Sigma Lithium (NASDAQ:SGML) Shares Gap Down – Should You Sell?

Sigma Lithium Corporation (NASDAQ:SGML)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $12.77, but opened at $12.12. Sigma Lithium shares last traded at $12.6090, with a volume of 459,184 shares.

Analyst Ratings Changes

A number of research firms recently weighed in on SGML. Zacks Research downgraded shares of Sigma Lithium from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 19th. Wall Street Zen cut shares of Sigma Lithium from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings downgraded shares of Sigma Lithium from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, August 13th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $18.50.

Sigma Lithium Stock Performance

The stock has a market cap of $1.40 billion, a price-to-earnings ratio of -51.64 and a beta of 0.64. The company has a current ratio of 0.34, a quick ratio of 0.25 and a debt-to-equity ratio of 1.25. The stock’s 50-day simple moving average is $11.37 and its 200-day simple moving average is $13.84.

Sigma Lithium (NASDAQ:SGML) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.25). Sigma Lithium had a negative return on equity of 37.40% and a negative net margin of 19.36%.The firm had revenue of $54.70 million for the quarter, compared to analyst estimates of $68.34 million. Analysts forecast that Sigma Lithium Corporation will post 0.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sigma Lithium

Several institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC acquired a new position in shares of Sigma Lithium during the fourth quarter valued at about $51,000. BTG Pactual Asset Management US LLC acquired a new stake in shares of Sigma Lithium in the 3rd quarter valued at about $71,000. Quantbot Technologies LP acquired a new stake in shares of Sigma Lithium in the 3rd quarter valued at about $82,000. Nebula Research & Development LLC bought a new stake in Sigma Lithium in the 2nd quarter valued at about $87,000. Finally, Banque Cantonale Vaudoise increased its position in Sigma Lithium by 7,339.9% in the 3rd quarter. Banque Cantonale Vaudoise now owns 15,103 shares of the company’s stock valued at $97,000 after buying an additional 14,900 shares in the last quarter. 64.86% of the stock is owned by institutional investors and hedge funds.

Sigma Lithium Company Profile

Sigma Lithium Corp. is a Canada-based mineral exploration and development company focused on the sustainable production of battery-grade lithium from hard rock deposits. The company’s flagship asset is the Grota do Cirilo lithium project, located in the state of Minas Gerais, Brazil. Grota do Cirilo comprises a fully permitted, low-altitude spodumene mine and processing plant designed to produce high-purity lithium concentrate and downstream lithium hydroxide for the global electric vehicle and energy storage markets.

Since its founding in 2018, Sigma Lithium has pursued a vertically integrated approach, overseeing each stage of production from ore extraction and beneficiation to chemical conversion.