Sigma Lithium (NASDAQ:SGML) Stock Price Down 6.5% – Here’s What Happened

Sigma Lithium Co. (NASDAQ:SGML) shares dropped 6.5% during mid-day trading on Tuesday . The company traded as low as $5.70 and last traded at $5.52. Approximately 112,428 shares were traded during trading, a decline of 86% from the average daily volume of 792,272 shares. The stock had previously closed at $5.90.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Sigma Lithium from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd.

Sigma Lithium Stock Performance

The company has a 50-day moving average price of $8.21 and a two-hundred day moving average price of $10.64. The company has a current ratio of 0.84, a quick ratio of 0.72 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $628.73 million, a P/E ratio of -11.76 and a beta of 0.30.

Sigma Lithium (NASDAQ:SGML) last released its earnings results on Monday, March 31st. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.14). Sigma Lithium had a negative return on equity of 38.04% and a negative net margin of 36.85%. The business had revenue of $46.70 million for the quarter, compared to analyst estimates of $71.77 million. On average, equities analysts forecast that Sigma Lithium Co. will post -0.12 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in Sigma Lithium in the fourth quarter worth $28,050,000. Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of Sigma Lithium by 203.6% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,183,675 shares of the company’s stock worth $24,501,000 after purchasing an additional 1,464,475 shares in the last quarter. Bamco Inc. NY acquired a new stake in shares of Sigma Lithium in the 4th quarter valued at about $13,539,000. Woodline Partners LP grew its stake in shares of Sigma Lithium by 65.6% in the 1st quarter. Woodline Partners LP now owns 2,678,444 shares of the company’s stock valued at $27,856,000 after buying an additional 1,060,771 shares during the period. Finally, Invesco Ltd. increased its position in Sigma Lithium by 171.3% in the 4th quarter. Invesco Ltd. now owns 1,088,992 shares of the company’s stock valued at $12,218,000 after buying an additional 687,639 shares in the last quarter. Institutional investors and hedge funds own 64.86% of the company’s stock.

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.