Sigma Lithium (NASDAQ:SGML) Downgraded by Wall Street Zen to Sell

Wall Street Zen cut shares of Sigma Lithium (NASDAQ:SGML) from a hold rating to a sell rating in a report issued on Saturday.

Sigma Lithium Stock Performance

Shares of NASDAQ SGML opened at $6.45 on Friday. The stock has a fifty day moving average price of $5.56 and a two-hundred day moving average price of $7.79. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.67 and a current ratio of 0.85. The firm has a market cap of $717.95 million, a P/E ratio of -14.66 and a beta of 0.07. Sigma Lithium has a 1 year low of $4.25 and a 1 year high of $15.56.

Sigma Lithium (NASDAQ:SGML) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.14). Sigma Lithium had a negative net margin of 35.69% and a negative return on equity of 45.84%. The company had revenue of $16.89 million for the quarter, compared to analyst estimates of $50.44 million. Research analysts forecast that Sigma Lithium will post -0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Sigma Lithium

A number of institutional investors and hedge funds have recently modified their holdings of SGML. JPMorgan Chase & Co. lifted its position in shares of Sigma Lithium by 13,614.9% during the 4th quarter. JPMorgan Chase & Co. now owns 33,053 shares of the company’s stock valued at $371,000 after acquiring an additional 32,812 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Sigma Lithium by 10.9% during the 4th quarter. Alliancebernstein L.P. now owns 17,390 shares of the company’s stock valued at $195,000 after acquiring an additional 1,710 shares during the last quarter. Invesco Ltd. lifted its position in shares of Sigma Lithium by 171.3% during the 4th quarter. Invesco Ltd. now owns 1,088,992 shares of the company’s stock valued at $12,218,000 after acquiring an additional 687,639 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Sigma Lithium during the 4th quarter valued at $233,000. Finally, Walleye Capital LLC acquired a new stake in shares of Sigma Lithium during the 4th quarter valued at $479,000. Institutional investors and hedge funds own 64.86% of the company’s stock.

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.