Atlas Lithium (NASDAQ:ATLX) Announces Quarterly Earnings Results

by · The Cerbat Gem

Atlas Lithium (NASDAQ:ATLX – Get Free Report) posted its quarterly earnings data on Friday. The company reported ($0.27) earnings per share (EPS) for the quarter, FiscalAI reports.

Atlas Lithium Trading Down 2.4%

Shares of Atlas Lithium stock traded down $0.04 during trading on Friday, reaching $1.64. The stock had a trading volume of 202,867 shares, compared to its average volume of 477,224. The company has a market capitalization of $48.37 million, a price-to-earnings ratio of -1.05 and a beta of 0.27. The stock has a fifty day moving average price of $2.50 and a two-hundred day moving average price of $3.81. Atlas Lithium has a 52 week low of $1.51 and a 52 week high of $6.72.

Institutional Investors Weigh In On Atlas Lithium

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ATLX. R Squared Ltd bought a new stake in Atlas Lithium during the 3rd quarter worth about $36,000. Independent Wealth Network Inc. grew its holdings in shares of Atlas Lithium by 89.6% in the 3rd quarter. Independent Wealth Network Inc. now owns 32,367 shares of the company’s stock valued at $82,000 after acquiring an additional 15,300 shares in the last quarter. Finally, FNY Investment Advisers LLC bought a new position in shares of Atlas Lithium in the 2nd quarter valued at about $562,000. 18.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ATLX. Weiss Ratings reiterated a “sell (e+)” rating on shares of Atlas Lithium in a research report on Friday, October 30th. HC Wainwright reduced their price target on Atlas Lithium from $12.50 to $11.50 and set a “buy” rating on the stock in a research report on Thursday, September 10th. Finally, Wall Street Zen cut Atlas Lithium from a “sell” rating to a “strong sell” rating in a research note on Sunday, September 20th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Atlas Lithium has an average rating of “Hold” and a consensus target price of $11.50.

Check Out Our Latest Report on Atlas Lithium

Atlas Lithium Company Profile

(Get Free Report)

Atlas Lithium Corporation is a mineral exploration and development company focused primarily on advancing lithium projects in Brazil. The company’s activities center on the exploration, development and potential production of lithium-bearing spodumene, a hard-rock mineral used to produce lithium chemicals for batteries and other applications.

Atlas Lithium’s portfolio is concentrated in Brazil’s Minas Gerais state, including the Jequitinhonha Valley, an area commonly known as Brazil’s Lithium Valley.

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