Zacks Research Downgrades Sigma Lithium (NASDAQ:SGML) to Hold

Sigma Lithium (NASDAQ:SGML) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

A number of other equities analysts have also recently commented on SGML. Bank of America raised Sigma Lithium from a “neutral” rating to a “buy” rating and increased their target price for the company from $14.00 to $17.00 in a report on Thursday, April 2nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sigma Lithium in a research note on Wednesday, June 24th. Finally, Wall Street Zen raised Sigma Lithium from a “hold” rating to a “buy” rating in a research note on Sunday, June 21st. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $18.50.

Sigma Lithium Stock Up 2.8%

SGML opened at $10.48 on Monday. Sigma Lithium has a twelve month low of $4.61 and a twelve month high of $24.48. The company has a quick ratio of 0.25, a current ratio of 0.32 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average price of $13.71 and a 200 day moving average price of $14.31. The company has a market cap of $1.18 billion, a PE ratio of -26.87 and a beta of 0.58.

Sigma Lithium (NASDAQ:SGML) last issued its quarterly earnings results on Friday, May 15th. The company reported $0.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.10. Sigma Lithium had a negative net margin of 41.84% and a negative return on equity of 57.50%. The firm had revenue of $16.90 million for the quarter, compared to analyst estimates of $42.48 million. Sell-side analysts expect that Sigma Lithium will post 1.15 earnings per share for the current fiscal year.

Institutional Trading of Sigma Lithium

Large investors have recently bought and sold shares of the business. Farther Finance Advisors LLC acquired a new stake in Sigma Lithium in the 4th quarter valued at about $51,000. GF Fund Management CO. LTD. purchased a new position in Sigma Lithium in the 4th quarter worth approximately $57,000. BTG Pactual Asset Management US LLC acquired a new position in shares of Sigma Lithium during the 3rd quarter worth approximately $71,000. Quantbot Technologies LP acquired a new position in shares of Sigma Lithium during the 3rd quarter worth approximately $82,000. Finally, Nebula Research & Development LLC purchased a new stake in shares of Sigma Lithium in the second quarter valued at approximately $87,000. Hedge funds and other institutional investors own 64.86% of the company’s stock.

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.