Sigma Lithium (NASDAQ:SGML) Sees Unusually-High Trading Volume – Here’s What Happened

Sigma Lithium Corporation (NASDAQ:SGML) saw strong trading volume on Thursday . 6,448,697 shares changed hands during mid-day trading, an increase of 154% from the previous session’s volume of 2,536,730 shares.The stock last traded at $10.4020 and had previously closed at $10.36.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sigma Lithium in a research note on Wednesday, October 8th. Zacks Research lowered Sigma Lithium from a “hold” rating to a “strong sell” rating in a report on Monday, October 27th. Wall Street Zen cut Sigma Lithium from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Bank of America cut 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. Finally, Cormark upgraded Sigma Lithium to a “moderate buy” rating in a research note on Thursday, August 21st. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Sell” and an average target price of $7.00.

Sigma Lithium Trading Down 6.8%

The company has a quick ratio of 0.39, a current ratio of 0.49 and a debt-to-equity ratio of 1.38. The business’s fifty day moving average is $6.38 and its 200 day moving average is $6.02. The stock has a market cap of $1.08 billion, a PE ratio of -31.34 and a beta of 0.08.

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

Hedge Funds Weigh In On Sigma Lithium

Several hedge funds and other institutional investors have recently bought and sold shares of SGML. BNP Paribas Financial Markets grew its holdings in Sigma Lithium by 15.9% in the second quarter. BNP Paribas Financial Markets now owns 21,897 shares of the company’s stock valued at $99,000 after purchasing an additional 3,005 shares during the last quarter. Virtu Financial LLC raised its stake 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. Electron Capital Partners LLC boosted its position in shares of Sigma Lithium by 0.4% in the 2nd quarter. Electron Capital Partners LLC now owns 1,067,947 shares of the company’s stock worth $4,806,000 after buying an additional 4,557 shares in the last quarter. Millennium Management LLC grew its stake in Sigma Lithium by 6.4% in the 3rd quarter. Millennium Management LLC now owns 81,543 shares of the company’s stock valued at $520,000 after acquiring an additional 4,909 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in Sigma Lithium by 0.5% during the 3rd quarter. Legal & General Group Plc now owns 1,312,232 shares of the company’s stock valued at $8,416,000 after acquiring an additional 7,157 shares in the last quarter. 64.86% of the stock is owned by institutional investors and hedge funds.

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.