Sigma Lithium (NASDAQ:SGML) Stock Price Down 8.9% – Time to Sell?

Sigma Lithium Corporation (NASDAQ:SGML)’s share price was down 8.9% on Tuesday . The company traded as low as $10.35 and last traded at $10.5050. Approximately 951,666 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 2,683,396 shares. The stock had previously closed at $11.53.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SGML shares. Zacks Research upgraded Sigma Lithium from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 25th. Wall Street Zen lowered Sigma Lithium from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Sigma Lithium in a research note on Wednesday, November 26th. Bank of America lowered Sigma Lithium from a “buy” rating to a “neutral” rating and set a $7.00 price objective on the stock. in a report on Friday, October 24th. Finally, Cormark raised shares of Sigma Lithium to a “moderate buy” rating in a report on Thursday, August 21st. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $7.00.

Sigma Lithium Stock Performance

The company has a debt-to-equity ratio of 1.38, a current ratio of 0.49 and a quick ratio of 0.32. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -33.46 and a beta of 0.01. The firm has a fifty day moving average of $7.11 and a 200 day moving average of $6.18.

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

Institutional Investors Weigh In On Sigma Lithium

Hedge funds and other institutional investors have recently bought and sold shares of the company. Nuveen LLC acquired a new position in Sigma Lithium in the 1st quarter valued at about $550,000. American Century Companies Inc. raised its position in shares of Sigma Lithium by 133.1% during the 1st quarter. American Century Companies Inc. now owns 84,723 shares of the company’s stock valued at $881,000 after buying an additional 48,381 shares during the period. Maven Securities LTD lifted its holdings in Sigma Lithium by 185.9% in the first quarter. Maven Securities LTD now owns 42,891 shares of the company’s stock valued at $446,000 after acquiring an additional 27,891 shares during the last quarter. Caption Management LLC grew its position in Sigma Lithium by 116.0% in the first quarter. Caption Management LLC now owns 58,104 shares of the company’s stock worth $604,000 after acquiring an additional 422,100 shares during the period. Finally, Decade Renewable Partners LP grew its position in Sigma Lithium by 2.4% in the first quarter. Decade Renewable Partners LP now owns 882,621 shares of the company’s stock worth $9,179,000 after acquiring an additional 20,760 shares during the period. 64.86% of the stock is currently 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.