Sigma Lithium (NASDAQ:SGML) Sees Strong Trading Volume – What’s Next?

Shares of Sigma Lithium Corporation (NASDAQ:SGML) saw an uptick in trading volume on Monday . 2,230,320 shares were traded during trading, an increase of 13% from the previous session’s volume of 1,976,577 shares.The stock last traded at $5.8420 and had previously closed at $6.49.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SGML. Cormark raised Sigma Lithium to a “moderate buy” rating in a report on Thursday, August 21st. Wall Street Zen downgraded Sigma Lithium from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Zacks Research downgraded Sigma Lithium from a “hold” rating to a “strong sell” rating in a report on Monday, October 27th. Bank of America downgraded Sigma Lithium from a “buy” rating to a “neutral” rating and set a $7.00 target price on the stock. in a report on Friday, October 24th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Sigma Lithium in a report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Sell” and a consensus price target of $7.00.

Sigma Lithium Stock Performance

The company has a debt-to-equity ratio of 1.26, a current ratio of 0.60 and a quick ratio of 0.39. The business has a 50-day simple moving average of $6.37 and a 200 day simple moving average of $6.16. The firm has a market cap of $546.32 million, a PE ratio of -11.44 and a beta of 0.08.

Sigma Lithium (NASDAQ:SGML) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.14). The company had revenue of $16.89 million during the quarter, compared to analysts’ expectations of $50.44 million. Sigma Lithium had a negative return on equity of 47.19% and a negative net margin of 35.69%. Equities research analysts forecast that Sigma Lithium Corporation will post -0.12 EPS for the current year.

Institutional Trading of Sigma Lithium

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets increased its position in Sigma Lithium by 15.9% in the second quarter. BNP Paribas Financial Markets now owns 21,897 shares of the company’s stock worth $99,000 after buying an additional 3,005 shares in the last quarter. CenterBook Partners LP grew its position in shares of Sigma Lithium by 3.0% during the first 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 in the last quarter. Electron Capital Partners LLC grew its position in shares of Sigma Lithium by 0.4% during the second quarter. Electron Capital Partners LLC now owns 1,067,947 shares of the company’s stock worth $4,806,000 after purchasing an additional 4,557 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Sigma Lithium by 9.4% during the first 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. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Sigma Lithium during the first quarter worth about $109,000. 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.