Pinpoint Asset Management Ltd Takes Position in Sigma Lithium Co. (NASDAQ:SGML)

Pinpoint Asset Management Ltd bought a new position in shares of Sigma Lithium Co. (NASDAQ:SGML - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 66,017 shares of the company's stock, valued at approximately $741,000. Pinpoint Asset Management Ltd owned approximately 0.06% of Sigma Lithium at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Public Employees Retirement System of Ohio bought a new stake in Sigma Lithium during the 3rd quarter worth about $122,000. U S Global Investors Inc. increased its position in shares of Sigma Lithium by 233.3% in the fourth quarter. U S Global Investors Inc. now owns 10,000 shares of the company's stock valued at $112,000 after acquiring an additional 7,000 shares during the last quarter. Pictet Asset Management Holding SA bought a new stake in Sigma Lithium during the fourth quarter worth about $142,000. Handelsbanken Fonder AB acquired a new position in Sigma Lithium during the fourth quarter valued at approximately $160,000. Finally, Alliancebernstein L.P. grew its stake in Sigma Lithium by 10.9% in the fourth quarter. Alliancebernstein L.P. now owns 17,390 shares of the company's stock valued at $195,000 after purchasing an additional 1,710 shares in the last quarter. Institutional investors and hedge funds own 64.86% of the company's stock.

Analyst Ratings Changes

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

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Sigma Lithium Stock Performance

Sigma Lithium stock traded down $0.64 during trading hours on Tuesday, hitting $7.19. The company had a trading volume of 602,962 shares, compared to its average volume of 750,816. The firm has a 50-day moving average of $11.09 and a 200 day moving average of $12.17. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.84 and a quick ratio of 0.72. The firm has a market cap of $800.10 million, a PE ratio of -14.98 and a beta of 0.26. Sigma Lithium Co. has a one year low of $7.08 and a one year high of $19.20.

Sigma Lithium (NASDAQ:SGML - Get Free Report) last released its quarterly 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 firm 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%. On average, sell-side analysts expect that Sigma Lithium Co. will post -0.12 earnings per share for the current year.

Sigma Lithium 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.