Wall Street Zen Upgrades Atlas Lithium (NASDAQ:ATLX) to Hold
by Renee Jackson · The Cerbat GemAtlas Lithium (NASDAQ:ATLX – Get Free Report) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.
Other research analysts have also recently issued research reports about the stock. Zacks Research upgraded shares of Atlas Lithium to a “hold” rating in a report on Thursday, February 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Atlas Lithium in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $12.00.
Get Our Latest Analysis on Atlas Lithium
Atlas Lithium Stock Performance
Shares of ATLX opened at $4.35 on Friday. Atlas Lithium has a 12 month low of $3.60 and a 12 month high of $8.25. The firm has a fifty day simple moving average of $4.73 and a 200 day simple moving average of $5.00. The stock has a market capitalization of $118.04 million, a price-to-earnings ratio of -2.77 and a beta of -0.40.
Atlas Lithium (NASDAQ:ATLX – Get Free Report) last announced its earnings results on Wednesday, March 4th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.64) by $0.28. The business had revenue of $0.04 million for the quarter, compared to analyst estimates of $42.90 million. As a group, research analysts predict that Atlas Lithium will post -2.79 earnings per share for the current fiscal year.
Institutional Trading of Atlas Lithium
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. raised its position in Atlas Lithium by 48.3% during the fourth quarter. Invesco Ltd. now owns 758,138 shares of the company’s stock worth $3,207,000 after acquiring an additional 247,064 shares in the last quarter. Marshall Wace LLP raised its position in Atlas Lithium by 2.0% during the fourth quarter. Marshall Wace LLP now owns 614,259 shares of the company’s stock worth $2,598,000 after acquiring an additional 12,169 shares in the last quarter. Cross Staff Investments Inc raised its position in Atlas Lithium by 2.2% during the third quarter. Cross Staff Investments Inc now owns 565,618 shares of the company’s stock worth $2,692,000 after acquiring an additional 12,000 shares in the last quarter. Weiss Asset Management LP bought a new stake in Atlas Lithium during the fourth quarter worth $1,107,000. Finally, Connective Capital Management LLC bought a new stake in Atlas Lithium during the third quarter worth $405,000. 18.35% of the stock is owned by 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. The company also owns 100% interests in various mining concessions for gold, diamond, and industrial sand; and early-stage projects and properties in other minerals, such as nickel, copper, rare earths, graphite, and titanium; as well as participates in iron and quartzite projects.