Short Interest in Atlas Lithium Co. (NASDAQ:ATLX) Decreases By 39.5%

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

Atlas Lithium Trading Up 4.4 %

Shares of NASDAQ ATLX traded up $0.62 during midday trading on Friday, reaching $14.67. 30,853 shares of the stock were exchanged, compared to its average volume of 87,049. Atlas Lithium has a twelve month low of $11.80 and a twelve month high of $45.00. The stock has a market capitalization of $187.34 million, a P/E ratio of -3.61 and a beta of -1.14. The company has a 50 day simple moving average of $15.50 and a 200 day simple moving average of $21.87. The company has a debt-to-equity ratio of 1.04, a quick ratio of 5.24 and a current ratio of 5.24.

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

Wall Street Analyst Weigh In

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

Institutional Trading of Atlas Lithium

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Cross Staff Investments Inc increased its position in shares of Atlas Lithium by 1.1% during the fourth quarter. Cross Staff Investments Inc now owns 215,612 shares of the company’s stock valued at $6,744,000 after acquiring an additional 2,400 shares during the last quarter. Barclays PLC acquired a new stake in Atlas Lithium in the 2nd quarter valued at approximately $28,000. Tower Research Capital LLC TRC purchased a new stake in Atlas Lithium in the fourth quarter valued at approximately $33,000. Finally, Dorsey Wright & Associates purchased a new stake in 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.

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.