Atlas Lithium Co. (NASDAQ:ATLX) Short Interest Up 16.8% in August

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on ATLX shares. HC Wainwright raised their price target on shares of Atlas Lithium from $40.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Roth Mkm lowered their price objective on Atlas Lithium from $36.00 to $25.50 and set a “buy” rating on the stock in a research report on Friday, July 26th.

Atlas Lithium Price Performance

Shares of ATLX stock traded down $0.34 during trading on Monday, hitting $9.65. The company had a trading volume of 43,139 shares, compared to its average volume of 78,774. The stock’s 50-day moving average is $10.57 and its two-hundred day moving average is $12.93. The stock has a market capitalization of $142.84 million, a price-to-earnings ratio of -2.03 and a beta of -0.76. The company has a quick ratio of 6.15, a current ratio of 6.18 and a debt-to-equity ratio of 0.36. Atlas Lithium has a 52 week low of $8.37 and a 52 week high of $34.00.

Atlas Lithium (NASDAQ:ATLX) last issued its quarterly earnings results on Friday, August 9th. The company reported ($0.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.15). The firm had revenue of $0.18 million for the quarter. As a group, analysts predict that Atlas Lithium will post -2.93 EPS for the current fiscal 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.