Atlas Lithium Co. (NASDAQ:ATLX) Short Interest Up 29.4% in September

Atlas Lithium Co. (NASDAQ:ATLX - Get Free Report) saw a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 507,400 shares, an increase of 29.4% from the September 15th total of 392,100 shares. Approximately 6.9% of the shares of the company are short sold. Based on an average daily trading volume, of 89,300 shares, the days-to-cover ratio is currently 5.7 days.

Atlas Lithium Stock Performance

ATLX traded up $0.41 during trading on Friday, hitting $7.74. 180,881 shares of the stock were exchanged, compared to its average volume of 89,372. The firm has a market capitalization of $114.57 million, a P/E ratio of -1.63 and a beta of -0.80. Atlas Lithium has a 1-year low of $6.25 and a 1-year high of $34.00. The stock has a fifty day moving average price of $8.85 and a two-hundred day moving average price of $11.91. The company has a quick ratio of 6.15, a current ratio of 6.18 and a debt-to-equity ratio of 0.36.

Atlas Lithium (NASDAQ:ATLX - Get Free Report) last issued its quarterly earnings results on Friday, August 9th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.70) by ($0.15). The firm had revenue of $0.18 million for the quarter. As a group, sell-side analysts predict that Atlas Lithium will post -2.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ATLX shares. HC Wainwright restated a "buy" rating and issued a $19.00 price objective (down from $41.00) on shares of Atlas Lithium in a research report on Thursday, October 3rd. Roth Mkm dropped their price target on Atlas Lithium from $36.00 to $25.50 and set a "buy" rating for the company in a research report on Friday, July 26th.

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.