Atlas Lithium Co. (NASDAQ:ATLX – Get Free Report) saw a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 217,600 shares, a growth of 8.1% from the October 15th total of 201,300 shares. Approximately 3.8% of the shares of the company are short sold. Based on an average daily volume of 64,900 shares, the days-to-cover ratio is presently 3.4 days.
Wall Street Analysts Forecast Growth
Separately, HC Wainwright lowered their target price on Atlas Lithium from $56.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, September 21st. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Atlas Lithium presently has a consensus rating of “Buy” and a consensus price target of $39.25.
Hedge Funds Weigh In On Atlas Lithium
Atlas Lithium Stock Up 3.7 %
NASDAQ:ATLX opened at $23.72 on Friday. The stock has a 50 day moving average of $25.34 and a 200-day moving average of $23.85. Atlas Lithium has a 52 week low of $5.70 and a 52 week high of $45.00.
Atlas Lithium (NASDAQ:ATLX – Get Free Report) last issued its quarterly earnings data on Friday, October 20th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.83). As a group, sell-side analysts anticipate that Atlas Lithium will post -2.27 earnings per share for the current fiscal year.
Atlas Lithium Company Profile
Atlas Lithium Corporation operates as a mineral exploration and mining company in Brazil. It operates Minas Gerais Lithium Project, which consists of 57 mineral rights covering an area of 58,774 acres and located in northeastern Minas Gerais in Brazil; and Northeastern Brazil Lithium Project, which consists of 7 mineral rights covering an area of 16,266 acres, which is located in the States of Paraíba and Rio Grande do Norte in northeastern Brazil.
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