Atlas Lithium Co. (NASDAQ:ATLX) Sees Significant Drop in Short Interest

Atlas Lithium Co. (NASDAQ:ATLX) saw a significant decline in short interest in the month of April. As of April 15th, there was short interest totalling 168,900 shares, a decline of 39.5% from the March 31st total of 279,200 shares. Approximately 3.9% of the shares of the company are sold short. Based on an average daily trading volume, of 96,400 shares, the short-interest ratio is presently 1.8 days.

Atlas Lithium Trading Up 4.4 %

Shares of NASDAQ:ATLX traded up $0.62 during trading on Friday, reaching $14.67. The company had a trading volume of 30,853 shares, compared to its average volume of 87,049. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 1.04. The stock’s fifty day moving average price is $15.50 and its 200 day moving average price is $21.84. Atlas Lithium has a fifty-two week low of $11.80 and a fifty-two week high of $45.00.

Atlas Lithium (NASDAQ:ATLX) last posted its quarterly earnings results on Wednesday, March 27th. The company reported ($1.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.88). Analysts anticipate that Atlas Lithium will post -2 earnings per share for the current year.

Institutional Trading of Atlas Lithium

A number of institutional investors have recently modified their holdings of the business. Cross Staff Investments Inc boosted its stake in shares of Atlas Lithium by 1.1% in the fourth quarter. Cross Staff Investments Inc now owns 215,612 shares of the company’s stock valued at $6,744,000 after buying an additional 2,400 shares in the last quarter. Barclays PLC purchased a new stake in shares of Atlas Lithium in the second quarter valued at approximately $28,000. Tower Research Capital LLC TRC purchased a new stake in shares of Atlas Lithium in the fourth quarter valued at approximately $33,000. Finally, Dorsey Wright & Associates purchased a new stake in shares of Atlas Lithium in the third quarter valued at approximately $28,000. 18.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ATLX has been the topic of several research analyst reports. HC Wainwright cut their price target on Atlas Lithium from $52.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, April 1st. Alliance Global Partners cut their price target on Atlas Lithium from $75.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. Finally, Roth Mkm cut their price target on Atlas Lithium from $39.00 to $36.00 and set a “buy” rating on the stock in a research report on Monday, April 1st.

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.