Traders Purchase High Volume of Put Options on Sigma Lithium (NASDAQ:SGML)

Sigma Lithium Corporation (NASDAQ:SGML) saw some unusual options trading on Thursday. Stock traders acquired 12,205 put options on the stock. This represents an increase of 105% compared to the typical daily volume of 5,956 put options.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets lifted its holdings in Sigma Lithium by 15.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 21,897 shares of the company’s stock worth $99,000 after buying an additional 3,005 shares in the last quarter. Virtu Financial LLC raised its position in shares of Sigma Lithium by 26.6% during the third quarter. Virtu Financial LLC now owns 20,053 shares of the company’s stock worth $129,000 after acquiring an additional 4,210 shares during the last quarter. Electron Capital Partners LLC raised its position in shares of Sigma Lithium by 0.4% during the second quarter. Electron Capital Partners LLC now owns 1,067,947 shares of the company’s stock worth $4,806,000 after acquiring an additional 4,557 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Sigma Lithium by 6.4% during the third quarter. Millennium Management LLC now owns 81,543 shares of the company’s stock valued at $520,000 after acquiring an additional 4,909 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of 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 acquiring an additional 7,157 shares during the period. Institutional investors own 64.86% of the company’s stock.

Analysts Set New Price Targets

SGML has been the topic of several recent analyst reports. Wall Street Zen lowered Sigma Lithium from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Sigma Lithium in a research note on Monday. Bank of America cut shares of Sigma Lithium from a “buy” rating to a “neutral” rating and set a $7.00 target price for the company. in a research report on Friday, October 24th. Zacks Research upgraded shares of Sigma Lithium from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 25th. Finally, Cormark raised shares of Sigma Lithium to a “moderate buy” rating in a research note 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 data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $7.00.

Sigma Lithium Price Performance

Shares of Sigma Lithium stock traded down $0.77 during trading on Thursday, reaching $10.79. The company’s stock had a trading volume of 1,275,248 shares, compared to its average volume of 2,737,716. The stock has a 50-day moving average price of $7.65 and a two-hundred day moving average price of $6.41. The stock has a market capitalization of $1.20 billion, a P/E ratio of -35.18 and a beta of 0.02. The company has a current ratio of 0.49, a quick ratio of 0.32 and a debt-to-equity ratio of 1.38. Sigma Lithium has a one year low of $4.25 and a one year high of $13.40.

Sigma Lithium (NASDAQ:SGML) last posted its quarterly earnings data on Friday, November 14th. The company reported ($0.10) earnings per share for the quarter, meeting the consensus estimate of ($0.10). Sigma Lithium had a negative net margin of 24.13% and a negative return on equity of 35.97%. The firm had revenue of $28.55 million during the quarter, compared to analysts’ expectations of $70.54 million. As a group, sell-side analysts anticipate 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.