Sigma Lithium (NASDAQ:SGML) Stock Rating Upgraded by Zacks Research

Sigma Lithium (NASDAQ:SGML) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

SGML has been the subject of several other research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Sigma Lithium in a research report on Wednesday, October 8th. Cormark upgraded shares of 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. Finally, Bank of America downgraded shares of Sigma Lithium from a “buy” rating to a “neutral” rating and set a $7.00 price objective on the stock. in a research report on Friday, October 24th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $7.00.

Sigma Lithium Stock Up 7.8%

NASDAQ SGML opened at $10.61 on Tuesday. The stock has a 50 day moving average price of $6.80 and a 200-day moving average price of $6.11. Sigma Lithium has a one year low of $4.25 and a one year high of $14.00. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.32 and a current ratio of 0.49. The company has a market capitalization of $1.18 billion, a P/E ratio of -34.22 and a beta of 0.08.

Sigma Lithium (NASDAQ:SGML) last announced its earnings results on Friday, November 14th. The company reported ($0.10) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.10). The firm had revenue of $28.55 million for the quarter, compared to analysts’ expectations of $70.54 million. Sigma Lithium had a negative net margin of 24.13% and a negative return on equity of 35.97%. As a group, equities analysts predict that Sigma Lithium will post -0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SGML. Waratah Capital Advisors Ltd. increased its holdings in shares of Sigma Lithium by 93.0% in the second quarter. Waratah Capital Advisors Ltd. now owns 227,330 shares of the company’s stock valued at $1,023,000 after purchasing an additional 109,530 shares during the period. Amundi purchased a new stake in shares of Sigma Lithium in the first quarter valued at approximately $2,478,000. CenterBook Partners LP grew its holdings in Sigma Lithium by 416.8% during the second quarter. CenterBook Partners LP now owns 816,515 shares of the company’s stock worth $3,674,000 after acquiring an additional 658,533 shares during the period. Aberdeen Group plc acquired a new position in Sigma Lithium during the second quarter worth $187,000. Finally, Woodline Partners LP lifted its holdings in Sigma Lithium by 65.6% in the first quarter. Woodline Partners LP now owns 2,678,444 shares of the company’s stock valued at $27,856,000 after acquiring an additional 1,060,771 shares during the period. 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.