Sigma Lithium (NASDAQ:SGML) Trading 14.1% Higher – Should You Buy?

Sigma Lithium Corporation (NASDAQ:SGML) was up 14.1% during mid-day trading on Monday . The stock traded as high as $6.08 and last traded at $6.0690. Approximately 2,754,129 shares traded hands during trading, an increase of 32% from the average daily volume of 2,079,714 shares. The stock had previously closed at $5.32.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SGML. Wall Street Zen downgraded Sigma Lithium from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Zacks Research cut shares of Sigma Lithium from a “hold” rating to a “strong sell” rating in a research report on Monday, October 27th. Cormark upgraded shares of Sigma Lithium to a “moderate buy” rating in a report on Thursday, August 21st. Bank of America downgraded shares of 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, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sigma Lithium in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Sell” and a consensus price target of $7.00.

Sigma Lithium Stock Up 13.2%

The business has a 50-day simple moving average of $6.24 and a two-hundred day simple moving average of $6.08. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.39 and a current ratio of 0.60. The company has a market capitalization of $670.51 million, a price-to-earnings ratio of -13.68 and a beta of 0.08.

Sigma Lithium (NASDAQ:SGML) last released its earnings results on Thursday, August 14th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.14). The firm had revenue of $16.89 million during the quarter, compared to analyst estimates of $50.44 million. Sigma Lithium had a negative return on equity of 47.19% and a negative net margin of 35.69%. As a group, equities analysts predict 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 modified their holdings of the stock. Amundi acquired a new stake in shares of Sigma Lithium in the first quarter valued at about $2,478,000. Aberdeen Group plc acquired a new position in Sigma Lithium during the 2nd quarter worth approximately $187,000. Woodline Partners LP boosted its holdings in Sigma Lithium by 65.6% in the 1st quarter. Woodline Partners LP now owns 2,678,444 shares of the company’s stock worth $27,856,000 after acquiring an additional 1,060,771 shares during the period. Nuveen LLC acquired a new stake in Sigma Lithium in the first quarter valued at approximately $550,000. Finally, American Century Companies Inc. raised its stake in shares of Sigma Lithium by 133.1% during the first quarter. American Century Companies Inc. now owns 84,723 shares of the company’s stock valued at $881,000 after purchasing an additional 48,381 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.