Sigma Lithium (NASDAQ:SGML) Stock Price Down 8.3% – Here’s What Happened

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 changed hands during 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 decreased their target price on Sigma Lithium from $25.00 to $20.00 and set an “outperform” rating for the company in a research report on Monday, August 19th.

Sigma Lithium Stock Performance

The firm has a market capitalization of $1.46 billion, a P/E ratio of 145.00 and a beta of 0.16. The firm has a 50-day moving average price of $12.72 and a two-hundred day moving average price of $12.83. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.05 and a quick ratio of 0.96.

Sigma Lithium (NASDAQ:SGML) last released its earnings results on Thursday, August 15th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.23). Sigma Lithium had a return on equity of 6.18% and a net margin of 4.28%. The business had revenue of $45.94 million for the quarter, compared to the consensus estimate of $69.70 million. On average, analysts forecast that Sigma Lithium Co. will post 0.05 EPS for the current fiscal year.

Institutional Trading of Sigma Lithium

Institutional investors and hedge funds have recently made changes to their positions in the company. Point72 DIFC Ltd bought a new stake in shares of Sigma Lithium in the second quarter valued at about $48,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Sigma Lithium in the second quarter valued at about $107,000. Tidal Investments LLC raised its holdings in shares of Sigma Lithium by 65.9% in the first quarter. Tidal Investments LLC now owns 44,241 shares of the company’s stock valued at $573,000 after acquiring an additional 17,566 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Sigma Lithium in the second quarter valued at about $672,000. Finally, Perpetual Ltd bought a new stake in shares of Sigma Lithium in the third quarter valued at about $2,096,000. 64.86% of the stock is currently owned by institutional investors.

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.