Sigma Lithium (NASDAQ:SGML) Shares Down 8.3% – Should You Sell?

Sigma Lithium Co. (NASDAQ:SGML) shares traded down 8.3% on Thursday . The company traded as low as $13.21 and last traded at $13.24. 607,922 shares changed hands during mid-day trading, a decline of 40% from the average session volume of 1,010,430 shares. The stock had previously closed at $14.44.

Analysts Set New Price Targets

Separately, BMO Capital Markets reduced their price objective on shares of Sigma Lithium from $25.00 to $20.00 and set an “outperform” rating on the stock in a report on Monday, August 19th.

Sigma Lithium Price Performance

The company’s 50 day moving average is $12.87 and its 200 day moving average is $12.81. The company has a current ratio of 1.05, a quick ratio of 0.96 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 143.78 and a beta of 0.16.

Sigma Lithium (NASDAQ:SGML) last announced its quarterly earnings results on Thursday, August 15th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.23). Sigma Lithium had a return on equity of 6.18% and a net margin of 4.28%. The company had revenue of $45.94 million for the quarter, compared to analyst estimates of $69.70 million. Research analysts anticipate that Sigma Lithium Co. will post 0.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its position in Sigma Lithium by 8.4% during the 3rd quarter. Geode Capital Management LLC now owns 117,125 shares of the company’s stock worth $1,448,000 after purchasing an additional 9,049 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in Sigma Lithium during the 3rd quarter worth $122,000. Y Intercept Hong Kong Ltd purchased a new position in Sigma Lithium during the 3rd quarter worth $299,000. State Street Corp purchased a new stake in shares of Sigma Lithium in the third quarter valued at about $1,831,000. Finally, Polar Asset Management Partners Inc. boosted its holdings in shares of Sigma Lithium by 22.0% in the third quarter. Polar Asset Management Partners Inc. now owns 246,500 shares of the company’s stock valued at $3,047,000 after acquiring an additional 44,400 shares in the last quarter. 64.86% of the stock is owned by hedge funds and other 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.