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

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ATLX shares. HC Wainwright upped their price objective on Atlas Lithium from $40.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Roth Mkm cut their price target on Atlas Lithium from $36.00 to $25.50 and set a “buy” rating for the company in a research note on Friday, July 26th.

Atlas Lithium Stock Performance

Shares of ATLX stock traded down $0.34 during trading on Monday, reaching $9.65. 43,139 shares of the company’s stock traded hands, compared to its average volume of 78,774. Atlas Lithium has a 1 year low of $8.37 and a 1 year high of $34.00. The company has a market capitalization of $142.84 million, a P/E ratio of -2.03 and a beta of -0.76. The company has a current ratio of 6.18, a quick ratio of 6.15 and a debt-to-equity ratio of 0.36. The firm’s 50-day moving average is $10.57 and its 200 day moving average is $12.93.

Atlas Lithium (NASDAQ:ATLX) last posted its earnings results on Friday, August 9th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.70) by ($0.15). The business had revenue of $0.18 million during the quarter. Equities research analysts expect that Atlas Lithium will post -2.93 EPS for the current year.

About Atlas Lithium

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.