Sigma Lithium (NASDAQ:SGML) Stock Price Up 8.5% – What’s Next?

Sigma Lithium Corporation (NASDAQ:SGML) shares were up 8.5% during trading on Tuesday . The stock traded as high as $12.96 and last traded at $13.3170. Approximately 1,383,259 shares were traded during trading, a decline of 75% from the average daily volume of 5,557,320 shares. The stock had previously closed at $12.27.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Bank of America restated an “underperform” rating and set a $13.00 price objective (up previously from $11.00) on shares of Sigma Lithium in a report on Thursday, January 8th. Citigroup lowered shares of Sigma Lithium from an “overweight” rating to an “underperform” rating in a research note on Thursday, January 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sigma Lithium in a report on Monday, December 29th. BMO Capital Markets reissued an “outperform” rating and set a $18.00 price objective on shares of Sigma Lithium in a report on Wednesday, January 14th. Finally, Zacks Research upgraded Sigma Lithium from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 25th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $17.17.

Sigma Lithium Price Performance

The company has a current ratio of 0.49, a quick ratio of 0.32 and a debt-to-equity ratio of 1.38. The firm’s fifty day moving average price is $11.62 and its 200 day moving average price is $8.07. The firm has a market capitalization of $1.50 billion and a PE ratio of -43.45.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SGML. Goldman Sachs Group Inc. boosted its position in Sigma Lithium by 9.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 113,299 shares of the company’s stock worth $1,178,000 after purchasing an additional 9,748 shares in the last quarter. Aberdeen Group plc acquired a new position in shares of Sigma Lithium in the 2nd quarter valued at $187,000. Credit Industriel ET Commercial boosted its holdings in Sigma Lithium by 177.8% during the second quarter. Credit Industriel ET Commercial now owns 250,000 shares of the company’s stock worth $1,125,000 after buying an additional 160,000 shares in the last quarter. Levin Capital Strategies L.P. grew its position in Sigma Lithium by 125.0% during the second quarter. Levin Capital Strategies L.P. now owns 22,500 shares of the company’s stock valued at $101,000 after buying an additional 12,500 shares during the period. Finally, Malaga Cove Capital LLC purchased a new position in Sigma Lithium in the second quarter valued at $52,000. 64.86% of the stock is owned by institutional investors and hedge funds.

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.