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

Atlas Lithium Co. (NASDAQ:ATLX) was the target of a significant increase in short interest in January. As of January 15th, there was short interest totalling 613,000 shares, an increase of 11.9% from the December 31st total of 547,900 shares. Approximately 8.2% of the company’s stock are sold short. Based on an average daily trading volume, of 115,200 shares, the days-to-cover ratio is currently 5.3 days.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $19.00 target price on shares of Atlas Lithium in a report on Tuesday, October 29th.

Atlas Lithium Stock Performance

Shares of ATLX stock traded down $0.05 during mid-day trading on Friday, hitting $6.25. 91,769 shares of the stock were exchanged, compared to its average volume of 81,164. The stock’s fifty day simple moving average is $6.86 and its two-hundred day simple moving average is $8.33. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.45 and a current ratio of 3.54. Atlas Lithium has a 12-month low of $6.07 and a 12-month high of $23.76. The stock has a market capitalization of $96.38 million, a price-to-earnings ratio of -1.53 and a beta of -1.36.

Atlas Lithium (NASDAQ:ATLX) last released its quarterly earnings results on Friday, November 8th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.04). The company had revenue of $0.17 million during the quarter. On average, analysts forecast that Atlas Lithium will post -2.79 EPS for the current year.

Institutional Trading of 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 71.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 364,804 shares of the company’s stock after purchasing an additional 152,342 shares during the quarter. Atlas Lithium comprises approximately 1.9% of Cross Staff Investments Inc’s portfolio, making the stock its 9th largest holding. Cross Staff Investments Inc owned about 2.46% of Atlas Lithium worth $2,481,000 as of its most recent SEC filing. 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.