Atlas Lithium Co. (NASDAQ:ATLX - Get Free Report) was the recipient of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 547,900 shares, an increase of 7.7% from the November 30th total of 508,500 shares. Based on an average daily volume of 123,300 shares, the days-to-cover ratio is currently 4.4 days. Currently, 7.3% of the shares of the company are sold short.
Institutional Inflows and Outflows
An institutional investor recently raised its position in Atlas Lithium stock. Cross Staff Investments Inc lifted its holdings in Atlas Lithium Co. (NASDAQ:ATLX - Free Report) by 71.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. 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 approximately 1.9% of Cross Staff Investments Inc's holdings, making the stock its 9th largest position. Cross Staff Investments Inc owned approximately 2.46% of Atlas Lithium worth $2,481,000 as of its most recent SEC filing. 18.35% of the stock is owned by institutional investors.
Atlas Lithium Stock Performance
NASDAQ:ATLX traded down $0.16 during midday trading on Tuesday, reaching $6.33. 69,461 shares of the company traded hands, compared to its average volume of 94,633. The firm has a market capitalization of $97.58 million, a price-to-earnings ratio of -1.55 and a beta of -1.69. The company has a fifty day moving average price of $7.75 and a 200 day moving average price of $8.98. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.54 and a quick ratio of 3.45. Atlas Lithium has a twelve month low of $6.12 and a twelve month high of $33.85.
Atlas Lithium (NASDAQ:ATLX - Get Free Report) last announced its quarterly 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 firm had revenue of $0.17 million for the quarter. On average, analysts expect that Atlas Lithium will post -2.79 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Separately, HC Wainwright reaffirmed a "buy" rating and set a $19.00 price objective on shares of Atlas Lithium in a research report on Tuesday, October 29th.
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About Atlas Lithium
(
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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.
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