Alliancebernstein L.P. Boosts Stake in Sigma Lithium Co. (NASDAQ:SGML)

Alliancebernstein L.P. increased its holdings in Sigma Lithium Co. (NASDAQ:SGML) by 10.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,390 shares of the company’s stock after purchasing an additional 1,710 shares during the quarter. Alliancebernstein L.P.’s holdings in Sigma Lithium were worth $195,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Sigma Lithium during the 4th quarter valued at approximately $28,050,000. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of Sigma Lithium by 203.6% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,183,675 shares of the company’s stock valued at $24,501,000 after purchasing an additional 1,464,475 shares during the period. State Street Corp purchased a new stake in shares of Sigma Lithium during the third quarter worth about $1,831,000. Bank of New York Mellon Corp acquired a new position in shares of Sigma Lithium during the 4th quarter worth about $728,000. Finally, American Century Companies Inc. purchased a new position in Sigma Lithium in the 4th quarter valued at about $408,000. Hedge funds and other institutional investors own 64.86% of the company’s stock.

Sigma Lithium Stock Performance

NASDAQ:SGML opened at $7.00 on Tuesday. Sigma Lithium Co. has a twelve month low of $6.76 and a twelve month high of $19.20. The company has a market cap of $778.95 million, a P/E ratio of -14.58 and a beta of 0.26. 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 company’s 50-day moving average price is $10.33 and its 200-day moving average price is $11.77.

Sigma Lithium (NASDAQ:SGML) last issued 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 return on equity of 38.04% and a negative net margin of 36.85%. The company had revenue of $46.70 million for the quarter, compared to analyst estimates of $71.77 million. On average, sell-side analysts forecast that Sigma Lithium Co. will post -0.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Bank of America cut their price objective on Sigma Lithium from $25.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th.

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.