Brokers Set Expectations for Atlas Lithium FY2024 Earnings

Atlas Lithium Co. (NASDAQ:ATLX - Free Report) - Equities research analysts at Roth Capital cut their FY2024 EPS estimates for shares of Atlas Lithium in a report released on Wednesday, October 30th. Roth Capital analyst J. Reagor now forecasts that the company will post earnings of ($3.09) per share for the year, down from their previous estimate of ($2.93). The consensus estimate for Atlas Lithium's current full-year earnings is ($2.86) per share.

Other equities analysts also recently issued research reports about the stock. HC Wainwright reiterated a "buy" rating and set a $19.00 target price on shares of Atlas Lithium in a research note on Tuesday. Roth Mkm lowered their target price on shares of Atlas Lithium from $36.00 to $25.50 and set a "buy" rating for the company in a research note on Friday, July 26th.

Atlas Lithium Stock Down 3.9 %

Shares of ATLX stock traded down $0.39 on Friday, reaching $9.66. 99,932 shares of the stock were exchanged, compared to its average volume of 92,934. The company has a current ratio of 6.18, a quick ratio of 6.15 and a debt-to-equity ratio of 0.36. The business's 50 day moving average price is $8.55 and its 200 day moving average price is $11.09. The company has a market capitalization of $147.32 million, a price-to-earnings ratio of -2.11 and a beta of -0.80. Atlas Lithium has a twelve month low of $6.25 and a twelve month high of $34.00.

Atlas Lithium (NASDAQ:ATLX - Get Free Report) last posted its earnings results on Friday, August 9th. The company reported ($0.85) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.15). The company had revenue of $0.18 million for the quarter.

Hedge Funds Weigh In On Atlas Lithium

An institutional investor recently raised its position in Atlas Lithium stock. Cross Staff Investments Inc boosted its position in Atlas Lithium Co. (NASDAQ:ATLX - Free Report) by 71.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 364,804 shares of the company's stock after purchasing an additional 152,342 shares during the period. Atlas Lithium comprises approximately 1.9% of Cross Staff Investments Inc's holdings, making the stock its 9th largest position. Cross Staff Investments Inc owned about 2.46% of Atlas Lithium worth $2,481,000 at the end of the most recent quarter. 18.35% of the stock is currently owned by institutional investors and hedge funds.

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.