Decade Renewable Partners LP Trims Stake in Sigma Lithium Co. (NASDAQ:SGML)

Decade Renewable Partners LP lessened its holdings in shares of Sigma Lithium Co. (NASDAQ:SGML) by 6.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 455,939 shares of the company’s stock after selling 30,374 shares during the quarter. Sigma Lithium comprises approximately 2.7% of Decade Renewable Partners LP’s portfolio, making the stock its 18th biggest holding. Decade Renewable Partners LP’s holdings in Sigma Lithium were worth $5,485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. PenderFund Capital Management Ltd. purchased a new position in Sigma Lithium during the fourth quarter valued at approximately $32,000. Point72 DIFC Ltd purchased a new position in shares of Sigma Lithium during the 2nd quarter valued at $48,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Sigma Lithium in the 2nd quarter worth $107,000. Tidal Investments LLC increased its stake in Sigma Lithium by 65.9% in the 1st quarter. Tidal Investments LLC now owns 44,241 shares of the company’s stock worth $573,000 after buying an additional 17,566 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its holdings in Sigma Lithium by 9.4% during the fourth quarter. 1832 Asset Management L.P. now owns 266,562 shares of the company’s stock valued at $8,405,000 after acquiring an additional 22,938 shares during the period. Institutional investors own 64.86% of the company’s stock.

Sigma Lithium Price Performance

Shares of NASDAQ:SGML opened at $11.84 on Thursday. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of -91.08 and a beta of 0.16. The firm has a fifty day moving average price of $10.51 and a 200 day moving average price of $12.86. Sigma Lithium Co. has a fifty-two week low of $8.47 and a fifty-two week high of $34.63. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.96 and a current ratio of 1.05.

Sigma Lithium (NASDAQ:SGML) last released its quarterly earnings data on Thursday, August 15th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.23). Sigma Lithium had a net margin of 4.28% and a return on equity of 6.18%. The company had revenue of $45.94 million for the quarter, compared to the consensus estimate of $69.70 million. As a group, sell-side analysts expect that Sigma Lithium Co. will post 0.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.