Sigma Lithium Target of Unusually High Options Trading (NASDAQ:SGML)

Sigma Lithium Corporation (NASDAQ:SGML) saw unusually large options trading activity on Friday. Stock investors acquired 8,190 call options on the company. This is an increase of 68% compared to the average daily volume of 4,865 call options.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SGML shares. Wall Street Zen raised Sigma Lithium from a “hold” rating to a “buy” rating in a report on Sunday, June 21st. Bank of America upgraded Sigma Lithium from a “neutral” rating to a “buy” rating and lifted their price target for the company from $14.00 to $17.00 in a research report on Thursday, April 2nd. Weiss Ratings reissued a “sell (e+)” rating on shares of Sigma Lithium in a research note on Wednesday, June 24th. Finally, Zacks Research raised Sigma Lithium from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, Sigma Lithium presently has a consensus rating of “Moderate Buy” and an average target price of $18.50.

Sigma Lithium Stock Up 2.7%

Shares of NASDAQ SGML traded up $0.32 during mid-day trading on Friday, reaching $12.13. The company had a trading volume of 799,223 shares, compared to its average volume of 3,742,015. Sigma Lithium has a twelve month low of $4.61 and a twelve month high of $24.48. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.25 and a current ratio of 0.32. The stock has a market capitalization of $1.36 billion, a PE ratio of -31.08 and a beta of 0.58. The stock’s 50 day moving average is $15.47 and its 200-day moving average is $14.46.

Sigma Lithium (NASDAQ:SGML) last issued its quarterly earnings data on Friday, May 15th. The company reported $0.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.10. The business had revenue of $16.90 million for the quarter, compared to the consensus estimate of $42.48 million. Sigma Lithium had a negative return on equity of 57.50% and a negative net margin of 41.84%. As a group, equities analysts anticipate that Sigma Lithium will post 1.15 earnings per share for the current fiscal year.

Institutional Trading of Sigma Lithium

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SGML. Farther Finance Advisors LLC acquired a new stake in shares of Sigma Lithium in the fourth quarter worth $51,000. GF Fund Management CO. LTD. acquired a new position in Sigma Lithium during the 4th quarter valued at $57,000. BTG Pactual Asset Management US LLC acquired a new position in Sigma Lithium during the 3rd quarter valued at $71,000. Quantbot Technologies LP bought a new stake in Sigma Lithium in the 3rd quarter valued at $82,000. Finally, Nebula Research & Development LLC bought a new stake in Sigma Lithium in the 2nd quarter valued at $87,000. Institutional investors and hedge funds own 64.86% of the company’s stock.

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.