Atlas Lithium Co. (NASDAQ:ATLX) Short Interest Down 18.4% in August

Atlas Lithium Co. (NASDAQ:ATLX) saw a significant drop in short interest in the month of August. As of August 15th, there was short interest totalling 322,300 shares, a drop of 18.4% from the July 31st total of 394,900 shares. Currently, 4.7% of the shares of the stock are short sold. Based on an average daily volume of 73,200 shares, the short-interest ratio is currently 4.4 days.

Hedge Funds Weigh In On Atlas Lithium

A hedge fund recently bought a new stake in Atlas Lithium stock. Tower Research Capital LLC TRC bought a new position in Atlas Lithium Co. (NASDAQ:ATLX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,061 shares of the company’s stock, valued at approximately $33,000. 18.35% of the stock is currently owned by institutional investors.

Atlas Lithium Trading Up 2.2 %

Shares of Atlas Lithium stock traded up $0.22 during midday trading on Friday, reaching $10.37. The company had a trading volume of 19,349 shares, compared to its average volume of 78,434. The stock has a fifty day moving average price of $10.75 and a 200 day moving average price of $13.51. The company has a debt-to-equity ratio of 3.74, a current ratio of 2.76 and a quick ratio of 2.75. The firm has a market cap of $153.50 million, a PE ratio of -2.18 and a beta of -0.73. Atlas Lithium has a fifty-two week low of $8.37 and a fifty-two week high of $34.00.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ATLX. Roth Mkm reduced their price objective on Atlas Lithium from $36.00 to $25.50 and set a “buy” rating on the stock in a research note on Friday, July 26th. HC Wainwright raised their price objective on Atlas Lithium from $40.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th.

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.