Sigma Lithium (NASDAQ:SGML) Cut to “Strong Sell” at Zacks Research

Zacks Research downgraded shares of Sigma Lithium (NASDAQ:SGML) from a hold rating to a strong sell rating in a report released on Monday morning,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. Bank of America downgraded shares of Sigma Lithium from a “buy” rating to a “neutral” rating and set a $7.00 price target on the stock. in a report on Friday, October 24th. Cormark upgraded shares of Sigma Lithium to a “moderate buy” rating in a report on Thursday, August 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Sigma Lithium in a report on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of Sigma Lithium from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Sigma Lithium has an average rating of “Sell” and a consensus price target of $7.00.

Sigma Lithium Trading Up 3.1%

Sigma Lithium stock opened at $5.74 on Monday. The stock has a market capitalization of $639.21 million, a PE ratio of -13.05 and a beta of 0.08. Sigma Lithium has a 12-month low of $4.25 and a 12-month high of $14.85. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.60 and a quick ratio of 0.39. The firm has a 50 day simple moving average of $6.35 and a 200-day simple moving average of $6.19.

Sigma Lithium (NASDAQ:SGML) last issued its earnings results on Thursday, August 14th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.14). Sigma Lithium had a negative return on equity of 47.19% and a negative net margin of 35.69%.The business had revenue of $16.89 million for the quarter, compared to the consensus estimate of $50.44 million. As a group, equities research analysts expect that Sigma Lithium will post -0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new position in Sigma Lithium during the third quarter worth about $163,000. Perpetual Ltd bought a new position in Sigma Lithium during the third quarter worth about $1,185,000. Electron Capital Partners LLC increased its position in Sigma Lithium by 0.4% during the second quarter. Electron Capital Partners LLC now owns 1,067,947 shares of the company’s stock worth $4,806,000 after acquiring an additional 4,557 shares during the period. Engineers Gate Manager LP increased its position in Sigma Lithium by 252.7% during the second quarter. Engineers Gate Manager LP now owns 54,149 shares of the company’s stock worth $244,000 after acquiring an additional 38,795 shares during the period. Finally, BNP Paribas Financial Markets increased its position in Sigma Lithium by 15.9% during the second quarter. BNP Paribas Financial Markets now owns 21,897 shares of the company’s stock worth $99,000 after acquiring an additional 3,005 shares during the period. 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.