Sigma Lithium (NASDAQ:SGML) Stock Price Up 7.6% – Should You Buy?

Sigma Lithium Corporation (NASDAQ:SGML) rose 7.6% during mid-day trading on Wednesday . The company traded as high as $21.89 and last traded at $22.1790. Approximately 1,347,102 shares traded hands during trading, a decline of 68% from the average daily volume of 4,222,645 shares. The stock had previously closed at $20.61.

Wall Street Analyst Weigh In

Several analysts have commented on SGML shares. Wall Street Zen raised Sigma Lithium from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. BMO Capital Markets reissued an “outperform” rating and issued a $18.00 target price on shares of Sigma Lithium in a report on Wednesday, January 14th. Weiss Ratings restated a “sell (e+)” rating on shares of Sigma Lithium in a research note on Friday, March 27th. Citigroup lowered shares of Sigma Lithium from an “overweight” rating to an “underperform” rating in a research report on Thursday, January 8th. Finally, Bank of America raised shares of Sigma Lithium from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $14.00 to $17.00 in a research note on Thursday, April 2nd. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $18.50.

Sigma Lithium Price Performance

The stock has a fifty day moving average of $14.68 and a two-hundred day moving average of $12.04. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of -49.04 and a beta of 0.04. The company has a quick ratio of 0.14, a current ratio of 0.25 and a debt-to-equity ratio of 0.26.

Sigma Lithium (NASDAQ:SGML) last announced its quarterly earnings data on Monday, March 30th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.10). Sigma Lithium had a negative net margin of 45.64% and a negative return on equity of 59.34%. The company had revenue of $16.90 million during the quarter, compared to analyst estimates of $52.20 million. On average, equities research analysts anticipate that Sigma Lithium Corporation will post 0.91 earnings per share for the current year.

Institutional Trading of Sigma Lithium

Several large investors have recently bought and sold shares of SGML. Ariose Capital Management Ltd acquired a new stake in Sigma Lithium during the 1st quarter valued at $3,826,000. Banque Cantonale Vaudoise lifted its position in shares of Sigma Lithium by 6.8% in the first quarter. Banque Cantonale Vaudoise now owns 55,143 shares of the company’s stock valued at $679,000 after acquiring an additional 3,489 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Sigma Lithium during the first quarter valued at $1,639,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Sigma Lithium during the fourth quarter valued at $298,000. Finally, Virtu Financial LLC increased its position in Sigma Lithium by 144.9% during the 4th quarter. Virtu Financial LLC now owns 49,112 shares of the company’s stock worth $648,000 after purchasing an additional 29,059 shares in the last quarter. Institutional investors and hedge funds own 64.86% of the company’s stock.

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.