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

Atlas Lithium Co. (NASDAQ:ATLX) was the recipient of a significant growth in short interest during the month of July. As of July 15th, there was short interest totalling 331,000 shares, a growth of 25.5% from the June 30th total of 263,800 shares. Based on an average daily trading volume, of 77,500 shares, the short-interest ratio is currently 4.3 days. Approximately 4.9% of the company’s stock are short sold.

Hedge Funds Weigh In On Atlas Lithium

An institutional investor recently bought a new position in Atlas Lithium stock. Tower Research Capital LLC TRC acquired a new position in shares of Atlas Lithium Co. (NASDAQ:ATLX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,061 shares of the company’s stock, valued at approximately $33,000. Institutional investors own 18.35% of the company’s stock.

Atlas Lithium Stock Performance

Shares of Atlas Lithium stock traded down $0.17 during midday trading on Monday, hitting $11.22. The company had a trading volume of 47,656 shares, compared to its average volume of 84,726. Atlas Lithium has a 1-year low of $9.30 and a 1-year high of $34.00. The business’s 50 day simple moving average is $12.32 and its two-hundred day simple moving average is $15.63. The stock has a market cap of $166.06 million, a PE ratio of -2.38 and a beta of -0.72. 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 (NASDAQ:ATLX) last posted its quarterly earnings results on Wednesday, May 15th. The company reported ($1.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.73) by ($0.56). The business had revenue of $0.19 million for the quarter. As a group, equities analysts predict that Atlas Lithium will post -2.35 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on ATLX. Alliance Global Partners decreased their price target 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. Roth Mkm decreased their price target on shares of Atlas Lithium from $36.00 to $25.50 and set a “buy” rating for the company in a report on Friday. Finally, HC Wainwright lifted their price objective on Atlas Lithium from $40.00 to $41.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th.

About Atlas Lithium

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.