Sigma Lithium (NASDAQ:SGML) Shares Up 3.6%

Sigma Lithium Co. (NASDAQ:SGML)’s share price was up 3.6% on Monday . The company traded as high as $11.84 and last traded at $11.82. Approximately 20,515 shares changed hands during trading, a decline of 98% from the average daily volume of 1,050,213 shares. The stock had previously closed at $11.41.

Analysts Set New Price Targets

Separately, BMO Capital Markets lowered their price target on Sigma Lithium from $25.00 to $20.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th.

Sigma Lithium Trading Up 5.0 %

The company’s 50 day moving average is $10.53 and its two-hundred day moving average is $12.90. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.05 and a quick ratio of 0.96. The firm has a market cap of $1.33 billion, a P/E ratio of -93.08 and a beta of 0.16.

Sigma Lithium (NASDAQ:SGML) last posted its quarterly earnings results on Thursday, August 15th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.23). The business had revenue of $45.94 million for the quarter, compared to analyst estimates of $69.70 million. Sigma Lithium had a return on equity of 6.18% and a net margin of 4.28%. On average, sell-side analysts predict that Sigma Lithium Co. will post 0.04 earnings per share for the current year.

Hedge Funds Weigh In On Sigma Lithium

A number of hedge funds have recently modified their holdings of the stock. Fourth Sail Capital LP boosted its stake in shares of Sigma Lithium by 1,572.2% in the 2nd quarter. Fourth Sail Capital LP now owns 3,134,797 shares of the company’s stock valued at $37,712,000 after purchasing an additional 2,947,331 shares in the last quarter. Appian Way Asset Management LP increased its position in Sigma Lithium by 14.7% in the 2nd quarter. Appian Way Asset Management LP now owns 2,604,136 shares of the company’s stock valued at $31,328,000 after acquiring an additional 334,034 shares in the last quarter. Frontier Capital Management Co. LLC raised its stake in shares of Sigma Lithium by 26.0% in the fourth quarter. Frontier Capital Management Co. LLC now owns 2,258,218 shares of the company’s stock worth $71,202,000 after acquiring an additional 466,688 shares during the last quarter. Electron Capital Partners LLC bought a new position in Sigma Lithium in the 4th quarter worth approximately $69,703,000. Finally, Millennium Management LLC boosted its stake in shares of Sigma Lithium by 16.9% in the 2nd quarter. Millennium Management LLC now owns 1,243,579 shares of the company’s stock valued at $14,960,000 after purchasing an additional 179,355 shares during the last quarter. 64.86% of the stock is owned by institutional investors and hedge funds.

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.