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

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

Atlas Lithium Stock Down 2.5 %

NASDAQ:ATLX opened at $6.33 on Thursday. Atlas Lithium has a 12-month low of $6.12 and a 12-month high of $33.85. 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 firm has a market capitalization of $97.58 million, a P/E ratio of -1.55 and a beta of -1.69. The stock’s fifty day simple moving average is $7.72 and its 200-day simple moving average is $8.95.

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

Institutional Inflows and Outflows

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% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 364,804 shares of the company’s stock after acquiring an additional 152,342 shares during the period. Atlas Lithium makes up approximately 1.9% of Cross Staff Investments Inc’s investment portfolio, making the stock its 9th largest holding. Cross Staff Investments Inc owned 2.46% of Atlas Lithium worth $2,481,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 18.35% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.