Sigma Lithium (NASDAQ:SGML) Stock Price Down 12.5% – Should You Sell?

by · The Cerbat Gem

Sigma Lithium Corporation (NASDAQ:SGML – Get Free Report)’s share price traded down 12.5% on Monday. The stock traded as low as $7.12 and last traded at $6.1260. 176,050 shares were traded during mid-day trading, a decline of 94% from the average session volume of 3,034,588 shares. The stock had previously closed at $7.00.

Wall Street Analyst Weigh In

SGML has been the subject of several recent research reports. BMO Capital Markets cut shares of Sigma Lithium from an “outperform” rating to a “market perform” rating and set a $10.00 price target for the company. in a research report on Thursday, October 1st. Zacks Research downgraded Sigma Lithium from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 19th. JPMorgan Chase & Co. downgraded shares of Sigma Lithium from an “overweight” rating to a “neutral” rating and set a $11.00 target price on the stock. in a report on Friday, October 2nd. Weiss Ratings downgraded Sigma Lithium from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, August 13th. Finally, ATB Cormark Capital Markets raised shares of Sigma Lithium from a “hold” rating to a “moderate buy” rating in a research note on Thursday, October 15th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Sigma Lithium has a consensus rating of “Hold” and a consensus price target of $14.30.

Check Out Our Latest Stock Analysis on Sigma Lithium

Sigma Lithium Trading Down 17.8%

The firm’s fifty day simple moving average is $9.81 and its 200 day simple moving average is $12.80. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.25 and a current ratio of 0.34. The stock has a market capitalization of $648.53 million, a P/E ratio of -23.98 and a beta of 0.75.

Sigma Lithium (NASDAQ:SGML – Get Free Report) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.25). The business had revenue of $54.70 million during the quarter, compared to analyst estimates of $68.34 million. Sigma Lithium had a negative net margin of 19.36% and a negative return on equity of 37.40%. As a group, equities research analysts forecast that Sigma Lithium Corporation will post 0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Sigma Lithium

Large investors have recently modified their holdings of the company. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Sigma Lithium in the 3rd quarter valued at $153,000. TD Waterhouse Canada Inc. boosted its stake in Sigma Lithium by 17.6% during the third quarter. TD Waterhouse Canada Inc. now owns 28,939 shares of the company’s stock worth $272,000 after buying an additional 4,334 shares during the period. Perpetual Ltd purchased a new stake in shares of Sigma Lithium in the 3rd quarter worth approximately $361,000. Squarepoint Ops LLC purchased a new position in Sigma Lithium during the 2nd quarter worth approximately $1,462,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Sigma Lithium during the second quarter worth approximately $726,000. 64.86% of the stock is currently owned by institutional investors.

Sigma Lithium Company Profile

(Get Free Report)

Sigma Lithium Corp. is a Canadian-based lithium development and mining company focused on producing battery-grade lithium concentrate in Brazil. The company’s principal asset is the Grota do Cirilo project in the Jequitinhonha Valley of Minas Gerais, one of Brazil’s established hard-rock lithium regions.

Grota do Cirilo includes the Xuxa mine and processing operations that produce lithium concentrate from spodumene-bearing ore. Sigma Lithium uses a dense-media separation process designed to recover lithium while minimizing the use of chemicals and water.

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