Atlas Lithium Co. (NASDAQ:ATLX - Get Free Report) saw a significant growth in short interest in March. As of March 31st, there was short interest totalling 279,200 shares, a growth of 41.4% from the March 15th total of 197,400 shares. Based on an average daily volume of 95,600 shares, the days-to-cover ratio is currently 2.9 days. Currently, 4.1% of the shares of the stock are sold short.
Atlas Lithium Price Performance
Shares of ATLX traded down $0.03 on Friday, hitting $15.46. The company's stock had a trading volume of 58,785 shares, compared to its average volume of 94,822. The company has a market capitalization of $197.42 million, a PE ratio of -3.81 and a beta of -1.14. The company has a debt-to-equity ratio of 1.04, a current ratio of 5.24 and a quick ratio of 5.24. Atlas Lithium has a fifty-two week low of $11.80 and a fifty-two week high of $45.00. The company has a 50 day moving average price of $16.45 and a 200 day moving average price of $22.86.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the company. Alliance Global Partners decreased their price objective on Atlas Lithium from $75.00 to $55.00 and set a "buy" rating on the stock in a report on Tuesday, April 2nd. Roth Mkm decreased their price objective on Atlas Lithium from $39.00 to $36.00 and set a "buy" rating on the stock in a report on Monday, April 1st. Finally, HC Wainwright decreased their price objective on Atlas Lithium from $52.00 to $40.00 and set a "buy" rating on the stock in a report on Monday, April 1st.
Get Our Latest Report on ATLX
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of the business. Weiss Multi Strategy Advisers LLC raised its position in Atlas Lithium by 2.4% in the 4th quarter. Weiss Multi Strategy Advisers LLC now owns 276,857 shares of the company's stock worth $8,660,000 after purchasing an additional 6,464 shares during the last quarter. Cross Staff Investments Inc raised its position in Atlas Lithium by 1.1% in the 4th quarter. Cross Staff Investments Inc now owns 215,612 shares of the company's stock worth $6,744,000 after purchasing an additional 2,400 shares during the last quarter. Invesco Ltd. bought a new position in Atlas Lithium in the 3rd quarter worth approximately $3,864,000. BlackRock Inc. bought a new position in Atlas Lithium in the 2nd quarter worth approximately $721,000. Finally, Polar Asset Management Partners Inc. bought a new position in Atlas Lithium in the 2nd quarter worth approximately $350,000. 18.35% of the stock is owned by institutional investors and hedge funds.
About Atlas Lithium
(
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Atlas Lithium Corporation operates as a mineral exploration and mining 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.
Further Reading
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