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

Atlas Lithium Co. (NASDAQ:ATLX) saw a large growth in short interest in January. As of January 15th, there was short interest totalling 613,000 shares, a growth of 11.9% from the December 31st total of 547,900 shares. Based on an average daily volume of 115,200 shares, the short-interest ratio is currently 5.3 days. Approximately 8.2% of the shares of the stock are sold short.

Institutional Investors Weigh In On Atlas Lithium

An institutional investor recently raised its position in Atlas Lithium stock. Cross Staff Investments Inc raised its holdings in Atlas Lithium Co. (NASDAQ:ATLX) by 71.7% during the 3rd quarter, according to its most recent disclosure 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 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. 18.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Atlas Lithium Price Performance

Shares of NASDAQ:ATLX traded down $0.05 during trading on Friday, hitting $6.25. 91,769 shares of the stock were exchanged, compared to its average volume of 81,164. Atlas Lithium has a 12-month low of $6.07 and a 12-month high of $23.76. The company has a market cap of $96.38 million, a PE ratio of -1.53 and a beta of -1.36. The company has a fifty day moving average price of $6.86 and a two-hundred day moving average price of $8.33. 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 (NASDAQ:ATLX) last posted 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 during the quarter. On average, 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.