Sigma Lithium (NASDAQ:SGML) Hits New 12-Month Low – Here’s Why

Shares of Sigma Lithium Co. (NASDAQ:SGML) reached a new 52-week low on Friday . The stock traded as low as $7.43 and last traded at $7.72, with a volume of 613829 shares trading hands. The stock had previously closed at $8.94.

Analyst Ratings Changes

Separately, Bank of America cut their target price on shares of Sigma Lithium from $25.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th.

Sigma Lithium Price Performance

The company has a market cap of $852.95 million, a price-to-earnings ratio of -16.09 and a beta of 0.21. The company’s 50 day moving average price is $11.22 and its 200 day moving average price is $12.20. The company has a current ratio of 0.84, a quick ratio of 0.72 and a debt-to-equity ratio of 0.02.

Sigma Lithium (NASDAQ:SGML) last announced its quarterly earnings data on Monday, March 31st. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.14). The business had revenue of $46.70 million during the quarter, compared to analysts’ expectations of $71.77 million. Sigma Lithium had a negative net margin of 36.85% and a negative return on equity of 38.04%. Equities research analysts forecast that Sigma Lithium Co. will post -0.12 earnings per share for the current year.

Institutional Investors Weigh In On Sigma Lithium

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Sigma Lithium by 203.6% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,183,675 shares of the company’s stock valued at $24,501,000 after purchasing an additional 1,464,475 shares during the period. Polar Asset Management Partners Inc. lifted its position in shares of Sigma Lithium by 22.0% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 246,500 shares of the company’s stock valued at $3,047,000 after acquiring an additional 44,400 shares during the period. State Street Corp purchased a new stake in shares of Sigma Lithium during the 3rd quarter worth approximately $1,831,000. The Manufacturers Life Insurance Company grew its holdings in shares of Sigma Lithium by 848.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 354,625 shares of the company’s stock worth $4,388,000 after acquiring an additional 317,225 shares during the period. Finally, Handelsbanken Fonder AB purchased a new position in Sigma Lithium in the 4th quarter valued at approximately $160,000. Institutional investors and hedge funds own 64.86% of the company’s stock.

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.