Sigma Lithium Target of Unusually Large Options Trading (NASDAQ:SGML)

Sigma Lithium Co. (NASDAQ:SGML) was the target of some unusual options trading activity on Friday. Stock investors acquired 2,598 put options on the stock. This represents an increase of 99% compared to the average volume of 1,306 put options.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets dropped their price target on shares of Sigma Lithium from $25.00 to $20.00 and set an “outperform” rating for the company in a research report on Monday, August 19th.

Institutional Trading of Sigma Lithium

Several large investors have recently added to or reduced their stakes in the company. Point72 DIFC Ltd acquired a new position in shares of Sigma Lithium in the 2nd quarter worth approximately $48,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Sigma Lithium in the 2nd quarter valued at $107,000. Public Employees Retirement System of Ohio acquired a new position in Sigma Lithium in the third quarter worth $122,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Sigma Lithium during the third quarter worth $299,000. Finally, Tidal Investments LLC grew its holdings in shares of Sigma Lithium by 65.9% during the first quarter. Tidal Investments LLC now owns 44,241 shares of the company’s stock worth $573,000 after purchasing an additional 17,566 shares during the last quarter. 64.86% of the stock is owned by institutional investors.

Sigma Lithium Stock Performance

Shares of SGML stock opened at $12.94 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.05 and a debt-to-equity ratio of 0.02. The stock’s fifty day simple moving average is $12.87 and its 200 day simple moving average is $12.80. Sigma Lithium has a one year low of $8.47 and a one year high of $34.31.

Sigma Lithium (NASDAQ:SGML) last posted its earnings results on Thursday, August 15th. The company reported ($0.10) earnings per share 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 during the quarter, compared to the consensus estimate of $69.70 million. On average, equities analysts anticipate that Sigma Lithium will post 0.05 EPS for the current fiscal 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.