Investors Buy Large Volume of Sigma Lithium Put Options (NASDAQ:SGML)

Sigma Lithium Co. (NASDAQ:SGML) saw some unusual options trading on Friday. Traders acquired 2,598 put options on the company. This is an increase of approximately 99% compared to the typical daily volume of 1,306 put options.

Sigma Lithium Price Performance

SGML traded down $1.51 during trading hours on Friday, hitting $11.64. The company’s stock had a trading volume of 1,294,529 shares, compared to its average volume of 1,011,921. Sigma Lithium has a 12 month low of $8.47 and a 12 month high of $34.31. The company has a current ratio of 1.05, a quick ratio of 0.96 and a debt-to-equity ratio of 0.02. The business’s 50-day moving average price is $12.72 and its 200-day moving average price is $12.83. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 136.00 and a beta of 0.16.

Sigma Lithium (NASDAQ:SGML) last released its earnings results on Thursday, August 15th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.23). The company had revenue of $45.94 million for the quarter, compared to the consensus estimate of $69.70 million. Sigma Lithium had a net margin of 4.28% and a return on equity of 6.18%. Sell-side analysts expect that Sigma Lithium will post 0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sigma Lithium

Several hedge funds and other institutional investors have recently modified their holdings of the business. 1832 Asset Management L.P. increased its stake in Sigma Lithium by 43.3% in the first quarter. 1832 Asset Management L.P. now owns 382,000 shares of the company’s stock worth $4,951,000 after purchasing an additional 115,438 shares during the period. SG Americas Securities LLC purchased a new position in Sigma Lithium in the 2nd quarter worth about $672,000. Perpetual Ltd bought a new stake in Sigma Lithium during the 3rd quarter valued at about $2,096,000. Fourth Sail Capital LP boosted its position in Sigma Lithium by 1,572.2% in the 2nd quarter. Fourth Sail Capital LP now owns 3,134,797 shares of the company’s stock valued at $37,712,000 after buying an additional 2,947,331 shares during the period. Finally, Millennium Management LLC raised its stake in shares of Sigma Lithium by 16.9% during the second quarter. Millennium Management LLC now owns 1,243,579 shares of the company’s stock valued at $14,960,000 after acquiring an additional 179,355 shares in the last quarter. 64.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.