Sigma Lithium (NASDAQ:SGML) Shares Down 8.3% – Should You Sell?

Sigma Lithium Co. (NASDAQ:SGML)’s stock price traded down 8.3% on Thursday . The stock traded as low as $13.21 and last traded at $13.24. 607,922 shares traded hands during mid-day trading, a decline of 40% from the average session volume of 1,010,430 shares. The stock had previously closed at $14.44.

Analysts Set New Price Targets

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

Sigma Lithium Trading Down 1.6 %

The company has a quick ratio of 0.96, a current ratio of 1.05 and a debt-to-equity ratio of 0.02. The stock has a market cap of $1.44 billion, a PE ratio of 143.78 and a beta of 0.16. The business’s fifty day moving average is $12.87 and its 200 day moving average is $12.81.

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

Hedge Funds Weigh In On Sigma Lithium

Several institutional investors and hedge funds have recently bought and sold shares of SGML. Point72 DIFC Ltd purchased a new stake in Sigma Lithium during the second quarter worth approximately $48,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Sigma Lithium during the second quarter worth approximately $107,000. Geode Capital Management LLC grew its stake in Sigma Lithium by 8.4% during the third quarter. Geode Capital Management LLC now owns 117,125 shares of the company’s stock worth $1,448,000 after buying an additional 9,049 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Sigma Lithium during the third quarter worth approximately $122,000. Finally, Tidal Investments LLC grew its stake in Sigma Lithium by 65.9% during the first quarter. Tidal Investments LLC now owns 44,241 shares of the company’s stock worth $573,000 after buying an additional 17,566 shares during the period. Institutional investors and hedge funds own 64.86% of the company’s stock.

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.