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

Atlas Lithium Co. (NASDAQ:ATLXGet Free Report) was the target of a significant growth in short interest in May. As of May 15th, there was short interest totalling 277,700 shares, a growth of 74.8% from the April 30th total of 158,900 shares. Based on an average trading volume of 94,100 shares, the days-to-cover ratio is currently 3.0 days. Currently, 4.0% of the shares of the stock are short sold.

Atlas Lithium Trading Down 1.1 %

Shares of ATLX stock traded down $0.17 during trading hours on Wednesday, reaching $15.20. The company had a trading volume of 3,529 shares, compared to its average volume of 82,047. 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 has a twelve month low of $11.80 and a twelve month high of $34.00. The stock’s fifty day simple moving average is $15.58 and its 200 day simple moving average is $20.49.

Atlas Lithium (NASDAQ:ATLXGet Free Report) last released its quarterly earnings results on Wednesday, March 27th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.88). Equities analysts forecast that Atlas Lithium will post -2 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ATLX. Dorsey Wright & Associates acquired a new stake in shares of Atlas Lithium in the 3rd quarter valued at about $28,000. Tower Research Capital LLC TRC acquired a new position in shares of Atlas Lithium in the 4th quarter worth approximately $33,000. Finally, Cross Staff Investments Inc increased its holdings in shares of Atlas Lithium by 1.1% in the 4th quarter. Cross Staff Investments Inc now owns 215,612 shares of the company’s stock valued at $6,744,000 after acquiring an additional 2,400 shares during the last quarter. 18.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Roth Mkm decreased their target price on shares of Atlas Lithium from $39.00 to $36.00 and set a “buy” rating on the stock in a research report on Monday, April 1st. Alliance Global Partners decreased their price objective on Atlas Lithium from $75.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd. Finally, HC Wainwright lowered their price objective on Atlas Lithium from $52.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, April 1st.

View Our Latest Report on ATLX

About Atlas Lithium

(Get Free Report)

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.

Further Reading

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