Atlas Lithium Corporation (NASDAQ:ATLX) Sees Large Drop in Short Interest
by Doug Wharley · The Cerbat GemAtlas Lithium Corporation (NASDAQ:ATLX – Get Free Report) was the target of a large drop in short interest in the month of January. As of January 15th, there was short interest totaling 1,176,298 shares, a drop of 30.5% from the December 31st total of 1,691,559 shares. Based on an average daily volume of 634,262 shares, the days-to-cover ratio is presently 1.9 days. Currently, 7.8% of the company’s stock are short sold. Currently, 7.8% of the company’s stock are short sold. Based on an average daily volume of 634,262 shares, the days-to-cover ratio is presently 1.9 days.
Institutional Trading of Atlas Lithium
A number of hedge funds and other institutional investors have recently made changes to their positions in ATLX. Alps Advisors Inc. bought a new position in shares of Atlas Lithium in the third quarter valued at approximately $57,000. Cross Staff Investments Inc increased its holdings in Atlas Lithium by 2.2% during the 3rd 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 during the period. Virtu Financial LLC purchased a new stake in Atlas Lithium in the 3rd quarter worth approximately $153,000. Marshall Wace LLP bought a new position in Atlas Lithium in the 2nd quarter valued at $258,000. Finally, Connective Capital Management LLC purchased a new position in shares of Atlas Lithium during the 3rd quarter valued at $405,000. 18.35% of the stock is currently owned by institutional investors.
Atlas Lithium Stock Down 12.2%
Atlas Lithium stock opened at $5.03 on Friday. Atlas Lithium has a fifty-two week low of $3.54 and a fifty-two week high of $8.25. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.61 and a current ratio of 3.69. The firm’s 50-day simple moving average is $4.97 and its 200 day simple moving average is $5.14. The stock has a market cap of $120.97 million, a PE ratio of -2.61 and a beta of -0.75.
Atlas Lithium (NASDAQ:ATLX – Get Free Report) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.29. Atlas Lithium had a negative return on equity of 120.64% and a negative net margin of 9,881.20%. Research analysts predict that Atlas Lithium will post -2.79 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on ATLX shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Atlas Lithium in a research note on Monday, December 29th. HC Wainwright lowered their target price on shares of Atlas Lithium from $18.00 to $12.00 and set a “buy” rating on the stock in a report on Monday, November 17th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Atlas Lithium has a consensus rating of “Hold” and a consensus target price of $12.00.
Get Our Latest Research Report on Atlas Lithium
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.