Sigma Lithium Target of Unusually High Options Trading (NASDAQ:SGML)

Sigma Lithium Corporation (NASDAQ:SGML) was the target of unusually large options trading activity on Monday. Stock traders bought 10,999 call options on the company. This is an increase of approximately 130% compared to the typical volume of 4,792 call options.

Sigma Lithium Stock Up 32.3%

NASDAQ SGML opened at $8.02 on Tuesday. Sigma Lithium has a 12 month low of $4.25 and a 12 month high of $14.71. The company has a current ratio of 0.60, a quick ratio of 0.39 and a debt-to-equity ratio of 1.26. The stock has a market cap of $893.27 million, a PE ratio of -25.87 and a beta of 0.08. The stock’s 50 day moving average is $6.24 and its 200 day moving average is $6.00.

Sigma Lithium (NASDAQ:SGML) last announced its quarterly earnings data on Friday, November 14th. The company reported ($0.10) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.10). Sigma Lithium had a negative net margin of 24.13% and a negative return on equity of 34.64%. The business had revenue of $28.55 million during the quarter, compared to analyst estimates of $70.54 million. Research analysts predict that Sigma Lithium will post -0.12 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SGML shares. Wall Street Zen cut shares of Sigma Lithium from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Zacks Research cut Sigma Lithium from a “hold” rating to a “strong sell” rating in a research report on Monday, October 27th. Cormark raised Sigma Lithium to a “moderate buy” rating in a research report on Thursday, August 21st. Bank of America downgraded shares of Sigma Lithium from a “buy” rating to a “neutral” rating and set a $7.00 target price for the company. in a research note on Friday, October 24th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Sigma Lithium in a report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Sell” and a consensus target price of $7.00.

Hedge Funds Weigh In On Sigma Lithium

Several institutional investors have recently bought and sold shares of the stock. Van ECK Associates Corp grew its position in shares of Sigma Lithium by 142.8% during the third quarter. Van ECK Associates Corp now owns 4,606,668 shares of the company’s stock valued at $29,529,000 after purchasing an additional 2,709,397 shares in the last quarter. Norges Bank purchased a new stake in shares of Sigma Lithium in the second quarter worth about $11,250,000. Woodline Partners LP boosted its stake in Sigma Lithium by 65.6% during the first quarter. Woodline Partners LP now owns 2,678,444 shares of the company’s stock valued at $27,856,000 after buying an additional 1,060,771 shares during the last quarter. CenterBook Partners LP grew its holdings in Sigma Lithium by 416.8% during the 2nd quarter. CenterBook Partners LP now owns 816,515 shares of the company’s stock valued at $3,674,000 after buying an additional 658,533 shares in the last quarter. Finally, Handelsbanken Fonder AB purchased a new position in Sigma Lithium during the 3rd quarter valued at approximately $4,130,000. 64.86% of the stock is owned by hedge funds and other institutional investors.

About Sigma Lithium

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.