Atlas Lithium Co. (NASDAQ:ATLX) Sees Significant Increase in Short Interest

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

Wall Street Analysts Forecast Growth

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

Atlas Lithium Stock Down 4.2 %

NASDAQ:ATLX traded down $0.27 on Monday, hitting $5.99. 110,324 shares of the company’s stock were exchanged, compared to its average volume of 94,105. The company has a market cap of $92.29 million, a P/E ratio of -1.45 and a beta of -1.37. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.54 and a quick ratio of 3.45. Atlas Lithium has a 52 week low of $5.71 and a 52 week high of $21.85. The firm has a 50-day moving average price of $6.86 and a 200-day moving average price of $8.27.

Atlas Lithium (NASDAQ:ATLX) last posted its earnings results on Friday, November 8th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.04). The firm had revenue of $0.17 million during the quarter. As a group, analysts expect that Atlas Lithium will post -2.79 EPS for the current fiscal year.

Institutional Trading of Atlas Lithium

An institutional investor recently raised its position in Atlas Lithium stock. Cross Staff Investments Inc grew its holdings in Atlas Lithium Co. (NASDAQ:ATLX) by 71.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (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 about 1.9% of Cross Staff Investments Inc’s portfolio, making the stock its 9th biggest position. Cross Staff Investments Inc owned approximately 2.46% of Atlas Lithium worth $2,481,000 at the end of the most recent quarter. Institutional investors and hedge funds own 18.35% of the company’s stock.

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.