Atlas Lithium Co. (NASDAQ:ATLX) Short Interest Update

Atlas Lithium Co. (NASDAQ:ATLX) was the recipient of a significant growth in short interest in June. As of June 15th, there was short interest totalling 227,100 shares, a growth of 17.4% from the May 31st total of 193,500 shares. Based on an average trading volume of 99,400 shares, the days-to-cover ratio is presently 2.3 days. Approximately 3.2% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

ATLX has been the subject of a number of recent analyst reports. Roth Mkm dropped their target price on shares of Atlas Lithium from $39.00 to $36.00 and set a “buy” rating for the company in a research report on Monday, April 1st. HC Wainwright cut their target price on shares of Atlas Lithium from $52.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, April 1st. Finally, Alliance Global Partners decreased their price objective on Atlas Lithium from $75.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, April 2nd.

Atlas Lithium Trading Down 6.0 %

Shares of Atlas Lithium stock traded down $0.70 during trading hours on Tuesday, hitting $10.93. The company’s stock had a trading volume of 72,596 shares, compared to its average volume of 88,346. The company has a debt-to-equity ratio of 3.74, a current ratio of 2.76 and a quick ratio of 2.75. Atlas Lithium has a 12 month low of $9.30 and a 12 month high of $34.00. The stock has a 50 day moving average of $13.47 and a 200 day moving average of $17.95. The company has a market capitalization of $161.76 million, a PE ratio of -2.30 and a beta of -0.72.

Atlas Lithium (NASDAQ:ATLX) last posted its quarterly earnings data on Wednesday, May 15th. The company reported ($1.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.56). The company had revenue of $0.19 million during the quarter. Analysts predict that Atlas Lithium will post -2 earnings per share for the current year.

Institutional Investors Weigh In On Atlas Lithium

An institutional investor recently raised its position in Atlas Lithium stock. Cross Staff Investments Inc raised its holdings in Atlas Lithium Co. (NASDAQ:ATLX) by 1.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 215,612 shares of the company’s stock after buying an additional 2,400 shares during the period. Atlas Lithium comprises approximately 6.0% of Cross Staff Investments Inc’s investment portfolio, making the stock its 2nd biggest holding. Cross Staff Investments Inc owned approximately 2.00% of Atlas Lithium worth $6,744,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 18.35% of the company’s stock.

Atlas Lithium Company Profile

Atlas Lithium Corporation operates as a mineral exploration and development company in Brazil. It operates the Minas Gerais lithium project that consists of 54 mineral rights covering an area of 59,275 acres located within the Brazilian Eastern Pegmatitic Province; and Northeastern Brazil lithium project, which consists of 7 mineral rights covering an area of 16,266 acres in the States of Paraíba and Rio Grande do Norte in northeastern Brazil.