Short Interest in Atlas Lithium Co. (NASDAQ:ATLX) Increases By 16.8%

Atlas Lithium Co. (NASDAQ:ATLX) was the recipient of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 376,400 shares, an increase of 16.8% from the August 15th total of 322,300 shares. Approximately 5.8% of the company’s shares are short sold. Based on an average daily trading volume, of 72,800 shares, the days-to-cover ratio is presently 5.2 days.

Atlas Lithium Stock Down 3.8 %

ATLX traded down $0.40 during mid-day trading on Friday, reaching $9.99. 48,917 shares of the stock were exchanged, compared to its average volume of 78,963. Atlas Lithium has a 1 year low of $8.37 and a 1 year 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 stock has a market capitalization of $152.35 million, a PE ratio of -2.10 and a beta of -0.76. The company has a 50 day moving average price of $10.57 and a two-hundred day moving average price of $12.96.

Atlas Lithium (NASDAQ:ATLX) last released its quarterly 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. As a group, research analysts anticipate that Atlas Lithium will post -2.93 EPS for the current year.

Analyst Ratings Changes

ATLX has been the subject of a number of research reports. HC Wainwright raised their price target on shares of Atlas Lithium from $40.00 to $41.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Roth Mkm lowered their target price on shares of Atlas Lithium from $36.00 to $25.50 and set a “buy” rating on the stock in a 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.