Malaga Cove Capital LLC Takes $52,000 Position in Sigma Lithium Corporation $SGML

Malaga Cove Capital LLC bought a new position in shares of Sigma Lithium Corporation (NASDAQ:SGML) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 11,600 shares of the company’s stock, valued at approximately $52,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Teacher Retirement System of Texas purchased a new stake in Sigma Lithium during the first quarter valued at about $109,000. Alps Advisors Inc. lifted its holdings in shares of Sigma Lithium by 66.4% in the 1st quarter. Alps Advisors Inc. now owns 105,066 shares of the company’s stock worth $1,093,000 after acquiring an additional 41,941 shares during the last quarter. CenterBook Partners LP grew its holdings in shares of Sigma Lithium by 3.0% during the 1st quarter. CenterBook Partners LP now owns 157,982 shares of the company’s stock valued at $1,643,000 after purchasing an additional 4,530 shares during the last quarter. Nuveen LLC bought a new position in shares of Sigma Lithium during the 1st quarter valued at $550,000. Finally, American Century Companies Inc. raised its position in Sigma Lithium by 133.1% in the 1st quarter. American Century Companies Inc. now owns 84,723 shares of the company’s stock worth $881,000 after purchasing an additional 48,381 shares during the period. Hedge funds and other institutional investors own 64.86% of the company’s stock.

Sigma Lithium Trading Up 4.9%

NASDAQ SGML opened at $5.32 on Friday. The stock has a market cap of $592.56 million, a P/E ratio of -12.09 and a beta of 0.08. Sigma Lithium Corporation has a fifty-two week low of $4.25 and a fifty-two week high of $14.77. The stock has a 50 day simple moving average of $6.24 and a two-hundred day simple moving average of $6.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.39 and a current ratio of 0.60.

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

Analyst Upgrades and Downgrades

SGML has been the topic of a number of recent research reports. Zacks Research cut Sigma Lithium from a “hold” rating to a “strong sell” rating in a research note on Monday, October 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Sigma Lithium in a research report on Wednesday, October 8th. Bank of America downgraded 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. Wall Street Zen lowered Sigma Lithium from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Finally, Cormark raised shares of Sigma Lithium to a “moderate buy” rating in a research note on Thursday, August 21st. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Sell” and a consensus price target of $7.00.

Sigma Lithium 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.