Credit Industriel ET Commercial Increases Stake in Sigma Lithium Corporation $SGML

Credit Industriel ET Commercial grew its position in Sigma Lithium Corporation (NASDAQ:SGML) by 177.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 250,000 shares of the company’s stock after acquiring an additional 160,000 shares during the period. Credit Industriel ET Commercial owned about 0.22% of Sigma Lithium worth $1,125,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas purchased a new stake in shares of Sigma Lithium in the first quarter valued at about $109,000. Malaga Cove Capital LLC acquired a new position in shares of Sigma Lithium during the 2nd quarter worth approximately $52,000. Levin Capital Strategies L.P. raised its position in shares of Sigma Lithium by 125.0% during the 2nd quarter. Levin Capital Strategies L.P. now owns 22,500 shares of the company’s stock worth $101,000 after purchasing an additional 12,500 shares during the last quarter. Ascent Group LLC purchased a new stake in Sigma Lithium in the 1st quarter valued at approximately $264,000. Finally, Aberdeen Group plc acquired a new stake in Sigma Lithium during the 2nd quarter valued at $187,000. 64.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Sigma Lithium Trading Up 4.9%

Shares of SGML opened at $5.32 on Friday. Sigma Lithium Corporation has a twelve month low of $4.25 and a twelve month high of $14.77. The firm has a market capitalization of $592.56 million, a P/E ratio of -12.09 and a beta of 0.08. The company has a current ratio of 0.60, a quick ratio of 0.39 and a debt-to-equity ratio of 1.26. The stock’s fifty day simple moving average is $6.24 and its 200 day simple moving average is $6.10.

Sigma Lithium (NASDAQ:SGML) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.14). The firm 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%. On average, equities research analysts forecast that Sigma Lithium Corporation will post -0.12 earnings per share for the current year.

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.