Sigma Lithium (NASDAQ:SGML) Shares Gap Down – What’s Next?

Sigma Lithium Corporation (NASDAQ:SGML)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $14.80, but opened at $14.00. Sigma Lithium shares last traded at $14.3230, with a volume of 347,170 shares traded.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Sigma Lithium in a research note on Friday, March 27th. Zacks Research upgraded Sigma Lithium from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 21st. Wall Street Zen lowered Sigma Lithium from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Finally, Bank of America upgraded Sigma Lithium from a “neutral” rating to a “buy” rating and upped their price target for the stock from $14.00 to $17.00 in a research note on Thursday, April 2nd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Sigma Lithium presently has an average rating of “Moderate Buy” and a consensus target price of $18.50.

Sigma Lithium Trading Down 7.9%

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 firm has a market cap of $1.53 billion, a price-to-earnings ratio of -34.90 and a beta of 0.54. The business has a 50 day moving average price of $17.43 and a 200-day moving average price of $14.29.

Sigma Lithium (NASDAQ:SGML) last posted its earnings results on Friday, May 15th. The company reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. Sigma Lithium had a negative return on equity of 57.50% and a negative net margin of 41.84%.The business had revenue of $42.34 million during the quarter, compared to analyst estimates of $42.48 million. As a group, research analysts expect that Sigma Lithium Corporation will post 1.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Sigma Lithium

A number of large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its stake in shares of Sigma Lithium by 15.9% in the second quarter. BNP Paribas Financial Markets now owns 21,897 shares of the company’s stock valued at $99,000 after buying an additional 3,005 shares in the last quarter. Banque Cantonale Vaudoise grew its stake in shares of Sigma Lithium by 6.8% in the first quarter. Banque Cantonale Vaudoise now owns 55,143 shares of the company’s stock valued at $679,000 after buying an additional 3,489 shares in the last quarter. Farther Finance Advisors LLC acquired a new stake in shares of Sigma Lithium in the fourth quarter valued at about $51,000. Virtu Financial LLC grew its stake in shares of Sigma Lithium by 26.6% in the third quarter. Virtu Financial LLC now owns 20,053 shares of the company’s stock valued at $129,000 after buying an additional 4,210 shares in the last quarter. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of Sigma Lithium in the fourth quarter valued at about $57,000. Institutional investors and hedge funds 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.