Sigma Lithium (NASDAQ:SGML) Stock Price Up 5.1% – Should You Buy?

Shares of Sigma Lithium Co. (NASDAQ:SGML) rose 5.1% during mid-day trading on Tuesday . The company traded as high as $14.14 and last traded at $14.10. Approximately 196,218 shares traded hands during trading, a decline of 81% from the average daily volume of 1,030,677 shares. The stock had previously closed at $13.41.

Analyst Upgrades and Downgrades

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

Sigma Lithium Stock Up 8.8 %

The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.96 and a current ratio of 1.05. The company has a market capitalization of $1.62 billion, a PE ratio of 160.11 and a beta of 0.18. The firm’s 50-day simple moving average is $11.48 and its 200 day simple moving average is $12.86.

Sigma Lithium (NASDAQ:SGML) last released its quarterly earnings data 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 return on equity of 6.18% and a net margin of 4.28%. The company had revenue of $45.94 million for the quarter, compared to analysts’ expectations of $69.70 million.

Hedge Funds Weigh In On Sigma Lithium

Hedge funds have recently bought and sold shares of the company. Point72 DIFC Ltd purchased a new stake in Sigma Lithium during the second quarter worth $48,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Sigma Lithium during the second quarter worth about $107,000. Tidal Investments LLC lifted its stake in shares of Sigma Lithium by 65.9% during the first quarter. Tidal Investments LLC now owns 44,241 shares of the company’s stock valued at $573,000 after buying an additional 17,566 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Sigma Lithium in the second quarter valued at $672,000. Finally, Perpetual Ltd acquired a new position in Sigma Lithium in the third quarter valued at $2,096,000. 64.86% of the stock is owned by hedge funds and other institutional investors.

About Sigma Lithium

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.