Sigma Lithium Co. (NASDAQ:SGML) Short Interest Update

Sigma Lithium Co. (NASDAQ:SGMLGet Rating) was the recipient of a significant increase in short interest during the month of May. As of May 15th, there was short interest totalling 355,800 shares, an increase of 23.3% from the April 30th total of 288,500 shares. Based on an average daily trading volume, of 367,800 shares, the short-interest ratio is currently 1.0 days. Approximately 0.4% of the company’s stock are sold short.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Waratah Capital Advisors Ltd. grew its position in Sigma Lithium by 21.9% during the first quarter. Waratah Capital Advisors Ltd. now owns 1,264,393 shares of the company’s stock valued at $17,301,000 after buying an additional 226,867 shares during the period. Potrero Capital Research LLC bought a new position in Sigma Lithium during the first quarter valued at about $11,466,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in Sigma Lithium during the fourth quarter valued at about $6,714,000. National Bank of Canada FI grew its position in Sigma Lithium by 4.3% during the first quarter. National Bank of Canada FI now owns 320,140 shares of the company’s stock valued at $4,302,000 after buying an additional 13,251 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in Sigma Lithium during the fourth quarter valued at about $1,024,000. Institutional investors own 6.58% of the company’s stock.

Shares of NASDAQ SGML traded down $1.94 during trading on Wednesday, hitting $14.72. The stock had a trading volume of 17,959 shares, compared to its average volume of 391,395. Sigma Lithium has a 12 month low of $4.60 and a 12 month high of $19.99. The firm has a fifty day moving average of $15.64 and a two-hundred day moving average of $12.11.

Sigma Lithium (NASDAQ:SGMLGet Rating) last posted its earnings results on Friday, April 1st. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.05). On average, research analysts anticipate that Sigma Lithium will post -0.07 EPS for the current fiscal year.

Several research analysts have weighed in on the stock. Canaccord Genuity Group upped their price objective on shares of Sigma Lithium from C$24.00 to C$25.00 and gave the stock a “buy” rating in a report on Wednesday, April 13th. Canaccord Genuity Group upped their price objective on shares of Sigma Lithium from $17.00 to $24.00 in a report on Wednesday, April 6th. Finally, Zacks Investment Research lowered shares of Sigma Lithium from a “buy” rating to a “hold” rating in a research note on Wednesday.

About Sigma Lithium (Get Rating)

Sigma Lithium Corporation engages in the exploration and development of lithium deposits in Brazil. It holds 100% interest in the Grota do Cirilo, Genipapo, Santa Clara, and São José properties comprising 27 mineral rights covering an area of approximately 191 square kilometers located in the Araçuaí and Itinga regions of the state of Minas Gerais, Brazil.

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