Sigma Lithium Sees Unusually Large Options Volume (NASDAQ:SGML)

Sigma Lithium Co. (NASDAQ:SGML) saw unusually large options trading activity on Friday. Stock investors bought 2,598 put options on the company. This represents an increase of approximately 99% compared to the average volume of 1,306 put options.

Analyst Upgrades and Downgrades

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 research note on Monday, August 19th.

Sigma Lithium Price Performance

Shares of SGML opened at $12.94 on Friday. The business has a 50-day moving average of $12.87 and a 200-day moving average of $12.81. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.05 and a quick ratio of 0.96. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 143.78 and a beta of 0.16. Sigma Lithium has a 1 year low of $8.47 and a 1 year high of $34.31.

Sigma Lithium (NASDAQ:SGML) last released its quarterly earnings results on Thursday, August 15th. The company reported ($0.10) earnings per share (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 firm had revenue of $45.94 million for the quarter, compared to the consensus estimate of $69.70 million. As a group, equities research analysts anticipate that Sigma Lithium will post 0.05 earnings per share for the current year.

Hedge Funds Weigh In On Sigma Lithium

A number of hedge funds have recently bought and sold shares of SGML. 1832 Asset Management L.P. increased its holdings in Sigma Lithium by 43.3% in the first quarter. 1832 Asset Management L.P. now owns 382,000 shares of the company’s stock worth $4,951,000 after purchasing an additional 115,438 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Sigma Lithium in the 2nd quarter valued at $672,000. Perpetual Ltd acquired a new position in shares of Sigma Lithium during the 3rd quarter valued at $2,096,000. Fourth Sail Capital LP boosted its stake in Sigma Lithium by 1,572.2% during the second quarter. Fourth Sail Capital LP now owns 3,134,797 shares of the company’s stock worth $37,712,000 after acquiring an additional 2,947,331 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in Sigma Lithium by 16.9% in the second quarter. Millennium Management LLC now owns 1,243,579 shares of the company’s stock worth $14,960,000 after purchasing an additional 179,355 shares during the period. Institutional investors own 64.86% of the company’s stock.

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.