Sigma Lithium (NASDAQ:SGML) Stock Price Up 6.7% – Here’s Why

Shares of Sigma Lithium Co. (NASDAQ:SGML) shot up 6.7% during mid-day trading on Monday . The stock traded as high as $5.53 and last traded at $5.57. 169,519 shares changed hands during trading, a decline of 79% from the average session volume of 823,020 shares. The stock had previously closed at $5.22.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Sigma Lithium from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd.

Sigma Lithium Stock Performance

The stock has a 50-day moving average of $6.93 and a 200 day moving average of $10.00. The firm has a market capitalization of $632.08 million, a P/E ratio of -11.83 and a beta of 0.07. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.72 and a current ratio of 0.84.

Sigma Lithium (NASDAQ:SGML) last announced its earnings results 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 return on equity of 38.04% and a negative net margin of 36.85%. The business had revenue of $46.70 million for the quarter, compared to the consensus estimate of $71.77 million. On average, research analysts anticipate that Sigma Lithium Co. will post -0.12 earnings per share for the current year.

Institutional Investors Weigh In On Sigma Lithium

Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC bought a new position in shares of Sigma Lithium in the first quarter worth about $139,000. Alliancebernstein L.P. increased its holdings in shares of Sigma Lithium by 10.9% in the fourth quarter. Alliancebernstein L.P. now owns 17,390 shares of the company’s stock valued at $195,000 after purchasing an additional 1,710 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of Sigma Lithium in the fourth quarter valued at approximately $27,000. CenterBook Partners LP raised its position in Sigma Lithium by 3.0% in the 1st quarter. CenterBook Partners LP now owns 157,982 shares of the company’s stock worth $1,643,000 after purchasing an additional 4,530 shares during the last quarter. Finally, U S Global Investors Inc. lifted its holdings in Sigma Lithium by 233.3% during the 4th quarter. U S Global Investors Inc. now owns 10,000 shares of the company’s stock worth $112,000 after buying an additional 7,000 shares in the last quarter. Institutional investors own 64.86% of the company’s stock.

About Sigma Lithium

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.