Sigma Lithium (NASDAQ:SGML) Sees Large Volume Increase – What’s Next?

Shares of Sigma Lithium Corporation (NASDAQ:SGML) saw unusually-strong trading volume on Friday . Approximately 5,975,607 shares traded hands during trading, an increase of 14% from the previous session’s volume of 5,229,750 shares.The stock last traded at $12.6990 and had previously closed at $14.25.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $18.00 price objective on shares of Sigma Lithium in a research note on Wednesday. Canaccord Genuity Group lowered shares of Sigma Lithium from a “buy” rating to a “hold” rating and upped their price target for the company from $14.00 to $20.50 in a research report on Friday. Bank of America reiterated an “underperform” rating and issued a $13.00 price objective (up previously from $11.00) on shares of Sigma Lithium in a report on Thursday, January 8th. Weiss Ratings restated a “sell (e+)” rating on shares of Sigma Lithium in a report on Monday, December 29th. Finally, Zacks Research upgraded Sigma Lithium from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 25th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of $17.17.

Sigma Lithium Stock Performance

The company’s 50-day moving average price is $11.49 and its 200 day moving average price is $8.00. The stock has a market capitalization of $1.37 billion and a PE ratio of -39.58. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.32 and a current ratio of 0.49.

Sigma Lithium (NASDAQ:SGML) last released its quarterly earnings results on Friday, November 14th. The company reported ($0.10) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.10). Sigma Lithium had a negative net margin of 24.13% and a negative return on equity of 35.97%. The company had revenue of $28.55 million during the quarter, compared to the consensus estimate of $70.54 million. On average, equities research analysts expect that Sigma Lithium Corporation will post -0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sigma Lithium

Several hedge funds have recently made changes to their positions in the company. BTG Pactual Asset Management US LLC purchased a new position in Sigma Lithium during the third quarter valued at $71,000. Malaga Cove Capital LLC bought a new position in shares of Sigma Lithium in the 2nd quarter worth about $52,000. Quantbot Technologies LP purchased a new position in Sigma Lithium during the 3rd quarter valued at about $82,000. ProShare Advisors LLC purchased a new position in Sigma Lithium during the 3rd quarter valued at about $90,000. Finally, Banque Cantonale Vaudoise boosted its stake in Sigma Lithium by 7,339.9% during the third quarter. Banque Cantonale Vaudoise now owns 15,103 shares of the company’s stock worth $97,000 after acquiring an additional 14,900 shares in the last quarter. 64.86% of the stock is currently owned by institutional investors.

Sigma Lithium Company Profile

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.