Sigma Lithium (NASDAQ:SGML) Trading Up 10% - Here's Why

Sigma Lithium Co. (NASDAQ:SGML - Get Free Report) shares traded up 10% on Tuesday . The stock traded as high as $7.70 and last traded at $7.70. 664,788 shares changed hands during trading, a decline of 12% from the average session volume of 757,880 shares. The stock had previously closed at $7.00.

Analyst Upgrades and Downgrades

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

Sigma Lithium Price Performance

The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.72 and a current ratio of 0.84. The company has a fifty day moving average price of $10.12 and a two-hundred day moving average price of $11.68. The company has a market cap of $920.17 million, a P/E ratio of -17.26 and a beta of 0.26.

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

Institutional Investors Weigh In On Sigma Lithium

A number of institutional investors and hedge funds have recently modified their holdings of the company. Aquatic Capital Management LLC acquired a new position in Sigma Lithium during the fourth quarter worth approximately $27,000. U S Global Investors Inc. boosted its stake in shares of Sigma Lithium by 233.3% during the 4th quarter. U S Global Investors Inc. now owns 10,000 shares of the company's stock worth $112,000 after acquiring an additional 7,000 shares during the period. GAMMA Investing LLC acquired a new position in shares of Sigma Lithium during the 1st quarter worth approximately $139,000. Pictet Asset Management Holding SA acquired a new position in shares of Sigma Lithium during the 4th quarter worth approximately $142,000. Finally, Squarepoint Ops LLC bought a new stake in Sigma Lithium in the 4th quarter valued at $150,000. 64.86% of the stock is 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.