Sigma Lithium (NASDAQ:SGML) Stock Rating Lowered by Wall Street Zen

Sigma Lithium (NASDAQ:SGML) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

SGML has been the topic of a number of other reports. Zacks Research raised Sigma Lithium from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 21st. Weiss Ratings reissued a “sell (e+)” rating on shares of Sigma Lithium in a research note on Friday, March 27th. Finally, Bank of America raised Sigma Lithium from a “neutral” rating to a “buy” rating and raised their price target for the stock from $14.00 to $17.00 in a research note on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $18.50.

Sigma Lithium Trading Up 8.5%

Sigma Lithium stock opened at $15.98 on Friday. The stock has a 50-day moving average price of $17.40 and a 200 day moving average price of $14.16. The company has a current ratio of 0.32, a quick ratio of 0.25 and a debt-to-equity ratio of 0.21. Sigma Lithium has a 52 week low of $4.25 and a 52 week high of $24.48. The stock has a market cap of $1.79 billion, a PE ratio of -40.97 and a beta of 0.54.

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 return on equity of 57.50% and a negative net margin of 41.84%.The firm had revenue of $42.34 million for the quarter, compared to analyst estimates of $42.48 million. Equities research analysts predict that Sigma Lithium will post 1.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sigma Lithium

Several hedge funds and other institutional investors have recently modified their holdings of SGML. Farther Finance Advisors LLC acquired a new position in shares of Sigma Lithium in the 4th quarter valued at about $51,000. GF Fund Management CO. LTD. acquired a new position in shares of Sigma Lithium in the 4th quarter valued at about $57,000. BTG Pactual Asset Management US LLC acquired a new position in shares of Sigma Lithium in the 3rd quarter valued at about $71,000. Quantbot Technologies LP acquired a new position in shares of Sigma Lithium in the 3rd quarter valued at about $82,000. Finally, Nebula Research & Development LLC acquired a new position in shares of Sigma Lithium in the 2nd quarter valued at about $87,000. 64.86% of the stock is owned by institutional investors and hedge funds.

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.