Wall Street Zen cut Sigma Lithium from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Bank of America started coverage on Sigma Lithium in a report on Tuesday, August 26th. They set a “buy” rating and a $12.00 price target for the company. Finally, Cormark raised Sigma Lithium to a “moderate buy” rating in a report on Thursday, August 21st. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $12.00.

Sigma Lithium Trading Down 6.9%

Shares of SGML stock opened at $5.81 on Wednesday. The firm has a market capitalization of $646.71 million, a P/E ratio of -13.20 and a beta of 0.09. Sigma Lithium Corporation has a twelve month low of $4.25 and a twelve month high of $15.56. The company has a quick ratio of 0.39, a current ratio of 0.60 and a debt-to-equity ratio of 1.26. The stock’s fifty day simple moving average is $6.00 and its 200 day simple moving average is $7.27.

Sigma Lithium (NASDAQ:SGML) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.14). The firm had revenue of $16.89 million for the quarter, compared to the consensus estimate of $50.44 million. Sigma Lithium had a negative return on equity of 47.19% and a negative net margin of 35.69%. As a group, sell-side analysts predict that Sigma Lithium Corporation will post -0.12 EPS for the current fiscal year.

Sigma Lithium Company Profile

Sigma Lithium Corporation engages in the exploration and development of lithium deposits in Brazil. It holds a 100% interest in the Grota do Cirilo, Genipapo, Santa Clara, and São José properties comprising 29 mineral rights covering an area of approximately 185 square kilometers located in the Araçuaí and Itinga regions of the state of Minas Gerais, Brazil.