Sigma Lithium (NASDAQ:SGML) Shares Up 7.6% – Time to Buy?

Sigma Lithium Co. (NASDAQ:SGML)’s share price shot up 7.6% on Wednesday . The stock traded as high as $14.75 and last traded at $14.62. 519,175 shares were traded during mid-day trading, a decline of 49% from the average session volume of 1,008,970 shares. The stock had previously closed at $13.59.

Analyst Ratings Changes

Separately, BMO Capital Markets lowered their price objective 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 6.3 %

The company has a market capitalization of $1.60 billion, a PE ratio of 161.67 and a beta of 0.16. 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 firm has a 50-day moving average of $12.63 and a two-hundred day moving average of $12.81.

Sigma Lithium (NASDAQ:SGML) last released its quarterly earnings results on Thursday, August 15th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $69.70 million. Equities research analysts predict that Sigma Lithium Co. will post 0.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Point72 DIFC Ltd purchased a new position in shares of Sigma Lithium during the second quarter worth $48,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Sigma Lithium in the second quarter valued at $107,000. Tidal Investments LLC boosted its holdings in Sigma Lithium by 65.9% in the first quarter. Tidal Investments LLC now owns 44,241 shares of the company’s stock valued at $573,000 after purchasing an additional 17,566 shares during the period. SG Americas Securities LLC purchased a new position in Sigma Lithium in the second quarter valued at $672,000. Finally, Perpetual Ltd purchased a new position in Sigma Lithium in the third quarter valued at $2,096,000. 64.86% of the stock is currently owned by hedge funds and other institutional investors.

Sigma Lithium Company Profile

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.