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

Atlas Lithium Co. (NASDAQ:ATLX) was the target of a large increase in short interest during the month of July. As of July 31st, there was short interest totalling 394,900 shares, an increase of 19.3% from the July 15th total of 331,000 shares. Based on an average daily volume of 76,400 shares, the short-interest ratio is presently 5.2 days. Currently, 5.9% of the shares of the stock are sold short.

Atlas Lithium Trading Up 1.6 %

ATLX stock traded up $0.15 during mid-day trading on Friday, reaching $9.50. The company’s stock had a trading volume of 50,324 shares, compared to its average volume of 81,049. The company has a current ratio of 2.76, a quick ratio of 2.75 and a debt-to-equity ratio of 3.74. Atlas Lithium has a 12 month low of $8.37 and a 12 month high of $34.00. The business’s 50 day moving average price is $10.72 and its 200 day moving average price is $14.20. The company has a market cap of $140.62 million, a price-to-earnings ratio of -2.00 and a beta of -0.73.

Atlas Lithium (NASDAQ:ATLX) last issued its earnings results on Wednesday, May 15th. The company reported ($1.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.56). The company had revenue of $0.19 million during the quarter. On average, equities research analysts predict that Atlas Lithium will post -2.93 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Atlas Lithium stock. Tower Research Capital LLC TRC purchased a new stake in shares of Atlas Lithium Co. (NASDAQ:ATLX) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,061 shares of the company’s stock, valued at approximately $33,000. 18.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ATLX. HC Wainwright raised their price objective on Atlas Lithium from $40.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Roth Mkm cut their price target on shares of Atlas Lithium from $36.00 to $25.50 and set a “buy” rating on the stock in a report on Friday, July 26th.

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.