Short Interest in Atlas Lithium Co. (NASDAQ:ATLX) Increases By 5.6%

Atlas Lithium Co. (NASDAQ:ATLX) saw a significant increase in short interest in the month of 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 trading volume of 129,700 shares, the days-to-cover ratio is presently 3.8 days. Approximately 6.7% of the company’s stock are sold short.

Atlas Lithium Stock Up 2.7 %

Shares of NASDAQ ATLX opened at $7.28 on Tuesday. The stock has a market capitalization of $112.23 million, a PE ratio of -1.78 and a beta of -1.25. The company has a current ratio of 3.54, a quick ratio of 3.45 and a debt-to-equity ratio of 0.41. Atlas Lithium has a 12-month low of $6.25 and a 12-month high of $34.00. The stock’s fifty day simple moving average is $7.80 and its two-hundred day simple moving average is $10.07.

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

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Atlas Lithium

A hedge fund recently raised its stake in Atlas Lithium stock. Cross Staff Investments Inc boosted its stake in shares of Atlas Lithium Co. (NASDAQ:ATLX) by 71.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 364,804 shares of the company’s stock after purchasing an additional 152,342 shares during the period. Atlas Lithium makes up about 1.9% of Cross Staff Investments Inc’s portfolio, making the stock its 9th biggest position. Cross Staff Investments Inc owned approximately 2.46% of Atlas Lithium worth $2,481,000 as of its most recent filing with the Securities and Exchange Commission. 18.35% of the stock is currently owned by institutional investors.

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.