Malaga Cove Capital LLC Acquires Shares of 11,600 Sigma Lithium Corporation $SGML

Malaga Cove Capital LLC bought a new position in shares of Sigma Lithium Corporation (NASDAQ:SGML) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 11,600 shares of the company’s stock, valued at approximately $52,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Levin Capital Strategies L.P. boosted its position in shares of Sigma Lithium by 125.0% during the second quarter. Levin Capital Strategies L.P. now owns 22,500 shares of the company’s stock valued at $101,000 after purchasing an additional 12,500 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in Sigma Lithium during the first quarter valued at $109,000. Aberdeen Group plc bought a new stake in shares of Sigma Lithium during the 2nd quarter valued at $187,000. Ascent Group LLC purchased a new stake in shares of Sigma Lithium in the 1st quarter worth about $264,000. Finally, Maven Securities LTD grew its position in shares of Sigma Lithium by 185.9% in the 1st quarter. Maven Securities LTD now owns 42,891 shares of the company’s stock worth $446,000 after buying an additional 27,891 shares during the period. Hedge funds and other institutional investors own 64.86% of the company’s stock.

Sigma Lithium Trading Up 4.9%

Shares of NASDAQ SGML opened at $5.32 on Friday. The firm’s 50 day moving average price is $6.24 and its 200-day moving average price is $6.10. Sigma Lithium Corporation has a 52-week low of $4.25 and a 52-week high of $14.77. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.39 and a current ratio of 0.60. The company has a market cap of $592.56 million, a PE ratio of -12.09 and a beta of 0.08.

Sigma Lithium (NASDAQ:SGML) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.14). Sigma Lithium had a negative net margin of 35.69% and a negative return on equity of 47.19%. The firm had revenue of $16.89 million for the quarter, compared to the consensus estimate of $50.44 million. On average, equities research analysts expect that Sigma Lithium Corporation will post -0.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SGML. Cormark raised shares of Sigma Lithium to a “moderate buy” rating in a research report on Thursday, August 21st. Zacks Research lowered shares of Sigma Lithium from a “hold” rating to a “strong sell” rating in a report on Monday, October 27th. Wall Street Zen downgraded Sigma Lithium from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sigma Lithium in a research report on Wednesday, October 8th. Finally, Bank of America cut Sigma Lithium from a “buy” rating to a “neutral” rating and set a $7.00 price objective for the company. in a research note on Friday, October 24th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Sigma Lithium currently has an average rating of “Sell” and a consensus target price of $7.00.

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.