Traders Purchase Large Volume of Sigma Lithium Put Options (NASDAQ:SGML)

Sigma Lithium Co. (NASDAQ:SGML) saw unusually large options trading activity on Friday. Investors bought 2,598 put options on the stock. This is an increase of 99% compared to the average volume of 1,306 put options.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets cut their price target on Sigma Lithium from $25.00 to $20.00 and set an “outperform” rating for the company in a research note on Monday, August 19th.

Sigma Lithium Stock Down 1.6 %

SGML stock opened at $12.94 on Friday. Sigma Lithium has a 52 week low of $8.47 and a 52 week high of $34.31. The business has a 50-day simple moving average of $12.87 and a 200 day simple moving average of $12.81. 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 company has a market cap of $1.44 billion, a PE ratio of 143.78 and a beta of 0.16.

Sigma Lithium (NASDAQ:SGML) last issued its 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). The firm had revenue of $45.94 million during the quarter, compared to analyst estimates of $69.70 million. Sigma Lithium had a net margin of 4.28% and a return on equity of 6.18%. Sell-side analysts anticipate that Sigma Lithium will post 0.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SGML. Fourth Sail Capital LP raised its stake in Sigma Lithium by 1,572.2% during the second quarter. Fourth Sail Capital LP now owns 3,134,797 shares of the company’s stock worth $37,712,000 after acquiring an additional 2,947,331 shares in the last quarter. Appian Way Asset Management LP increased its holdings in Sigma Lithium by 57.2% in the 3rd quarter. Appian Way Asset Management LP now owns 4,092,401 shares of the company’s stock worth $50,582,000 after purchasing an additional 1,488,265 shares in the last quarter. Bridgewater Associates LP bought a new position in Sigma Lithium in the third quarter valued at about $4,584,000. The Manufacturers Life Insurance Company boosted its stake in shares of Sigma Lithium by 848.2% during the third quarter. The Manufacturers Life Insurance Company now owns 354,625 shares of the company’s stock valued at $4,388,000 after purchasing an additional 317,225 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Sigma Lithium by 16.9% during the second quarter. Millennium Management LLC now owns 1,243,579 shares of the company’s stock worth $14,960,000 after purchasing an additional 179,355 shares during the last quarter. 64.86% of the stock is owned by institutional investors.

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.