Cannell & Spears LLC Invests $651,000 in Sigma Lithium Co. (NASDAQ:SGML)

Cannell & Spears LLC acquired a new position in shares of Sigma Lithium Co. (NASDAQ:SGML - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 58,060 shares of the company's stock, valued at approximately $651,000. Cannell & Spears LLC owned approximately 0.05% of Sigma Lithium at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. U S Global Investors Inc. increased its holdings in Sigma Lithium by 233.3% during the 4th quarter. U S Global Investors Inc. now owns 10,000 shares of the company's stock valued at $112,000 after purchasing an additional 7,000 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Sigma Lithium during the third quarter worth $122,000. Pictet Asset Management Holding SA acquired a new stake in shares of Sigma Lithium in the fourth quarter valued at $142,000. Handelsbanken Fonder AB bought a new position in shares of Sigma Lithium in the fourth quarter valued at about $160,000. Finally, Alliancebernstein L.P. lifted its position in Sigma Lithium by 10.9% during the 4th quarter. Alliancebernstein L.P. now owns 17,390 shares of the company's stock worth $195,000 after buying an additional 1,710 shares in the last quarter. Institutional investors own 64.86% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Bank of America dropped their target price on shares of Sigma Lithium from $25.00 to $16.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th.

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Sigma Lithium Trading Down 14.7 %

Shares of SGML traded down $1.31 during trading hours on Friday, hitting $7.63. 1,985,282 shares of the stock traded hands, compared to its average volume of 747,788. The business has a fifty day moving average of $11.15 and a 200-day moving average of $12.18. The company has a current ratio of 0.84, a quick ratio of 0.72 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $849.06 million, a PE ratio of -15.90 and a beta of 0.26. Sigma Lithium Co. has a 1-year low of $7.43 and a 1-year high of $19.20.

Sigma Lithium (NASDAQ:SGML - Get Free Report) last issued its earnings results on Monday, March 31st. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.14). The business had revenue of $46.70 million during the quarter, compared to the consensus estimate of $71.77 million. Sigma Lithium had a negative net margin of 36.85% and a negative return on equity of 38.04%. Analysts expect that Sigma Lithium Co. will post -0.12 EPS for the current year.

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.