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Sigma Lithium Corporation (NASDAQ: SGML) Stock Forecast 2022: Profitable With Bullish Signals

In the last trading session, 1.19 million shares of the Sigma Lithium Corporation (NASDAQ:SGML) were traded, and its beta was 0.35. Most recently the company’s…

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This article was originally published by The Marketing Sentinal

In the last trading session, 1.19 million shares of the Sigma Lithium Corporation (NASDAQ:SGML) were traded, and its beta was 0.35. Most recently the company’s share price was $29.81, and it changed around $1.79 or 6.39% from the last close, which brings the market valuation of the company to $3.99B. SGML currently trades at a discount to its 52-week high of $29.50, offering almost 1.04% off that amount. The share price’s 52-week low was $7.85, which indicates that the current value has risen by an impressive 73.67% since then. We note from Sigma Lithium Corporation’s average daily trading volume that its 10-day average is 0.77 million shares, with the 3-month average coming to 562.28K.

Sigma Lithium Corporation stock received a consensus recommendation rating of a Buy, based on a mean score of 1.50. If we narrow it down even further, the data shows that 0 out of 4 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 0 recommended SGML as a Hold, whereas 3 deemed it a Buy, and 0 rated it as Underweight. Sigma Lithium Corporation is expected to report earnings per share of -$0.01 for the current quarter.

Sigma Lithium Corporation (NASDAQ:SGML) trade information

Instantly SGML has showed a green trend with a performance of 6.39% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 30.49 on Tuesday, 10/04/22 increased the stock’s daily price by 2.23%. The company’s shares are currently up 186.36% year-to-date, but still up 19.05% over the last five days. On the other hand, Sigma Lithium Corporation (NASDAQ:SGML) is 33.14% up in the 30-day period. We can see from the shorts that 0.88 million shares have been sold at a short interest cover period of 1.99 day(s).

The consensus price target as assigned by Wall Street analysts is $43.78, which translates to bulls needing to increase their stock price by 31.91% from its current value. Analyst projections state that SGML is forecast to be at a low of $37.25 and a high of $48.86. In order for the stock price to hit the forecast high, the stock would need to plunge -63.9% from its current level, while the stock would need to crash -24.96% from its current level to reach the projected low.

Sigma Lithium Corporation (SGML) estimates and forecasts

Sigma Lithium Corporation share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 80.67 percent over the past six months and at a 25.81% annual growth rate that is well above the industry average of 11.20%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 4.30%.

SGML Dividends

Sigma Lithium Corporation’s next quarterly earnings report is expected to be released around November 17 and November 21.

Sigma Lithium Corporation (NASDAQ:SGML)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.80% of Sigma Lithium Corporation shares, and 59.11% of them are in the hands of institutional investors. The stock currently has a share float of 59.58%. Sigma Lithium Corporation stock is held by 45 institutions, with JGP Global Gestao de Recursos Ltda. being the largest institutional investor. By Mar 30, 2022, it held 2.27% of the shares, which is about 2.29 million shares worth $31.06 million.

Waratah Capital Advisors Ltd., with 1.26% or 1.26 million shares worth $17.18 million as of Mar 30, 2022, holds the second largest percentage of outstanding shares.

Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF and BlackRock Commodity Strategy Fd were the top two Mutual Funds as of Jun 29, 2022. The former held 0.78 million shares worth $11.96 million, making up 0.77% of all outstanding shares. On the other hand, BlackRock Commodity Strategy Fd held roughly 0.32 million shares worth around $5.28 million, which represents about 0.31% of the total shares outstanding.

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