Sigma Lithium (NASDAQ:SGML) Sees Unusually-High Trading Volume – Here’s Why

Sigma Lithium Corporation (NASDAQ:SGML) saw strong trading volume on Tuesday. Approximately 3,850,221 shares changed hands during trading, an increase of 23% from the average daily volume of 3,123,741 shares. The stock last traded at $5.5480 and had previously closed at $5.21.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SGML shares. Wall Street Zen downgraded Sigma Lithium from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. BMO Capital Markets lowered Sigma Lithium from an “outperform” rating to a “market perform” rating and set a $10.00 price objective for the company. in a research note on Thursday, October 1st. JPMorgan Chase & Co. cut shares of Sigma Lithium from an “overweight” rating to a “neutral” rating and set a $11.00 price target on the stock. in a research note on Friday, October 2nd. ATB Cormark Capital Markets raised shares of Sigma Lithium from a “hold” rating to a “moderate buy” rating in a report on Thursday, October 15th. Finally, Zacks Research downgraded Sigma Lithium from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 19th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $14.30.

Sigma Lithium Stock Down 4.8%

The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.25 and a current ratio of 0.34. The company has a fifty day simple moving average of $9.41 and a two-hundred day simple moving average of $12.65. The firm has a market capitalization of $602.89 million, a PE ratio of -22.29 and a beta of 0.74.

Sigma Lithium (NASDAQ:SGML) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.23 by ($0.25). Sigma Lithium had a negative net margin of 19.36% and a negative return on equity of 37.40%. The business had revenue of $54.70 million during the quarter, compared to the consensus estimate of $68.34 million. Analysts forecast that Sigma Lithium Corporation will post 0.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Sigma Lithium

A number of large investors have recently made changes to their positions in the stock. State of Wyoming acquired a new position in Sigma Lithium in the 2nd quarter worth approximately $109,000. Deutsche Bank AG purchased a new stake in shares of Sigma Lithium in the second quarter valued at approximately $116,000. Public Employees Retirement System of Ohio acquired a new position in Sigma Lithium during the second quarter worth $128,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Sigma Lithium during the 3rd quarter worth about $153,000. Finally, TD Waterhouse Canada Inc. raised its holdings in shares of Sigma Lithium by 17.6% during the third quarter. TD Waterhouse Canada Inc. now owns 28,939 shares of the company’s stock valued at $272,000 after acquiring an additional 4,334 shares during the last quarter. 64.86% of the stock is owned by hedge funds and other institutional investors.

Sigma Lithium Company Profile

Sigma Lithium Corp. is a Canadian-based lithium development and mining company focused on producing battery-grade lithium concentrate in Brazil. The company’s principal asset is the Grota do Cirilo project in the Jequitinhonha Valley of Minas Gerais, one of Brazil’s established hard-rock lithium regions.

Grota do Cirilo includes the Xuxa mine and processing operations that produce lithium concentrate from spodumene-bearing ore. Sigma Lithium uses a dense-media separation process designed to recover lithium while minimizing the use of chemicals and water.