Atlas Lithium (NASDAQ:ATLX) Upgraded by Wall Street Zen to “Sell” Rating

by · The Cerbat Gem

Wall Street Zen upgraded shares of Atlas Lithium (NASDAQ:ATLX – Free Report) from a strong sell rating to a sell rating in a research note released on Saturday,Wall Street Zen reports.

A number of other research analysts have also recently commented on ATLX. Weiss Ratings cut shares of Atlas Lithium from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, August 3rd. HC Wainwright decreased their price objective on shares of Atlas Lithium from $12.50 to $11.50 and set a “buy” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Atlas Lithium currently has a consensus rating of “Hold” and a consensus price target of $11.50.

Get Our Latest Stock Report on Atlas Lithium

Atlas Lithium Stock Down 2.3%

ATLX opened at $3.03 on Friday. The business has a fifty day moving average of $3.11 and a 200 day moving average of $4.02. The stock has a market cap of $89.35 million, a P/E ratio of -1.94 and a beta of 0.05. Atlas Lithium has a 52-week low of $2.55 and a 52-week high of $8.25.

Atlas Lithium (NASDAQ:ATLX – Get Free Report) last released its earnings results on Friday, August 14th. The company reported ($0.35) earnings per share for the quarter. Equities analysts anticipate that Atlas Lithium will post -1.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Atlas Lithium

Several hedge funds have recently made changes to their positions in the company. Prospera Financial Services Inc purchased a new position in shares of Atlas Lithium during the fourth quarter valued at $42,000. LPL Financial LLC bought a new stake in shares of Atlas Lithium in the fourth quarter valued at about $43,000. Quadrature Capital Ltd purchased a new stake in Atlas Lithium in the fourth quarter worth about $61,000. Alps Advisors Inc. lifted its stake in Atlas Lithium by 95.7% in the fourth quarter. Alps Advisors Inc. now owns 23,413 shares of the company’s stock worth $99,000 after acquiring an additional 11,447 shares during the period. Finally, Virtu Financial LLC purchased a new position in Atlas Lithium during the 3rd quarter valued at about $153,000. 18.35% of the stock is currently owned by hedge funds and other institutional investors.

Atlas Lithium Company Profile

(Get Free Report)

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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