Sigma Lithium (NASDAQ:SGML) Rating Increased to Hold at Zacks Research

Sigma Lithium (NASDAQ:SGML) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. Bank of America downgraded shares of Sigma Lithium from a “buy” rating to a “neutral” rating and set a $7.00 price objective on the stock. in a report on Friday, October 24th. Wall Street Zen downgraded shares of Sigma Lithium from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Cormark raised shares of Sigma Lithium to a “moderate buy” rating in a report on Thursday, August 21st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sigma Lithium in a report on Wednesday, October 8th. 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.com, the company has an average rating of “Reduce” and a consensus target price of $7.00.

Sigma Lithium Stock Up 7.8%

Shares of NASDAQ:SGML opened at $10.61 on Tuesday. The business has a fifty day simple moving average of $6.80 and a 200 day simple moving average of $6.11. Sigma Lithium has a 12-month low of $4.25 and a 12-month high of $14.00. The firm has a market cap of $1.18 billion, a P/E ratio of -34.22 and a beta of 0.08. The company has a quick ratio of 0.32, a current ratio of 0.49 and a debt-to-equity ratio of 1.38.

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, hitting analysts’ consensus estimates of ($0.10). The firm had revenue of $28.55 million for the quarter, compared to the consensus estimate of $70.54 million. Sigma Lithium had a negative net margin of 24.13% and a negative return on equity of 35.97%. Analysts predict that Sigma Lithium will post -0.12 earnings per share for the current year.

Hedge Funds Weigh In On Sigma Lithium

A number of institutional investors have recently bought and sold shares of the stock. Malaga Cove Capital LLC bought a new position in Sigma Lithium during the 2nd quarter valued at approximately $52,000. BTG Pactual Asset Management US LLC bought a new position in Sigma Lithium in the third quarter valued at about $71,000. Quantbot Technologies LP bought a new position in shares of Sigma Lithium in the 3rd quarter worth approximately $82,000. Hunting Hill Global Capital LLC bought a new stake in Sigma Lithium during the second quarter valued at approximately $86,000. Finally, Nebula Research & Development LLC purchased a new stake in Sigma Lithium during the second quarter valued at approximately $87,000. 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.