Sigma Lithium (NASDAQ:SGML) Shares Up 11.7% – Still a Buy?

Sigma Lithium Co. (NASDAQ:SGML) shares shot up 11.7% during trading on Wednesday . The company traded as high as $15.09 and last traded at $14.75. 496,153 shares changed hands during trading, a decline of 52% from the average session volume of 1,036,654 shares. The stock had previously closed at $13.20.

Analyst Ratings Changes

Separately, BMO Capital Markets decreased their price target on 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 Stock Up 5.4 %

The company has a quick ratio of 0.96, a current ratio of 1.05 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $1.54 billion, a PE ratio of -107.38 and a beta of 0.18. The stock has a 50-day moving average of $10.74 and a 200 day moving average of $12.84.

Sigma Lithium (NASDAQ:SGML) last released its earnings results on Thursday, August 15th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.23). Sigma Lithium had a return on equity of 6.18% and a net margin of 4.28%. The firm had revenue of $45.94 million during the quarter, compared to analysts’ expectations of $69.70 million.

Institutional Trading of Sigma Lithium

A number of large investors have recently bought and sold shares of SGML. Point72 DIFC Ltd purchased a new stake in Sigma Lithium in the second quarter worth $48,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Sigma Lithium in the second quarter worth $107,000. Tidal Investments LLC boosted its holdings in shares of Sigma Lithium by 65.9% in the first quarter. Tidal Investments LLC now owns 44,241 shares of the company’s stock worth $573,000 after acquiring an additional 17,566 shares during the period. SG Americas Securities LLC bought a new position in shares of Sigma Lithium in the second quarter worth $672,000. Finally, Cantor Fitzgerald L. P. bought a new position in shares of Sigma Lithium in the fourth quarter worth $1,548,000. 64.86% of the stock is owned by hedge funds and other institutional investors.

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.