Sigma Lithium (NASDAQ:SGML) Shares Gap Up – What’s Next?

Sigma Lithium Corporation (NASDAQ:SGML)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $5.84, but opened at $6.05. Sigma Lithium shares last traded at $6.1840, with a volume of 1,732,487 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have issued reports on SGML. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sigma Lithium in a report on Wednesday, October 8th. 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 research report on Friday, October 24th. Zacks Research cut Sigma Lithium from a “hold” rating to a “strong sell” rating in a research report on Monday, October 27th. Wall Street Zen lowered Sigma Lithium from a “hold” rating to a “sell” rating in a report 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 research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell” and an average price target of $7.00.

Sigma Lithium Stock Up 4.8%

The firm has a 50-day moving average of $6.22 and a two-hundred day moving average of $6.04. The company has a quick ratio of 0.39, a current ratio of 0.60 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $681.87 million, a PE ratio of -13.79 and a beta of 0.08.

Sigma Lithium (NASDAQ:SGML) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 47.19% and a negative net margin of 35.69%. Equities research analysts predict that Sigma Lithium Corporation will post -0.12 earnings per share for the current fiscal year.

Institutional Trading of Sigma Lithium

Several institutional investors have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas purchased a new position in shares of Sigma Lithium during the first quarter worth $109,000. CenterBook Partners LP boosted its holdings in 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 acquiring an additional 4,530 shares during the period. Nuveen LLC acquired a new position in Sigma Lithium in the 1st quarter valued at about $550,000. American Century Companies Inc. increased its stake in Sigma Lithium by 133.1% during the first 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. Finally, Maven Securities LTD lifted its position in shares of Sigma Lithium by 185.9% during the first quarter. Maven Securities LTD now owns 42,891 shares of the company’s stock worth $446,000 after purchasing an additional 27,891 shares in the last quarter. Institutional investors and hedge funds 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.