Sigma Lithium (NASDAQ:SGML) Shares Up 6.3% – Should You Buy?

Sigma Lithium Corporation (NASDAQ:SGML)’s share price traded up 6.3% on Friday . The company traded as high as $9.38 and last traded at $9.4390. Approximately 465,226 shares changed hands during trading, a decline of 85% from the average daily volume of 3,207,692 shares. The stock had previously closed at $8.88.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. assumed coverage on Sigma Lithium in a report on Friday. They set an “overweight” rating and a $14.00 price target for the company. Wall Street Zen cut Sigma Lithium from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Zacks Research downgraded shares of Sigma Lithium from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 19th. Finally, Weiss Ratings downgraded shares of Sigma Lithium from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, August 13th. Four research analysts have rated the stock with a Buy rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Sigma Lithium currently has an average rating of “Hold” and a consensus price target of $17.38.

Sigma Lithium Stock Up 10.0%

The firm has a market cap of $1.10 billion, a price-to-earnings ratio of -40.75 and a beta of 0.64. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.25 and a current ratio of 0.34. The business’s 50-day moving average is $10.98 and its 200-day moving average is $13.58.

Sigma Lithium (NASDAQ:SGML) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.25). The company had revenue of $54.70 million for the quarter, compared to analyst estimates of $68.34 million. Sigma Lithium had a negative return on equity of 37.40% and a negative net margin of 19.36%. On average, equities analysts predict that Sigma Lithium Corporation will post 0.45 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. State of Wyoming bought a new stake in Sigma Lithium during the 2nd quarter worth about $109,000. Deutsche Bank AG bought a new stake in shares of Sigma Lithium during the 2nd quarter worth approximately $116,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Sigma Lithium in the 2nd quarter valued at approximately $128,000. Wellington Management Group LLP bought a new position in shares of Sigma Lithium in the second quarter valued at $286,000. Finally, Man Group plc acquired a new position in Sigma Lithium during the second quarter worth $295,000. Institutional investors and hedge funds own 64.86% of the company’s stock.

Sigma Lithium Company Profile

Sigma Lithium Corporation is a Canadian mining and technology company focused on the exploration, development, and production of lithium products for the electric vehicle and energy storage industries. Its principal operations are located in Brazil, where the company is developing and operating the Grota do Cirilo lithium project in the state of Minas Gerais.

Grota do Cirilo produces battery-grade lithium spodumene concentrate, a key raw material used to manufacture lithium-ion batteries.