Sigma Lithium (NASDAQ:SGML) Hits New 12-Month Low – Here’s Why

Sigma Lithium Co. (NASDAQ:SGML)’s share price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $7.05 and last traded at $8.60, with a volume of 2190984 shares traded. The stock had previously closed at $7.32.

Analyst Ratings Changes

Separately, Bank of America dropped their price target on shares of Sigma Lithium from $25.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th.

Sigma Lithium Trading Up 17.5 %

The firm has a market capitalization of $957.00 million, a price-to-earnings ratio of -17.92 and a beta of 0.26. The business’s 50-day simple moving average is $10.86 and its two-hundred day simple moving average is $12.06. The company has a quick ratio of 0.72, a current ratio of 0.84 and a debt-to-equity ratio of 0.02.

Sigma Lithium (NASDAQ:SGML) last posted its quarterly earnings data on Monday, March 31st. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.14). Sigma Lithium had a negative net margin of 36.85% and a negative return on equity of 38.04%. The business had revenue of $46.70 million during the quarter, compared to analysts’ expectations of $71.77 million. Equities analysts forecast that Sigma Lithium Co. will post -0.12 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of Sigma Lithium by 203.6% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,183,675 shares of the company’s stock valued at $24,501,000 after purchasing an additional 1,464,475 shares during the period. Norges Bank purchased a new position in Sigma Lithium in the fourth quarter worth approximately $28,050,000. State Street Corp purchased a new position in Sigma Lithium in the third quarter worth approximately $1,831,000. Geode Capital Management LLC lifted its stake in Sigma Lithium by 8.4% in the third quarter. Geode Capital Management LLC now owns 117,125 shares of the company’s stock worth $1,448,000 after acquiring an additional 9,049 shares during the last quarter. Finally, Handelsbanken Fonder AB purchased a new position in Sigma Lithium in the fourth quarter worth approximately $160,000. Hedge funds and other institutional investors own 64.86% of the company’s stock.

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.