Sigma Lithium (NASDAQ:SGML) Sees Strong Trading Volume – What’s Next?

Shares of Sigma Lithium Corporation (NASDAQ:SGML) saw unusually-high trading volume on Friday . Approximately 1,618,639 shares traded hands during mid-day trading, a decline of 42% from the previous session’s volume of 2,798,856 shares.The stock last traded at $14.1370 and had previously closed at $13.51.

Wall Street Analyst Weigh In

SGML has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sigma Lithium in a research report on Monday. Zacks Research raised shares of Sigma Lithium from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 25th. Finally, 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. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Sigma Lithium currently has a consensus rating of “Reduce” and an average target price of $7.00.

Sigma Lithium Trading Up 7.6%

The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of -46.10 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. The business’s 50 day moving average price is $8.75 and its two-hundred day moving average price is $6.92.

Sigma Lithium (NASDAQ:SGML) last issued its quarterly earnings data on Friday, November 14th. The company reported ($0.10) EPS 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 business had revenue of $28.55 million during the quarter, compared to the consensus estimate of $70.54 million. On average, equities analysts predict that Sigma Lithium Corporation will post -0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sigma Lithium

A number of institutional investors have recently added to or reduced their stakes in SGML. Waratah Capital Advisors Ltd. lifted its stake in Sigma Lithium by 93.0% in the second quarter. Waratah Capital Advisors Ltd. now owns 227,330 shares of the company’s stock valued at $1,023,000 after purchasing an additional 109,530 shares during the last quarter. CenterBook Partners LP lifted its position in shares of Sigma Lithium by 416.8% during the 2nd quarter. CenterBook Partners LP now owns 816,515 shares of the company’s stock valued at $3,674,000 after buying an additional 658,533 shares during the last quarter. Amundi bought a new position in shares of Sigma Lithium during the 1st quarter worth $2,478,000. Aberdeen Group plc purchased a new stake in Sigma Lithium in the 2nd quarter worth about $187,000. Finally, Woodline Partners LP raised its stake in 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 acquiring an additional 1,060,771 shares during the period. 64.86% of the stock is owned by institutional investors.

About Sigma Lithium

Sigma Lithium Corp. is a Canada-based mineral exploration and development company focused on the sustainable production of battery-grade lithium from hard rock deposits. The company’s flagship asset is the Grota do Cirilo lithium project, located in the state of Minas Gerais, Brazil. Grota do Cirilo comprises a fully permitted, low-altitude spodumene mine and processing plant designed to produce high-purity lithium concentrate and downstream lithium hydroxide for the global electric vehicle and energy storage markets.

Since its founding in 2018, Sigma Lithium has pursued a vertically integrated approach, overseeing each stage of production from ore extraction and beneficiation to chemical conversion.