Atlas Lithium Co. (NASDAQ:ATLX) Short Interest Down 7.8% in October

Atlas Lithium Co. (NASDAQ:ATLX) was the target of a significant decrease in short interest in the month of October. As of October 15th, there was short interest totalling 467,700 shares, a decrease of 7.8% from the September 30th total of 507,400 shares. Approximately 6.4% of the company’s shares are short sold. Based on an average daily trading volume, of 96,700 shares, the short-interest ratio is presently 4.8 days.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. HC Wainwright reaffirmed a “buy” rating and set a $19.00 target price on shares of Atlas Lithium in a report on Tuesday. Roth Mkm reduced their price target on Atlas Lithium from $36.00 to $25.50 and set a “buy” rating on the stock in a research report on Friday, July 26th.

Atlas Lithium Stock Down 0.3 %

Shares of NASDAQ ATLX opened at $10.22 on Wednesday. Atlas Lithium has a 52-week low of $6.25 and a 52-week high of $34.00. The company has a debt-to-equity ratio of 0.36, a quick ratio of 6.15 and a current ratio of 6.18. The stock has a market cap of $151.20 million, a P/E ratio of -2.15 and a beta of -0.80. The firm has a 50 day moving average price of $8.59 and a 200 day moving average price of $11.14.

Atlas Lithium (NASDAQ:ATLX) last posted its earnings results on Friday, August 9th. The company reported ($0.85) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.15). The business had revenue of $0.18 million during the quarter. Analysts expect that Atlas Lithium will post -2.86 EPS for the current year.

Hedge Funds Weigh In On Atlas Lithium

An institutional investor recently raised its position in Atlas Lithium stock. Cross Staff Investments Inc grew its stake in Atlas Lithium Co. (NASDAQ:ATLX) by 71.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 364,804 shares of the company’s stock after buying an additional 152,342 shares during the quarter. Atlas Lithium accounts for about 1.9% of Cross Staff Investments Inc’s investment portfolio, making the stock its 9th biggest holding. Cross Staff Investments Inc owned about 2.46% of Atlas Lithium worth $2,481,000 as of its most recent filing with the Securities & Exchange Commission. 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.