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

Sigma Lithium Co. (NASDAQ:SGML) saw some unusual options trading on Monday. Traders acquired 7,936 call options on the company. This is an increase of approximately 163% compared to the typical volume of 3,012 call options.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. BMO Capital Markets reduced their target price on Sigma Lithium from $50.00 to $48.00 and set an “outperform” rating for the company in a report on Wednesday, September 6th. Bank of America reduced their target price on Sigma Lithium from $44.00 to $42.00 in a report on Sunday, September 3rd.

Hedge Funds Weigh In On Sigma Lithium

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Nucleo Capital LTDA. lifted its position in Sigma Lithium by 1.4% during the first quarter. Nucleo Capital LTDA. now owns 3,045,160 shares of the company’s stock valued at $114,559,000 after purchasing an additional 42,214 shares in the last quarter. Frontier Capital Management Co. LLC lifted its position in shares of Sigma Lithium by 44.6% in the second quarter. Frontier Capital Management Co. LLC now owns 1,542,175 shares of the company’s stock valued at $62,150,000 after acquiring an additional 475,794 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Sigma Lithium by 2.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 674,588 shares of the company’s stock valued at $25,883,000 after acquiring an additional 14,461 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of Sigma Lithium by 71.1% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 589,611 shares of the company’s stock valued at $23,740,000 after acquiring an additional 245,052 shares in the last quarter. Finally, SIR Capital Management L.P. lifted its position in shares of Sigma Lithium by 13.5% in the first quarter. SIR Capital Management L.P. now owns 485,846 shares of the company’s stock valued at $18,278,000 after acquiring an additional 57,900 shares in the last quarter. 19.26% of the stock is currently owned by hedge funds and other institutional investors.

Sigma Lithium Stock Performance

Shares of SGML traded up $1.09 during trading hours on Monday, hitting $38.79. The stock had a trading volume of 434,702 shares, compared to its average volume of 710,889. The firm has a market capitalization of $4.24 billion, a PE ratio of -32.22 and a beta of 0.36. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.16 and a quick ratio of 0.85. The stock has a fifty day moving average price of $35.56 and a 200 day moving average price of $36.81. Sigma Lithium has a 12 month low of $23.77 and a 12 month high of $43.18.

Sigma Lithium (NASDAQ:SGML) last released its earnings results on Thursday, August 10th. The company reported ($0.22) earnings per share for the quarter. Analysts anticipate that Sigma Lithium will post 2.74 EPS for the current year.

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.