Sigma Lithium (NASDAQ:SGML) Trading Up 8.6% – Should You Buy?

Sigma Lithium Corporation (NASDAQ:SGML)’s share price was up 8.6% during trading on Thursday . The company traded as high as $11.50 and last traded at $11.6010. Approximately 2,375,677 shares were traded during trading, a decline of 14% from the average daily volume of 2,765,880 shares. The stock had previously closed at $10.68.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Zacks Research upgraded Sigma Lithium from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 25th. Weiss Ratings reissued a “sell (e+)” rating on shares of Sigma Lithium in a research report on Monday. Bank of America cut shares of Sigma Lithium from a “buy” rating to a “neutral” rating and set a $7.00 price objective for the company. in a research report on Friday, October 24th. Finally, Cormark upgraded shares of Sigma Lithium to a “moderate buy” rating in a report on Thursday, August 21st. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $7.00.

Sigma Lithium Price Performance

The company has a debt-to-equity ratio of 1.38, a current ratio of 0.49 and a quick ratio of 0.32. The company has a market capitalization of $1.29 billion, a PE ratio of -37.45 and a beta of 0.02. The stock’s 50 day simple moving average is $8.00 and its 200-day simple moving average is $6.60.

Sigma Lithium (NASDAQ:SGML) last posted its quarterly earnings data on Friday, November 14th. The company reported ($0.10) EPS for the quarter, meeting 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 business had revenue of $28.55 million during the quarter, compared to analyst estimates of $70.54 million. As a group, equities analysts forecast that Sigma Lithium Corporation will post -0.12 earnings per share for the current fiscal year.

Institutional Trading of Sigma Lithium

A number of large investors have recently modified their holdings of SGML. Malaga Cove Capital LLC purchased a new position in Sigma Lithium in the second quarter valued at $52,000. BTG Pactual Asset Management US LLC acquired a new stake in Sigma Lithium in the 3rd quarter valued at about $71,000. Quantbot Technologies LP purchased a new position in shares of Sigma Lithium in the 3rd quarter valued at about $82,000. Hunting Hill Global Capital LLC acquired a new position in shares of Sigma Lithium during the second quarter worth about $86,000. Finally, Nebula Research & Development LLC purchased a new stake in shares of Sigma Lithium during the second quarter worth approximately $87,000. Hedge funds and other 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.