Atlas Lithium Co. (NASDAQ:ATLX) Short Interest Update

Atlas Lithium Co. (NASDAQ:ATLX) was the target of a large increase in short interest in November. As of November 15th, there was short interest totalling 498,600 shares, an increase of 5.6% from the October 31st total of 472,200 shares. Based on an average daily volume of 129,700 shares, the short-interest ratio is presently 3.8 days. Approximately 6.7% of the company’s stock are sold short.

Atlas Lithium Stock Performance

Atlas Lithium stock traded down $0.06 during midday trading on Wednesday, reaching $7.22. 67,730 shares of the company traded hands, compared to its average volume of 94,100. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.54 and a quick ratio of 3.45. Atlas Lithium has a 12 month low of $6.25 and a 12 month high of $34.00. The firm has a market capitalization of $111.33 million, a price-to-earnings ratio of -1.77 and a beta of -1.69. The business has a 50 day moving average of $7.82 and a two-hundred day moving average of $9.96.

Atlas Lithium (NASDAQ:ATLX) last released its quarterly earnings results on Friday, November 8th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.04). The firm had revenue of $0.17 million during the quarter. As a group, research analysts predict that Atlas Lithium will post -2.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and set a $19.00 price target on shares of Atlas Lithium in a report on Tuesday, October 29th.

Institutional Investors Weigh In On Atlas Lithium

An institutional investor recently raised its position in Atlas Lithium stock. Cross Staff Investments Inc boosted its holdings in shares of Atlas Lithium Co. (NASDAQ:ATLX) by 71.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 364,804 shares of the company’s stock after buying an additional 152,342 shares during the quarter. Atlas Lithium makes up about 1.9% of Cross Staff Investments Inc’s investment portfolio, making the stock its 9th largest holding. Cross Staff Investments Inc owned approximately 2.46% of Atlas Lithium worth $2,481,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 18.35% of the company’s stock.

Atlas Lithium Company Profile

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.