Sigma Lithium (NASDAQ:SGML) Hits New 12-Month High – What’s Next?

Sigma Lithium Corporation (NASDAQ:SGML) reached a new 52-week high on Tuesday . The company traded as high as $17.58 and last traded at $17.39, with a volume of 6469831 shares trading hands. The stock had previously closed at $14.85.

Analyst Upgrades and Downgrades

SGML has been the topic of a number of research reports. Canaccord Genuity Group upgraded Sigma Lithium from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. BMO Capital Markets restated an “outperform” rating and set a $18.00 price target on shares of Sigma Lithium in a research report on Wednesday, January 14th. Citigroup downgraded Sigma Lithium from an “overweight” rating to an “underperform” rating in a research report on Thursday, January 8th. Weiss Ratings restated a “sell (e+)” rating on shares of Sigma Lithium in a research report on Friday, March 27th. Finally, Wall Street Zen upgraded Sigma Lithium from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $18.50.

Sigma Lithium Stock Performance

The stock has a market cap of $1.94 billion, a PE ratio of -38.64 and a beta of 0.04. The company has a fifty day moving average price of $12.67 and a 200 day moving average price of $10.88. 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 released 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). The company had revenue of $16.90 million during the quarter, compared to analysts’ expectations of $52.20 million. Sigma Lithium had a negative return on equity of 59.34% and a negative net margin of 45.64%. Analysts expect that Sigma Lithium Corporation will post -0.12 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC purchased a new position in shares of Sigma Lithium in the fourth quarter worth about $51,000. GF Fund Management CO. LTD. bought a new stake in shares of Sigma Lithium in the fourth quarter worth about $57,000. BTG Pactual Asset Management US LLC bought a new stake in shares of Sigma Lithium in the third quarter worth about $71,000. Quantbot Technologies LP bought a new stake in shares of Sigma Lithium in the third quarter worth about $82,000. Finally, Nebula Research & Development LLC bought a new stake in shares of Sigma Lithium in the second quarter worth about $87,000. Hedge funds and other institutional investors 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.