Short Interest in Atlas Lithium Co. (NASDAQ:ATLX) Expands By 11.9%

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

Atlas Lithium Price Performance

NASDAQ:ATLX traded down $0.31 during mid-day trading on Monday, reaching $5.94. 113,236 shares of the stock were exchanged, compared to its average volume of 94,330. Atlas Lithium has a 1-year low of $5.71 and a 1-year high of $21.85. The company has a current ratio of 3.54, a quick ratio of 3.45 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $91.61 million, a PE ratio of -1.46 and a beta of -1.37. The business has a fifty day moving average price of $6.86 and a 200 day moving average price of $8.27.

Atlas Lithium (NASDAQ:ATLX) last released its 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 company had revenue of $0.17 million for the quarter. Research analysts expect that Atlas Lithium will post -2.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $19.00 price target on shares of Atlas Lithium in a research note 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 45.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 529,118 shares of the company’s stock after buying an additional 164,314 shares during the period. Atlas Lithium comprises 2.5% of Cross Staff Investments Inc’s investment portfolio, making the stock its 7th largest holding. Cross Staff Investments Inc owned about 3.43% of Atlas Lithium worth $3,349,000 as of its most recent filing with the Securities and Exchange Commission. 18.35% of the stock is currently owned by hedge funds and other institutional investors.

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.