Wealth Enhancement Advisory Services LLC Takes Position in Sigma Lithium Co. (NASDAQ:SGML)

Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Sigma Lithium Co. (NASDAQ:SGML) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 44,350 shares of the company’s stock, valued at approximately $498,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Appian Way Asset Management LP increased its stake in Sigma Lithium by 15.2% in the fourth quarter. Appian Way Asset Management LP now owns 4,712,425 shares of the company’s stock worth $52,873,000 after purchasing an additional 620,024 shares during the period. Norges Bank bought a new position in shares of Sigma Lithium in the fourth quarter worth about $28,050,000. Bank Julius Baer & Co. Ltd Zurich grew its holdings 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 worth $24,501,000 after purchasing an additional 1,464,475 shares during the last quarter. Woodline Partners LP increased its stake in Sigma Lithium by 113.5% in the 4th quarter. Woodline Partners LP now owns 1,617,673 shares of the company’s stock worth $18,150,000 after buying an additional 859,924 shares during the period. Finally, Sourcerock Group LLC lifted its holdings in Sigma Lithium by 46.0% during the 4th quarter. Sourcerock Group LLC now owns 1,387,222 shares of the company’s stock valued at $15,565,000 after buying an additional 437,010 shares in the last quarter. 64.86% of the stock is owned by hedge funds and other institutional investors.

Sigma Lithium Stock Performance

NASDAQ SGML opened at $5.13 on Friday. The firm has a market capitalization of $570.88 million, a P/E ratio of -10.69 and a beta of 0.07. The stock has a 50-day simple moving average of $6.83 and a two-hundred day simple moving average of $9.90. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.72 and a current ratio of 0.84. Sigma Lithium Co. has a fifty-two week low of $4.52 and a fifty-two week high of $15.56.

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

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Sigma Lithium from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd.

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.