Traders Buy High Volume of Put Options on Sigma Lithium (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 company. This is an increase of approximately 99% compared to the typical volume of 1,306 put options.

Hedge Funds Weigh In On Sigma Lithium

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 DIFC Ltd bought a new stake in shares of Sigma Lithium during the 2nd quarter valued at $48,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Sigma Lithium in the second quarter valued at about $107,000. Public Employees Retirement System of Ohio bought a new stake in Sigma Lithium in the third quarter valued at about $122,000. Y Intercept Hong Kong Ltd acquired a new position in Sigma Lithium in the third quarter valued at about $299,000. Finally, Tidal Investments LLC boosted its holdings in 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 buying an additional 17,566 shares during the last quarter. 64.86% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets reduced their price objective on Sigma Lithium from $25.00 to $20.00 and set an “outperform” rating on the stock in a report on Monday, August 19th.

Sigma Lithium Price Performance

Shares of SGML stock opened at $12.94 on Friday. Sigma Lithium has a 12 month low of $8.47 and a 12 month high of $34.31. The company has a current ratio of 1.05, a quick ratio of 0.96 and a debt-to-equity ratio of 0.02. The stock has a 50-day moving average price of $12.87 and a 200 day moving average price of $12.80.

Sigma Lithium (NASDAQ:SGML) last issued its quarterly earnings results on Thursday, August 15th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.23). The business had revenue of $45.94 million for the quarter, compared to analyst estimates of $69.70 million. Sigma Lithium had a return on equity of 6.18% and a net margin of 4.28%. As a group, analysts predict that Sigma Lithium will post 0.05 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.