Sigma Lithium (NASDAQ:SGML) Stock Price Down 4.7%

Sigma Lithium Co. (NASDAQ:SGML)’s stock price traded down 4.7% on Thursday . The company traded as low as $12.51 and last traded at $12.51. 345,722 shares changed hands during trading, a decline of 67% from the average session volume of 1,044,961 shares. The stock had previously closed at $13.13.

Wall Street Analysts Forecast Growth

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

Sigma Lithium Trading Down 3.7 %

The business’s 50 day moving average price is $10.59 and its two-hundred day moving average price is $12.82. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -96.62 and a beta of 0.16. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.96 and a current ratio of 1.05.

Sigma Lithium (NASDAQ:SGML) last issued 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 company had revenue of $45.94 million during 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%. Equities analysts forecast that Sigma Lithium Co. will post 0.04 earnings per share for the current fiscal year.

Institutional Trading of Sigma Lithium

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fourth Sail Capital LP lifted its stake in Sigma Lithium by 1,572.2% during the second 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 during the last quarter. Appian Way Asset Management LP lifted its stake in Sigma Lithium by 14.7% during the second quarter. Appian Way Asset Management LP now owns 2,604,136 shares of the company’s stock valued at $31,328,000 after purchasing an additional 334,034 shares during the last quarter. Frontier Capital Management Co. LLC lifted its stake in Sigma Lithium by 26.0% during the fourth quarter. Frontier Capital Management Co. LLC now owns 2,258,218 shares of the company’s stock valued at $71,202,000 after purchasing an additional 466,688 shares during the last quarter. Electron Capital Partners LLC acquired a new stake in Sigma Lithium during the fourth quarter valued at approximately $69,703,000. Finally, Millennium Management LLC lifted its stake in Sigma Lithium by 16.9% during the second 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.