Atlas Lithium Co. (NASDAQ:ATLX) Short Interest Up 8.1% in October

Atlas Lithium Co. (NASDAQ:ATLXGet 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.

Check Out Our Latest Stock Report on ATLX

Hedge Funds Weigh In On Atlas Lithium

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. bought a new position in Atlas Lithium in the 3rd quarter worth approximately $3,864,000. Dorsey Wright & Associates bought a new position in Atlas Lithium in the 3rd quarter worth approximately $28,000. Canton Hathaway LLC bought a new position in Atlas Lithium in the 3rd quarter worth approximately $57,000. Barclays PLC bought a new position in Atlas Lithium in the 2nd quarter worth approximately $28,000. Finally, Polar Asset Management Partners Inc. bought a new position in Atlas Lithium in the 2nd quarter worth approximately $350,000. 2.96% of the stock is owned by institutional investors.

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:ATLXGet 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

(Get Free Report)

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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