Atlas Lithium Co. (NASDAQ:ATLX) Sees Large Decrease in Short Interest

Atlas Lithium Co. (NASDAQ:ATLX) was the target of a large decrease in short interest during the month of April. As of April 15th, there was short interest totalling 168,900 shares, a decrease of 39.5% from the March 31st total of 279,200 shares. Based on an average trading volume of 96,400 shares, the short-interest ratio is currently 1.8 days. Currently, 3.9% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

ATLX has been the subject of a number of research analyst reports. Alliance Global Partners dropped their target price on shares of Atlas Lithium from $75.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, April 2nd. HC Wainwright dropped their target price on Atlas Lithium from $52.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, April 1st. Finally, Roth Mkm dropped their price target on Atlas Lithium from $39.00 to $36.00 and set a “buy” rating on the stock in a research note on Monday, April 1st.

Institutional Investors Weigh In On Atlas Lithium

Several institutional investors and hedge funds have recently made changes to their positions in ATLX. Cross Staff Investments Inc boosted its holdings in Atlas Lithium by 1.1% in the fourth quarter. Cross Staff Investments Inc now owns 215,612 shares of the company’s stock valued at $6,744,000 after acquiring an additional 2,400 shares during the last quarter. Barclays PLC acquired a new position in shares of Atlas Lithium in the 2nd quarter worth approximately $28,000. Tower Research Capital LLC TRC bought a new stake in shares of Atlas Lithium in the 4th quarter valued at $33,000. Finally, Dorsey Wright & Associates acquired a new stake in shares of Atlas Lithium during the third quarter worth $28,000. Institutional investors and hedge funds own 18.35% of the company’s stock.

Atlas Lithium Stock Performance

Atlas Lithium stock opened at $14.05 on Friday. The business has a 50 day moving average of $15.58 and a 200-day moving average of $21.97. The company has a debt-to-equity ratio of 1.04, a current ratio of 5.24 and a quick ratio of 5.24. Atlas Lithium has a 1 year low of $11.80 and a 1 year high of $45.00. The company has a market capitalization of $179.42 million, a P/E ratio of -3.46 and a beta of -1.14.

Atlas Lithium (NASDAQ:ATLX) last released its quarterly earnings results on Wednesday, March 27th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.88). On average, equities research analysts predict that Atlas Lithium will post -2 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.