Short Interest in Atlas Lithium Co. (NASDAQ:ATLX) Increases By 29.4%

Atlas Lithium Co. (NASDAQ:ATLX) saw a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 507,400 shares, an increase of 29.4% from the September 15th total of 392,100 shares. Based on an average daily volume of 89,300 shares, the short-interest ratio is presently 5.7 days. Currently, 6.9% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. HC Wainwright reissued a “buy” rating and set a $19.00 price objective (down from $41.00) on shares of Atlas Lithium in a report on Thursday, October 3rd. Roth Mkm cut their price target on Atlas Lithium from $36.00 to $25.50 and set a “buy” rating for the company in a research note on Friday, July 26th.

Atlas Lithium Stock Performance

NASDAQ ATLX opened at $7.74 on Friday. The company’s 50 day moving average is $8.85 and its 200-day moving average is $11.93. The firm has a market cap of $114.57 million, a P/E ratio of -1.63 and a beta of -0.80. Atlas Lithium has a 12-month low of $6.25 and a 12-month high of $34.00. The company has a quick ratio of 6.15, a current ratio of 6.18 and a debt-to-equity ratio of 0.36.

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

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.