Sigma Lithium (NASDAQ:SGML) Sets New 12-Month Low – Should You Sell?

Sigma Lithium Co. (NASDAQ:SGML)’s share price reached a new 52-week low on Friday . The company traded as low as $7.43 and last traded at $7.72, with a volume of 613829 shares trading hands. The stock had previously closed at $8.94.

Wall Street Analysts Forecast Growth

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

Sigma Lithium Stock Performance

The stock has a market capitalization of $849.06 million, a P/E ratio of -15.90 and a beta of 0.26. The stock has a 50 day simple moving average of $11.15 and a two-hundred day simple moving average of $12.18. The company has a quick ratio of 0.72, a current ratio of 0.84 and a debt-to-equity ratio of 0.02.

Sigma Lithium (NASDAQ:SGML) last released its earnings results on Monday, March 31st. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.14). The firm had revenue of $46.70 million during the quarter, compared to the consensus estimate of $71.77 million. Sigma Lithium had a negative net margin of 36.85% and a negative return on equity of 38.04%. On average, equities analysts forecast that Sigma Lithium Co. will post -0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Sigma Lithium by 203.6% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,183,675 shares of the company’s stock valued at $24,501,000 after purchasing an additional 1,464,475 shares during the last quarter. State Street Corp acquired a new stake in shares of Sigma Lithium during the 3rd quarter worth about $1,831,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Sigma Lithium by 848.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 354,625 shares of the company’s stock worth $4,388,000 after buying an additional 317,225 shares during the period. Handelsbanken Fonder AB acquired a new position in Sigma Lithium in the 4th quarter valued at about $160,000. Finally, Geode Capital Management LLC raised its holdings in Sigma Lithium by 8.4% in the 3rd quarter. Geode Capital Management LLC now owns 117,125 shares of the company’s stock valued at $1,448,000 after acquiring an additional 9,049 shares during the period. 64.86% of the stock is currently 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.