Short Interest in Atlas Lithium Co. (NASDAQ:ATLX) Increases By 7.7%

Atlas Lithium Co. (NASDAQ:ATLX) was the recipient of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 547,900 shares, an increase of 7.7% from the November 30th total of 508,500 shares. Currently, 7.3% of the shares of the company are sold short. Based on an average daily volume of 123,300 shares, the days-to-cover ratio is presently 4.4 days.

Analyst Ratings Changes

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

Hedge Funds 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 third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 364,804 shares of the company’s stock after purchasing an additional 152,342 shares during the period. Atlas Lithium accounts for approximately 1.9% of Cross Staff Investments Inc’s holdings, making the stock its 9th largest holding. Cross Staff Investments Inc owned approximately 2.46% of Atlas Lithium worth $2,481,000 at the end of the most recent quarter. Institutional investors and hedge funds own 18.35% of the company’s stock.

Atlas Lithium Trading Down 2.5 %

Atlas Lithium stock opened at $6.33 on Thursday. The business has a 50 day moving average price of $7.72 and a two-hundred day moving average price of $8.95. The company has a quick ratio of 3.45, a current ratio of 3.54 and a debt-to-equity ratio of 0.41. The stock has a market cap of $97.58 million, a price-to-earnings ratio of -1.55 and a beta of -1.69. Atlas Lithium has a 12 month low of $6.12 and a 12 month high of $33.85.

Atlas Lithium (NASDAQ:ATLX) last posted its quarterly earnings results on Friday, November 8th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.04). The business had revenue of $0.17 million during the quarter. As a group, equities analysts forecast that Atlas Lithium will post -2.79 EPS for the current year.

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.