Sigma Lithium (NASDAQ:SGML) Shares Down 4.1% – Should You Sell?

Sigma Lithium Co. (NASDAQ:SGML)’s stock price was down 4.1% on Monday . The stock traded as low as $13.41 and last traded at $13.45. Approximately 155,896 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 1,032,230 shares. The stock had previously closed at $14.03.

Analyst Ratings Changes

Separately, BMO Capital Markets lowered their price target on shares of Sigma Lithium from $25.00 to $20.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th.

Sigma Lithium Stock Performance

The stock has a 50-day moving average of $11.59 and a 200 day moving average of $12.86. The stock has a market cap of $1.62 billion, a PE ratio of -112.23 and a beta of 0.18. The company has a quick ratio of 0.96, a current ratio of 1.05 and a debt-to-equity ratio of 0.02.

Sigma Lithium (NASDAQ:SGML) last issued its earnings results on Thursday, August 15th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.23). The company had revenue of $45.94 million during the quarter, compared to analyst estimates of $69.70 million. Sigma Lithium had a return on equity of 6.18% and a net margin of 4.28%.

Hedge Funds Weigh In On Sigma Lithium

Institutional investors have recently bought and sold shares of the company. Fourth Sail Capital LP increased its holdings in shares of Sigma Lithium by 1,572.2% during the 2nd quarter. Fourth Sail Capital LP now owns 3,134,797 shares of the company’s stock worth $37,712,000 after buying an additional 2,947,331 shares during the last quarter. Appian Way Asset Management LP grew its position in Sigma Lithium by 14.7% in the second quarter. Appian Way Asset Management LP now owns 2,604,136 shares of the company’s stock worth $31,328,000 after acquiring an additional 334,034 shares during the period. Millennium Management LLC raised its position in Sigma Lithium by 16.9% in the second quarter. Millennium Management LLC now owns 1,243,579 shares of the company’s stock valued at $14,960,000 after purchasing an additional 179,355 shares during the period. Van ECK Associates Corp lifted its stake in shares of Sigma Lithium by 13.6% in the 2nd quarter. Van ECK Associates Corp now owns 1,201,612 shares of the company’s stock valued at $14,455,000 after purchasing an additional 143,696 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of Sigma Lithium by 18.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,144,492 shares of the company’s stock worth $13,768,000 after purchasing an additional 174,992 shares during the period. 64.86% of the stock is owned by hedge funds and other institutional investors.

Sigma Lithium Company 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.