Cannell & Spears LLC Invests $651,000 in Sigma Lithium Co. (NASDAQ:SGML)

Cannell & Spears LLC acquired a new position in Sigma Lithium Co. (NASDAQ:SGML) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 58,060 shares of the company’s stock, valued at approximately $651,000. Cannell & Spears LLC owned 0.05% of Sigma Lithium as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in SGML. U S Global Investors Inc. lifted its stake 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 purchasing an additional 7,000 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Sigma Lithium in the third quarter valued at about $122,000. Pictet Asset Management Holding SA purchased a new position in Sigma Lithium during the fourth quarter worth about $142,000. Handelsbanken Fonder AB purchased a new stake in shares of Sigma Lithium in the 4th quarter valued at approximately $160,000. Finally, Alliancebernstein L.P. lifted its holdings in shares of Sigma Lithium by 10.9% in the 4th quarter. Alliancebernstein L.P. now owns 17,390 shares of the company’s stock worth $195,000 after acquiring an additional 1,710 shares during the last quarter. 64.86% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Sigma Lithium Stock Performance

Shares of Sigma Lithium stock opened at $10.40 on Tuesday. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of -21.67 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. The business has a 50-day moving average of $11.32 and a 200 day moving average of $12.24. Sigma Lithium Co. has a 12 month low of $8.47 and a 12 month high of $19.20.

Sigma Lithium (NASDAQ:SGML) last posted its quarterly earnings data on Monday, March 31st. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.12). Sigma Lithium had a negative net margin of 36.85% and a negative return on equity of 38.04%. As a group, sell-side analysts forecast that Sigma Lithium Co. will post -0.12 earnings per share for the current year.

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.