Atlas Lithium (NASDAQ:ATLX) Lowered to Strong Sell Rating by Wall Street Zen

by · The Markets Daily

Wall Street Zen cut shares of Atlas Lithium (NASDAQ:ATLX – Free Report) from a sell rating to a strong sell rating in a research note published on Sunday morning,Wall Street Zen reports.

Several other brokerages have also recently issued reports on ATLX. Weiss Ratings cut shares of Atlas Lithium from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, August 3rd. HC Wainwright cut their target price on shares of Atlas Lithium from $12.50 to $11.50 and set a “buy” rating for the company in a research note on Thursday, September 10th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $11.50.

View Our Latest Analysis on ATLX

Atlas Lithium Price Performance

Shares of Atlas Lithium stock opened at $2.90 on Friday. The firm has a market cap of $85.52 million, a price-to-earnings ratio of -1.86 and a beta of 0.05. The business has a fifty day simple moving average of $3.07 and a 200-day simple moving average of $3.92. Atlas Lithium has a fifty-two week low of $2.55 and a fifty-two week high of $8.25.

Atlas Lithium (NASDAQ:ATLX – Get Free Report) last released its earnings results on Friday, August 14th. The company reported ($0.35) earnings per share (EPS) for the quarter. Analysts anticipate that Atlas Lithium will post -1.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Atlas Lithium

A number of institutional investors and hedge funds have recently modified their holdings of ATLX. FNY Investment Advisers LLC purchased a new stake in shares of Atlas Lithium during the second quarter valued at $562,000. Cross Staff Investments Inc increased its stake in Atlas Lithium by 0.7% in the 1st quarter. Cross Staff Investments Inc now owns 558,718 shares of the company’s stock worth $2,430,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Prospera Financial Services Inc acquired a new stake in Atlas Lithium during the 4th quarter worth about $42,000. 18.35% of the stock is owned by institutional investors and hedge funds.

About Atlas Lithium

(Get Free Report)

Atlas Lithium Corporation (NASDAQ: ATLX) is a mineral exploration and development company focused primarily on lithium resources in Brazil. The company’s activities are centered in the state of Minas Gerais, an established region for hard-rock lithium deposits, where it holds and develops a portfolio of lithium properties.

Atlas Lithium is working to advance its Brazilian projects from exploration and resource definition toward commercial production. Its operations are focused on spodumene-bearing pegmatites, with activities that include geological exploration, drilling, mineral-resource evaluation, mine development and the planned processing of lithium-bearing ore into spodumene concentrate for the battery materials supply chain.

The company was formerly known as Brazil Minerals, Inc before adopting the Atlas Lithium name as it shifted its strategic emphasis toward lithium.

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