Atlas Lithium Co. (NASDAQ:ATLX) Short Interest Up 16.8% in August

Atlas Lithium Co. (NASDAQ:ATLX) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 376,400 shares, a growth of 16.8% from the August 15th total of 322,300 shares. Approximately 5.8% of the company’s shares are sold short. Based on an average daily trading volume, of 72,800 shares, the short-interest ratio is currently 5.2 days.

Analyst Ratings Changes

A number of analysts have commented on ATLX shares. HC Wainwright upped their price target on shares of Atlas Lithium from $40.00 to $41.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Roth Mkm dropped 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.

Atlas Lithium Stock Down 3.4 %

Shares of NASDAQ ATLX opened at $9.65 on Tuesday. The company has a quick ratio of 6.15, a current ratio of 6.18 and a debt-to-equity ratio of 0.36. The firm has a market cap of $142.84 million, a PE ratio of -2.03 and a beta of -0.76. The company’s fifty day simple moving average is $10.54 and its 200 day simple moving average is $12.88. Atlas Lithium has a 12-month low of $8.37 and a 12-month high of $34.00.

Atlas Lithium (NASDAQ:ATLX) last released its quarterly earnings data on Friday, August 9th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.15). The firm had revenue of $0.18 million for the quarter. As a group, sell-side analysts forecast that Atlas Lithium will post -2.93 earnings per share for the current fiscal year.

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.