Sigma Lithium (NASDAQ:SGML) Announces Earnings Results, Misses Estimates By $0.02 EPS

Sigma Lithium (NASDAQ:SGML) issued its quarterly earnings data on Friday. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02), Zacks reports. Sigma Lithium had a negative net margin of 35.69% and a negative return on equity of 47.19%.

Sigma Lithium Price Performance

Shares of SGML traded up $0.16 during mid-day trading on Friday, reaching $6.06. The company had a trading volume of 8,293,776 shares, compared to its average volume of 4,939,088. The company has a market capitalization of $674.96 million, a P/E ratio of -13.77 and a beta of 0.08. 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 company’s 50-day moving average is $6.21 and its 200-day moving average is $6.03. Sigma Lithium has a twelve month low of $4.25 and a twelve month high of $14.71.

Analysts Set New Price Targets

Several research firms have recently commented on SGML. Bank of America lowered shares of Sigma Lithium from a “buy” rating to a “neutral” rating and set a $7.00 price target for the company. in a report on Friday, October 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Sigma Lithium in a report on Wednesday, October 8th. Cormark raised shares of Sigma Lithium to a “moderate buy” rating in a report on Thursday, August 21st. Zacks Research cut Sigma Lithium from a “hold” rating to a “strong sell” rating in a research report on Monday, October 27th. Finally, Wall Street Zen cut shares of Sigma Lithium from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Sigma Lithium has a consensus rating of “Sell” and a consensus target price of $7.00.

Hedge Funds Weigh In On Sigma Lithium

A number of institutional investors have recently modified their holdings of the stock. Two Sigma Investments LP bought a new stake in shares of Sigma Lithium during the 3rd quarter worth approximately $785,000. Electron Capital Partners LLC raised its holdings in shares of Sigma Lithium by 4.2% during the 3rd quarter. Electron Capital Partners LLC now owns 1,112,845 shares of the company’s stock worth $7,133,000 after buying an additional 44,898 shares in the last quarter. Virtu Financial LLC lifted its position in shares of Sigma Lithium by 26.6% during the 3rd quarter. Virtu Financial LLC now owns 20,053 shares of the company’s stock worth $129,000 after buying an additional 4,210 shares during the last quarter. Squarepoint Ops LLC raised its holdings in Sigma Lithium by 886.3% in the 3rd quarter. Squarepoint Ops LLC now owns 101,967 shares of the company’s stock valued at $654,000 after buying an additional 91,629 shares during the last quarter. Finally, Eisler Capital Management Ltd. acquired a new stake in shares of Sigma Lithium during the third quarter worth $411,000. 64.86% of the stock is owned by institutional investors.

Sigma Lithium Company 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.