Traders Buy Large Volume of Call Options on Sigma Lithium (NASDAQ:SGML)

Sigma Lithium Corporation (NASDAQ:SGML) was the recipient of unusually large options trading activity on Tuesday. Investors purchased 13,611 call options on the company. This is an increase of 135% compared to the average volume of 5,783 call options.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SGML. Bank of America cut shares of Sigma Lithium from a “buy” rating to a “neutral” rating and set a $7.00 target price on the stock. in a research note on Friday, October 24th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sigma Lithium in a research report on Tuesday, December 2nd. Zacks Research upgraded Sigma Lithium from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 25th. Wall Street Zen cut Sigma Lithium from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Finally, Cormark raised Sigma Lithium to a “moderate buy” rating in a research note on Thursday, August 21st. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Sigma Lithium has an average rating of “Reduce” and an average target price of $7.00.

Institutional Trading of Sigma Lithium

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nuveen LLC purchased a new stake in shares of Sigma Lithium in the 1st quarter worth about $550,000. American Century Companies Inc. boosted its position in 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 acquiring an additional 48,381 shares in the last quarter. Maven Securities LTD boosted its position in shares of Sigma Lithium by 185.9% during the first quarter. Maven Securities LTD now owns 42,891 shares of the company’s stock valued at $446,000 after purchasing an additional 27,891 shares in the last quarter. Caption Management LLC lifted its position in Sigma Lithium by 116.0% during the first quarter. Caption Management LLC now owns 58,104 shares of the company’s stock valued at $604,000 after buying an additional 422,100 shares during the period. Finally, Decade Renewable Partners LP grew its holdings 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 purchasing an additional 20,760 shares during the period. Hedge funds and other institutional investors own 64.86% of the company’s stock.

Sigma Lithium Trading Up 14.0%

Sigma Lithium stock traded up $1.48 during trading hours on Tuesday, reaching $12.05. The stock had a trading volume of 3,762,909 shares, compared to its average volume of 2,729,091. The company has a fifty day simple moving average of $7.44 and a 200-day simple moving average of $6.33. Sigma Lithium has a 52 week low of $4.25 and a 52 week high of $13.40. The stock has a market cap of $1.34 billion, a PE ratio of -38.89 and a beta of 0.01. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.49 and a quick ratio of 0.32.

Sigma Lithium (NASDAQ:SGML) last posted its earnings results on Friday, November 14th. The company reported ($0.10) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.10). The company had revenue of $28.55 million for the quarter, compared to analysts’ expectations of $70.54 million. Sigma Lithium had a negative return on equity of 35.97% and a negative net margin of 24.13%. Analysts forecast that Sigma Lithium will post -0.12 EPS for the current fiscal year.

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.