Sigma Lithium (NASDAQ:SGML) Shares Down 3.7%

Sigma Lithium Co. (NASDAQ:SGML)’s share price was down 3.7% during mid-day trading on Monday . The company traded as low as $11.19 and last traded at $11.19. Approximately 11,662 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 1,084,339 shares. The stock had previously closed at $11.62.

Analysts Set New Price Targets

Separately, Bank of America upped their target price on shares of Sigma Lithium from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Monday, May 20th.

Sigma Lithium Trading Down 6.7 %

The firm has a market cap of $1.20 billion, a price-to-earnings ratio of -84.15 and a beta of 0.18. The business’s 50 day moving average price is $13.35 and its 200-day moving average price is $15.09. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.98 and a current ratio of 1.07.

Sigma Lithium (NASDAQ:SGML) last issued its earnings results on Wednesday, May 15th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.07). The firm had revenue of $37.39 million for the quarter, compared to analyst estimates of $57.79 million. Equities analysts expect that Sigma Lithium Co. will post 0.41 EPS for the current year.

Institutional Investors Weigh In On Sigma Lithium

Several institutional investors and hedge funds have recently bought and sold shares of the business. Appian Way Asset Management LP raised its stake in Sigma Lithium by 47.2% during the first quarter. Appian Way Asset Management LP now owns 2,270,102 shares of the company’s stock worth $29,421,000 after acquiring an additional 728,260 shares during the period. Frontier Capital Management Co. LLC raised 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 worth $71,202,000 after acquiring an additional 466,688 shares during the period. Electron Capital Partners LLC acquired a new stake in Sigma Lithium during the fourth quarter worth about $69,703,000. Van ECK Associates Corp raised its stake in Sigma Lithium by 47.0% during the first quarter. Van ECK Associates Corp now owns 1,057,916 shares of the company’s stock worth $13,711,000 after acquiring an additional 338,380 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Sigma Lithium by 23.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 718,536 shares of the company’s stock worth $22,655,000 after acquiring an additional 134,389 shares during the period. Institutional investors and hedge funds own 64.86% of the company’s stock.

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.