Atlas Lithium Co. (NASDAQ:ATLX) Short Interest Up 25.5% in July

Atlas Lithium Co. (NASDAQ:ATLX) was the recipient of a large growth in short interest during the month of July. As of July 15th, there was short interest totalling 331,000 shares, a growth of 25.5% from the June 30th total of 263,800 shares. Based on an average daily trading volume, of 77,500 shares, the days-to-cover ratio is currently 4.3 days. Currently, 4.9% of the shares of the company are sold short.

Institutional Trading of Atlas Lithium

A hedge fund recently bought a new stake in Atlas Lithium stock. Tower Research Capital LLC TRC acquired a new position in shares of Atlas Lithium Co. (NASDAQ:ATLX) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,061 shares of the company’s stock, valued at approximately $33,000. Institutional investors and hedge funds own 18.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ATLX. Roth Mkm decreased their price objective on Atlas Lithium from $36.00 to $25.50 and set a “buy” rating on the stock in a report on Friday. Alliance Global Partners decreased their price target on Atlas Lithium from $75.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday, April 2nd. Finally, HC Wainwright boosted their price objective on Atlas Lithium from $40.00 to $41.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th.

Atlas Lithium Price Performance

Shares of Atlas Lithium stock traded down $0.06 during trading on Tuesday, reaching $11.16. The company’s stock had a trading volume of 14,919 shares, compared to its average volume of 84,244. The stock has a 50-day moving average price of $12.20 and a two-hundred day moving average price of $15.52. The company has a current ratio of 2.76, a quick ratio of 2.75 and a debt-to-equity ratio of 3.74. Atlas Lithium has a one year low of $9.30 and a one year high of $34.00. The stock has a market capitalization of $165.17 million, a P/E ratio of -2.40 and a beta of -0.72.

Atlas Lithium (NASDAQ:ATLX) last released its quarterly earnings results on Wednesday, May 15th. The company reported ($1.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.56). The company had revenue of $0.19 million during the quarter. As a group, sell-side analysts anticipate that Atlas Lithium will post -2.35 EPS for the current fiscal 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.