HC Wainwright Reiterates "Buy" Rating for Atlas Lithium (NASDAQ:ATLX)

HC Wainwright reaffirmed their buy rating on shares of Atlas Lithium (NASDAQ:ATLX - Free Report) in a research report released on Tuesday morning, Benzinga reports. They currently have a $19.00 target price on the stock.

Separately, Roth Mkm decreased their target price 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 Trading Down 0.3 %

NASDAQ:ATLX traded down $0.03 on Tuesday, hitting $10.22. 274,667 shares of the stock were exchanged, compared to its average volume of 92,512. The stock has a market capitalization of $151.28 million, a price-to-earnings ratio of -2.39 and a beta of -0.80. Atlas Lithium has a 52 week low of $6.25 and a 52 week high of $34.00. The company has a debt-to-equity ratio of 0.36, a quick ratio of 6.15 and a current ratio of 6.18. The company's 50-day moving average price is $8.58 and its 200 day moving average price is $11.17.

Atlas Lithium (NASDAQ:ATLX - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $0.18 million during the quarter. On average, equities research analysts forecast that Atlas Lithium will post -2.86 earnings per share for the current year.

Hedge Funds Weigh In On Atlas Lithium

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 its most recent 13F filing with the SEC. The firm owned 364,804 shares of the company's stock after purchasing an additional 152,342 shares during the quarter. Atlas Lithium comprises 1.9% of Cross Staff Investments Inc's holdings, making the stock its 9th biggest position. Cross Staff Investments Inc owned approximately 2.46% of Atlas Lithium worth $2,481,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 18.35% of the company's stock.

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.