Sigma Lithium Corporation (NASDAQ:SGML) finished Friday with an addition of $0.35 to close at $32.44, an upside of 1.09 percent. An average of 1,307,420 shares of common stock have been traded in the last five days. There was a fall of -$2.30 in the past week, and it reached a new high 20 times over the past 12 months. The last 20 days have seen an average of 1,035,235 shares traded, while the 50-day average volume stands at 854,420.
SGML stock has increased by 8.17% in the last month. The company shares reached their 1-month lowest point of $29.44 on 08/30/23. With the stock rallying to its 52-week high on 06/13/23, shares of the company touched a low of $24.07 and a high of $43.18 in 52 weeks. It has reached a new high 16 times so far this year and achieved 14.95% or $4.22 in price. In spite of this, the price is down -24.87% from the 52-week high.
Financial Health
The quick ratio of Sigma Lithium Corporation for the three months ended June 29 was 0.77, and the current ratio was 1.16, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.69 and a total debt to equity ratio of 0.78 for the quarter ending June 29. Its gross profit as reported stood at -$5.32 million compared to revenue of $98.6 million.
Earnings Surprise
For the three-month period that ended June 29, Sigma Lithium Corporation had $1.06 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$97.44 million in the quarter, while revenues were grew 100.0%. The analyst consensus anticipated Sigma Lithium Corporation’s latest quarter earnings to come in at -$0.01 per share, but it turned out to be -$0.15, a -1,400.00% surprise. For the quarter, EBITDA amounted to -$33.81 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Sigma Lithium Corporation (SGML) price momentum. RSI 9-day as of the close on 29 September was 37.63%, suggesting the stock is Neutral, with historical volatility in this time frame at 23.41%.
As of today, SGML’s price is $32.97 -6.62% or -$2.30 from its 5-day moving average. SGML is currently trading +5.87% higher than its 20-day SMA and -14.02% lower than its 100-day SMA. However, the stock’s current price level is -14.70% below the SMA50 and +2.38% above the SMA200.
The stochastic %K and %D were 14.41% and 17.11%, respectively, and the average true range (ATR) was 1.89. With the 14-day stochastic at 16.28% and the average true range at 1.86, the RSI (14) stands at 41.86%. The stock has reached -2.03 on the 9-day MACD Oscillator while the 14-day reading was at -2.70.
Analyst Ratings
Canaccord Genuity upgraded Sigma Lithium Corporation (NASDAQ: SGML) to a a Buy rating in its most recent analyst report. Previously, the stock was rated as a Speculative buy. The consensus rating for Sigma Lithium Corporation (SGML) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell SGML, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 6 others rate it as a “buy”.
What is SGML’s price target for the next 12 months?
Analysts predict a range of price targets between $48.00 and $55.44, with a median target of $51.87. Taking a look at these predictions, the average price target given by analysts for Sigma Lithium Corporation (SGML) stock is $51.90.
