Atlas Lithium Co. (NASDAQ:ATLX) Short Interest Update

Atlas Lithium Co. (NASDAQ:ATLX) was the recipient of a large increase in short interest during 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. Currently, 8.2% of the shares of the stock are sold short. Based on an average trading volume of 115,200 shares, the short-interest ratio is currently 5.3 days.

Institutional Investors Weigh In On Atlas Lithium

An institutional investor recently raised its position in Atlas Lithium stock. Cross Staff Investments Inc raised its holdings in shares of Atlas Lithium Co. (NASDAQ:ATLX) by 71.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 364,804 shares of the company’s stock after purchasing an additional 152,342 shares during the quarter. Atlas Lithium accounts for 1.9% of Cross Staff Investments Inc’s portfolio, making the stock its 9th largest position. Cross Staff Investments Inc owned 2.46% of Atlas Lithium worth $2,481,000 as of its most recent SEC filing. 18.35% of the stock is currently owned by institutional investors.

Atlas Lithium Trading Down 4.9 %

Atlas Lithium stock traded down $0.31 during trading on Monday, hitting $5.94. The company’s stock had a trading volume of 113,236 shares, compared to its average volume of 94,330. The stock’s fifty day moving average is $6.86 and its 200 day moving average is $8.27. Atlas Lithium has a 1-year low of $5.71 and a 1-year high of $21.85. The stock has a market capitalization of $91.61 million, a price-to-earnings ratio of -1.46 and a beta of -1.37. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.45 and a current ratio of 3.54.

Atlas Lithium (NASDAQ:ATLX) last released its 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 company had revenue of $0.17 million for the quarter. As a group, equities research analysts predict that Atlas Lithium will post -2.79 EPS for the current 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 report on Tuesday, October 29th.

About Atlas Lithium

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.