Atlas Lithium (NASDAQ:ATLX) PT Lowered to $55.00

Atlas Lithium (NASDAQ:ATLX) had its target price cut by equities researchers at Alliance Global Partners from $75.00 to $55.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Alliance Global Partners’ price objective indicates a potential upside of 190.70% from the company’s current price.

ATLX has been the subject of several other reports. HC Wainwright decreased their target price on Atlas Lithium from $52.00 to $40.00 and set a “buy” rating for the company in a research report on Monday. Roth Mkm decreased their price objective on Atlas Lithium from $39.00 to $36.00 and set a “buy” rating for the company in a report on Monday.

Atlas Lithium Stock Up 1.6 %

NASDAQ:ATLX opened at $18.92 on Tuesday. Atlas Lithium has a twelve month low of $11.80 and a twelve month high of $45.00. The company has a market cap of $241.61 million, a price-to-earnings ratio of -4.66 and a beta of -1.14. The stock has a fifty day simple moving average of $17.26 and a 200-day simple moving average of $23.30. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 1.04.

Institutional Trading of Atlas Lithium

Several institutional investors and hedge funds have recently made changes to their positions in ATLX. Waratah Capital Advisors Ltd. bought a new stake in shares of Atlas Lithium in the second quarter valued at about $8,525,000. Invesco Ltd. bought a new stake in shares of Atlas Lithium in the third quarter valued at about $3,864,000. BlackRock Inc. bought a new stake in shares of Atlas Lithium in the second quarter valued at about $721,000. ExodusPoint Capital Management LP purchased a new position in Atlas Lithium in the second quarter valued at about $567,000. Finally, Polar Asset Management Partners Inc. purchased a new position in Atlas Lithium in the second quarter valued at about $350,000. 18.35% of the stock is currently owned by institutional investors.

About Atlas Lithium

Atlas Lithium Corporation operates as a mineral exploration and mining 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.