Warberg Asset Management LLC Makes New Investment in Atlas Lithium Corporation (NASDAQ:ATLX)

Key Points

• Warberg Asset Management LLC acquired approximately 126,999 shares of Atlas Lithium Corporation, valued at about $657,000, increasing its stake to 0.73% by the end of the most recent quarter.
• Atlas Lithium reported a loss of $0.55 EPS for the last quarter, missing analyst expectations, with a negative net margin of 8,115.34% and revenue of only $0.03 million.
• The stock has a market cap of $77.43 million and a 1-year price range from $3.54 to $12.48, with current trading around $4.34.

Warberg Asset Management LLC acquired a new stake in Atlas Lithium Corporation (NASDAQ:ATLX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 126,999 shares of the company's stock, valued at approximately $657,000. Warberg Asset Management LLC owned approximately 0.73% of Atlas Lithium at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Polar Asset Management Partners Inc. raised its stake in shares of Atlas Lithium by 3.1% in the fourth quarter. Polar Asset Management Partners Inc. now owns 111,476 shares of the company's stock worth $706,000 after acquiring an additional 3,316 shares during the last quarter. Millennium Management LLC acquired a new position in Atlas Lithium during the 4th quarter valued at about $64,000. Alps Advisors Inc. acquired a new position in Atlas Lithium during the 1st quarter valued at about $56,000. Quadrant Private Wealth Management LLC acquired a new position in Atlas Lithium during the 1st quarter valued at about $93,000. Finally, Cross Staff Investments Inc lifted its position in Atlas Lithium by 4.4% during the 1st quarter. Cross Staff Investments Inc now owns 552,618 shares of the company's stock valued at $2,857,000 after purchasing an additional 23,500 shares during the period. 18.35% of the stock is owned by institutional investors.

Atlas Lithium Stock Performance

Atlas Lithium stock opened at $4.34 on Monday. The company has a current ratio of 2.33, a quick ratio of 2.26 and a debt-to-equity ratio of 0.40. Atlas Lithium Corporation has a 1 year low of $3.54 and a 1 year high of $12.48. The company has a market cap of $77.43 million, a PE ratio of -1.60 and a beta of -0.83. The company's 50-day moving average is $4.25 and its two-hundred day moving average is $4.77.

Atlas Lithium (NASDAQ:ATLX - Get Free Report) last released its earnings results on Friday, May 9th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.50) by ($0.05). Atlas Lithium had a negative net margin of 8,115.34% and a negative return on equity of 166.50%. The business had revenue of $0.03 million for the quarter, compared to analyst estimates of $15.40 million. Equities analysts anticipate that Atlas Lithium Corporation will post -2.79 earnings per share for the current year.

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.

Want to see what other hedge funds are holding ATLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Atlas Lithium Corporation (NASDAQ:ATLX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.