Sigma Lithium (NASDAQ:SGML) Stock Price Up 7.6% – Time to Buy?

Sigma Lithium Co. (NASDAQ:SGML) shares shot up 7.6% during trading on Wednesday . The company traded as high as $14.75 and last traded at $14.62. 519,175 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 1,008,970 shares. The stock had previously closed at $13.59.

Analyst Ratings Changes

Separately, BMO Capital Markets lowered their target price on 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 Stock Up 6.3 %

The company has a market cap of $1.60 billion, a price-to-earnings ratio of 161.67 and a beta of 0.16. 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 has a fifty day moving average of $12.63 and a two-hundred day moving average of $12.81.

Sigma Lithium (NASDAQ:SGML) last announced its earnings results on Thursday, August 15th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.23). Sigma Lithium had a net margin of 4.28% and a return on equity of 6.18%. The firm had revenue of $45.94 million for the quarter, compared to analyst estimates of $69.70 million. As a group, equities analysts anticipate that Sigma Lithium Co. will post 0.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Sigma Lithium

A number of hedge funds have recently made changes to their positions in SGML. Point72 DIFC Ltd acquired a new position in shares of Sigma Lithium during the second quarter valued at approximately $48,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Sigma Lithium in the second quarter valued at approximately $107,000. Tidal Investments LLC increased its holdings in shares of Sigma Lithium by 65.9% in the first quarter. Tidal Investments LLC now owns 44,241 shares of the company’s stock valued at $573,000 after purchasing an additional 17,566 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Sigma Lithium in the second quarter valued at approximately $672,000. Finally, Perpetual Ltd acquired a new stake in shares of Sigma Lithium in the third quarter valued at approximately $2,096,000. 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.