Sigma Lithium (NASDAQ:SGML) Trading 6.8% Higher – Time to Buy?

Sigma Lithium Corporation (NASDAQ:SGML)’s share price shot up 6.8% during trading on Monday . The stock traded as high as $11.06 and last traded at $10.07. 1,587,289 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 2,701,677 shares. The stock had previously closed at $9.43.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sigma Lithium in a report on Tuesday, December 2nd. Zacks Research upgraded shares of Sigma Lithium from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 25th. Wall Street Zen cut shares of Sigma Lithium from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Cormark upgraded Sigma Lithium to a “moderate buy” rating in a research note on Thursday, August 21st. Finally, Bank of America downgraded shares of Sigma Lithium from a “buy” rating to a “neutral” rating and set a $7.00 price objective for the company. in a report on Friday, October 24th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $7.00.

Sigma Lithium Stock Performance

The firm has a market capitalization of $1.15 billion, a PE ratio of -33.48 and a beta of 0.02. The company has a quick ratio of 0.32, a current ratio of 0.49 and a debt-to-equity ratio of 1.38. The company has a 50-day moving average of $7.37 and a 200 day moving average of $6.30.

Sigma Lithium (NASDAQ:SGML) last posted its quarterly earnings results on Friday, November 14th. The company reported ($0.10) EPS for the quarter, hitting the consensus estimate of ($0.10). Sigma Lithium had a negative net margin of 24.13% and a negative return on equity of 35.97%. The firm had revenue of $28.55 million for the quarter, compared to the consensus estimate of $70.54 million. Equities research analysts predict that Sigma Lithium Corporation will post -0.12 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SGML. Nuveen LLC purchased a new position in shares of Sigma Lithium during the first quarter valued at $550,000. American Century Companies Inc. increased its position in Sigma Lithium by 133.1% during the 1st quarter. American Century Companies Inc. now owns 84,723 shares of the company’s stock valued at $881,000 after purchasing an additional 48,381 shares during the period. Maven Securities LTD increased its holdings in Sigma Lithium by 185.9% during the first quarter. Maven Securities LTD now owns 42,891 shares of the company’s stock valued at $446,000 after buying an additional 27,891 shares during the period. Caption Management LLC lifted its holdings in Sigma Lithium by 116.0% during the first quarter. Caption Management LLC now owns 58,104 shares of the company’s stock worth $604,000 after buying an additional 422,100 shares during the period. Finally, Decade Renewable Partners LP lifted its holdings in Sigma Lithium by 2.4% during the first quarter. Decade Renewable Partners LP now owns 882,621 shares of the company’s stock worth $9,179,000 after buying an additional 20,760 shares during the period. 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.