Adage Capital Partners GP L.L.C. Buys 171,425 Shares of Sigma Lithium Co. (NASDAQ:SGML)

Adage Capital Partners GP L.L.C. increased its stake in shares of Sigma Lithium Co. (NASDAQ:SGML) by 320.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 225,000 shares of the company’s stock after buying an additional 171,425 shares during the period. Adage Capital Partners GP L.L.C.’s holdings in Sigma Lithium were worth $2,524,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Alliancebernstein L.P. boosted its holdings in shares of Sigma Lithium by 10.9% during the fourth quarter. Alliancebernstein L.P. now owns 17,390 shares of the company’s stock worth $195,000 after acquiring an additional 1,710 shares during the period. U S Global Investors Inc. increased its stake in shares of Sigma Lithium by 233.3% during the fourth quarter. U S Global Investors Inc. now owns 10,000 shares of the company’s stock worth $112,000 after purchasing an additional 7,000 shares during the period. Geode Capital Management LLC lifted its holdings in Sigma Lithium by 8.4% during the 3rd quarter. Geode Capital Management LLC now owns 117,125 shares of the company’s stock worth $1,448,000 after purchasing an additional 9,049 shares during the last quarter. Pictet Asset Management Holding SA bought a new stake in Sigma Lithium in the 4th quarter valued at $142,000. Finally, Handelsbanken Fonder AB acquired a new position in Sigma Lithium in the 4th quarter valued at $160,000. Institutional investors and hedge funds own 64.86% of the company’s stock.

Analysts Set New Price Targets

Separately, Bank of America dropped their target price on Sigma Lithium from $25.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, January 14th.

Sigma Lithium Price Performance

Shares of SGML opened at $8.20 on Wednesday. The company has a current ratio of 0.84, a quick ratio of 0.72 and a debt-to-equity ratio of 0.02. Sigma Lithium Co. has a 12 month low of $6.76 and a 12 month high of $19.20. The firm’s 50 day moving average is $9.93 and its 200-day moving average is $11.56. The stock has a market capitalization of $912.50 million, a PE ratio of -17.08 and a beta of 0.26.

Sigma Lithium (NASDAQ:SGML) last posted its quarterly earnings data on Monday, March 31st. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.14). The company had revenue of $46.70 million for the quarter, compared to the consensus estimate of $71.77 million. Sigma Lithium had a negative return on equity of 38.04% and a negative net margin of 36.85%. Equities research analysts forecast that Sigma Lithium Co. will post -0.12 EPS for the current year.

Sigma Lithium 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.