Sigma Lithium (NASDAQ:SGML) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Sigma Lithium (NASDAQ:SGML) posted its quarterly earnings results on Friday. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02), Zacks reports. Sigma Lithium had a negative return on equity of 47.19% and a negative net margin of 35.69%.

Sigma Lithium Stock Performance

SGML stock traded up $0.16 during midday trading on Friday, reaching $6.06. 8,293,776 shares of the company’s stock traded hands, compared to its average volume of 4,939,088. The company has a 50-day moving average price of $6.21 and a two-hundred day moving average price of $6.03. The firm has a market capitalization of $674.96 million, a PE ratio of -13.77 and a beta of 0.08. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.39 and a current ratio of 0.60. Sigma Lithium has a 52 week low of $4.25 and a 52 week high of $14.71.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Cormark upgraded shares of Sigma Lithium to a “moderate buy” rating in a research report on Thursday, August 21st. Wall Street Zen downgraded shares of 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 research note on Friday, October 24th. Zacks Research lowered shares of Sigma Lithium from a “hold” rating to a “strong sell” rating in a report on Monday, October 27th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Sigma Lithium in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Sell” and an average price target of $7.00.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SGML. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Sigma Lithium by 24.9% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,550,713 shares of the company’s stock valued at $7,091,000 after purchasing an additional 309,338 shares in the last quarter. Legal & General Group Plc boosted its stake in Sigma Lithium by 0.5% during the third quarter. Legal & General Group Plc now owns 1,312,232 shares of the company’s stock valued at $8,416,000 after buying an additional 7,157 shares during the period. Invesco Ltd. grew its position in Sigma Lithium by 42.3% during the third quarter. Invesco Ltd. now owns 1,280,443 shares of the company’s stock worth $8,208,000 after buying an additional 380,498 shares in the last quarter. Electron Capital Partners LLC increased its stake in Sigma Lithium by 4.2% in the 3rd quarter. Electron Capital Partners LLC now owns 1,112,845 shares of the company’s stock worth $7,133,000 after acquiring an additional 44,898 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Sigma Lithium by 67.6% in the 2nd quarter. Bank of America Corp DE now owns 1,041,043 shares of the company’s stock valued at $4,685,000 after acquiring an additional 419,740 shares in the last quarter. 64.86% of the stock is owned by institutional investors.

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.