Atlas Lithium (NASDAQ:ATLX) Posts Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Atlas Lithium (NASDAQ:ATLX) released its quarterly earnings data on Friday. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.04), Zacks reports. The firm had revenue of $0.17 million for the quarter.

Atlas Lithium Stock Performance

NASDAQ ATLX traded down $0.49 during mid-day trading on Monday, reaching $8.05. 145,172 shares of the stock were exchanged, compared to its average volume of 93,279. The business’s 50 day moving average is $8.32 and its 200-day moving average is $10.82. Atlas Lithium has a 1 year low of $6.25 and a 1 year high of $34.00. The company has a market capitalization of $122.76 million, a P/E ratio of -1.97 and a beta of -1.25. The company has a debt-to-equity ratio of 0.36, a quick ratio of 6.15 and a current ratio of 6.18.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Atlas Lithium in a report on Tuesday, October 29th. Roth Mkm dropped their price objective 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.

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.