Tiago Miranda Sells 5,831 Shares of Atlas Lithium (NASDAQ:ATLX) Stock

Key Points

• CFO Tiago Miranda sold 5,831 shares on April 17 at an average of $5.03 (≈$29,330) and had sold 4,400 shares on April 16, reducing his stake to 30,000 shares — a 16.27% decrease in ownership.
• Atlas Lithium reported Q results with ($0.36) EPS, beating the ($0.64) estimate by $0.28, but revenue was only $0.04 million versus analysts' $42.9 million expectation.
• Shares traded up to $5.06 (up 3.3%) on higher-than-average volume, the company has a market cap of about $140.5M, and analysts have a consensus "Hold" rating with an average target of $12.00.

Atlas Lithium Corporation (NASDAQ:ATLX - Get Free Report) CFO Tiago Miranda sold 5,831 shares of Atlas Lithium stock in a transaction on Friday, April 17th. The shares were sold at an average price of $5.03, for a total value of $29,329.93. Following the transaction, the chief financial officer owned 30,000 shares in the company, valued at $150,900. This trade represents a 16.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Tiago Miranda also recently made the following trade(s):

• On Thursday, April 16th, Tiago Miranda sold 4,400 shares of Atlas Lithium stock. The shares were sold at an average price of $5.00, for a total value of $22,000.00.

Atlas Lithium Trading Up 3.3%

NASDAQ ATLX traded up $0.16 on Monday, hitting $5.06. 608,167 shares of the company traded hands, compared to its average volume of 402,626. The company has a market capitalization of $140.52 million, a price-to-earnings ratio of -3.22 and a beta of -0.40. The business's 50 day moving average price is $4.73 and its 200-day moving average price is $4.98. Atlas Lithium Corporation has a 52-week low of $3.60 and a 52-week high of $8.25.

Atlas Lithium (NASDAQ:ATLX - Get Free Report) last released its earnings results on Wednesday, March 4th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.64) by $0.28. The company had revenue of $0.04 million for the quarter, compared to analysts' expectations of $42.90 million. As a group, sell-side analysts predict that Atlas Lithium Corporation will post -0.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Zacks Research upgraded Atlas Lithium to a "hold" rating in a research report on Thursday, February 5th. Wall Street Zen upgraded Atlas Lithium from a "sell" rating to a "hold" rating in a research report on Saturday, April 11th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Atlas Lithium in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $12.00.

Hedge Funds Weigh In On Atlas Lithium

Several large investors have recently made changes to their positions in ATLX. Prospera Financial Services Inc purchased a new stake in shares of Atlas Lithium in the fourth quarter worth about $42,000. LPL Financial LLC purchased a new stake in shares of Atlas Lithium in the fourth quarter worth about $43,000. Alps Advisors Inc. purchased a new stake in shares of Atlas Lithium in the third quarter worth about $57,000. Quadrature Capital Ltd purchased a new stake in shares of Atlas Lithium in the fourth quarter worth about $61,000. Finally, Virtu Financial LLC purchased a new stake in shares of Atlas Lithium in the third quarter worth about $153,000. 18.35% of the stock is currently owned by hedge funds and other institutional investors.

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. The company also owns 100% interests in various mining concessions for gold, diamond, and industrial sand; and early-stage projects and properties in other minerals, such as nickel, copper, rare earths, graphite, and titanium; as well as participates in iron and quartzite projects.

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