Sigma Lithium (NASDAQ:SGML) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of Sigma Lithium (NASDAQ:SGML) from a buy rating to a hold rating in a research note published on Saturday.

Other equities analysts also recently issued research reports about the stock. Weiss Ratings raised shares of Sigma Lithium from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 29th. Zacks Research downgraded Sigma Lithium from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Sigma Lithium currently has an average rating of “Hold” and an average price target of $18.50.

Sigma Lithium Stock Performance

NASDAQ:SGML opened at $11.38 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.25 and a current ratio of 0.32. Sigma Lithium has a fifty-two week low of $4.61 and a fifty-two week high of $24.48. The company has a 50 day simple moving average of $12.23 and a two-hundred day simple moving average of $13.91. The company has a market capitalization of $1.28 billion, a PE ratio of -29.18 and a beta of 0.61.

Sigma Lithium (NASDAQ:SGML) last issued its quarterly earnings results on Friday, May 15th. The company reported $0.10 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.10. Sigma Lithium had a negative net margin of 41.84% and a negative return on equity of 57.50%. The firm had revenue of $16.90 million for the quarter, compared to the consensus estimate of $42.48 million. Research analysts anticipate that Sigma Lithium will post 1.15 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of SGML. BNP Paribas Financial Markets boosted its stake in Sigma Lithium by 15.9% during the second quarter. BNP Paribas Financial Markets now owns 21,897 shares of the company’s stock worth $99,000 after acquiring an additional 3,005 shares in the last quarter. Banque Cantonale Vaudoise increased its stake in Sigma Lithium by 6.8% in the first quarter. Banque Cantonale Vaudoise now owns 55,143 shares of the company’s stock valued at $679,000 after purchasing an additional 3,489 shares in the last quarter. Farther Finance Advisors LLC acquired a new position in shares of Sigma Lithium during the fourth quarter valued at about $51,000. Virtu Financial LLC raised its holdings in shares of Sigma Lithium by 26.6% during the third quarter. Virtu Financial LLC now owns 20,053 shares of the company’s stock valued at $129,000 after purchasing an additional 4,210 shares during the period. Finally, GF Fund Management CO. LTD. bought a new position in shares of Sigma Lithium during the 4th quarter worth about $57,000. Institutional investors and hedge funds own 64.86% of the company’s stock.

Sigma Lithium Company Profile

Sigma Lithium Corp. is a Canada-based mineral exploration and development company focused on the sustainable production of battery-grade lithium from hard rock deposits. The company’s flagship asset is the Grota do Cirilo lithium project, located in the state of Minas Gerais, Brazil. Grota do Cirilo comprises a fully permitted, low-altitude spodumene mine and processing plant designed to produce high-purity lithium concentrate and downstream lithium hydroxide for the global electric vehicle and energy storage markets.

Since its founding in 2018, Sigma Lithium has pursued a vertically integrated approach, overseeing each stage of production from ore extraction and beneficiation to chemical conversion.