Sigma Lithium (NASDAQ:SGML) Sets New 52-Week High – What’s Next?

Sigma Lithium Corporation (NASDAQ:SGML)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $14.25 and last traded at $13.2920, with a volume of 1142472 shares traded. The stock had previously closed at $12.19.

Analyst Ratings Changes

SGML has been the subject of a number of analyst reports. Bank of America downgraded shares of Sigma Lithium from a “buy” rating to a “neutral” rating and set a $7.00 price target for the company. in a research report on Friday, October 24th. Zacks Research upgraded Sigma Lithium from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 25th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Sigma Lithium in a research report on Monday, December 15th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Sigma Lithium presently has a consensus rating of “Reduce” and a consensus price target of $7.00.

Sigma Lithium Trading Up 8.4%

The firm’s 50-day simple moving average is $8.20 and its 200 day simple moving average is $6.71. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.49 and a quick ratio of 0.32. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of -42.67 and a beta of 0.02.

Sigma Lithium (NASDAQ:SGML) last issued its quarterly earnings results on Friday, November 14th. The company reported ($0.10) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.10). The company had revenue of $28.55 million for the quarter, compared to analyst estimates of $70.54 million. Sigma Lithium had a negative return on equity of 35.97% and a negative net margin of 24.13%. Equities analysts expect that Sigma Lithium Corporation will post -0.12 earnings per share for the current year.

Institutional Investors Weigh In On Sigma Lithium

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BTG Pactual Asset Management US LLC bought a new position in Sigma Lithium in the 3rd quarter valued at approximately $71,000. Malaga Cove Capital LLC bought a new stake in shares of Sigma Lithium during the second quarter worth $52,000. Quantbot Technologies LP acquired a new position in shares of Sigma Lithium during the third quarter worth $82,000. ProShare Advisors LLC acquired a new position in shares of Sigma Lithium during the third quarter worth $90,000. Finally, Banque Cantonale Vaudoise boosted its holdings in shares of Sigma Lithium by 7,339.9% during the 3rd quarter. Banque Cantonale Vaudoise now owns 15,103 shares of the company’s stock valued at $97,000 after acquiring an additional 14,900 shares in the last quarter. 64.86% of the stock is owned by institutional investors.

Sigma Lithium Company Profile

Sigma Lithium Corp. is a Canada-based mineral exploration and development company focused on the sustainable production of battery-grade lithium from hard rock deposits. The company’s flagship asset is the Grota do Cirilo lithium project, located in the state of Minas Gerais, Brazil. Grota do Cirilo comprises a fully permitted, low-altitude spodumene mine and processing plant designed to produce high-purity lithium concentrate and downstream lithium hydroxide for the global electric vehicle and energy storage markets.

Since its founding in 2018, Sigma Lithium has pursued a vertically integrated approach, overseeing each stage of production from ore extraction and beneficiation to chemical conversion.