Sigma Lithium (NASDAQ:SGML) Trading Down 6.5% After Earnings Miss

Shares of Sigma Lithium Co. (NASDAQ:SGML) traded down 6.5% during trading on Monday following a weaker than expected earnings announcement. The stock traded as low as $10.39 and last traded at $10.76. 65,451 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 753,164 shares. The stock had previously closed at $11.50.

The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.12). Sigma Lithium had a negative return on equity of 38.04% and a negative net margin of 36.85%.

Wall Street Analyst Weigh In

Separately, Bank of America reduced their price target on Sigma Lithium from $25.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th.

Institutional Investors Weigh In On Sigma Lithium

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Aquatic Capital Management LLC bought a new stake in shares of Sigma Lithium during the 4th quarter valued at $27,000. Public Employees Retirement System of Ohio acquired a new stake in Sigma Lithium during the third quarter worth about $122,000. U S Global Investors Inc. raised its position in shares of Sigma Lithium by 233.3% in the 4th quarter. U S Global Investors Inc. now owns 10,000 shares of the company’s stock valued at $112,000 after buying an additional 7,000 shares in the last quarter. Pictet Asset Management Holding SA acquired a new stake in shares of Sigma Lithium during the 4th quarter worth approximately $142,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Sigma Lithium during the 4th quarter worth approximately $150,000. Institutional investors and hedge funds own 64.86% of the company’s stock.

Sigma Lithium Trading Down 6.9 %

The firm’s 50-day simple moving average is $11.35 and its 200 day simple moving average is $12.24. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of -22.21 and a beta of 0.21. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.84 and a quick ratio of 0.72.

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.