Atlas Lithium’s (ATLX) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of Atlas Lithium (NASDAQ:ATLX) in a research note published on Tuesday morning, Benzinga reports. The firm currently has a $19.00 price target on the stock.

Separately, Roth Mkm cut their price target 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.

Atlas Lithium Stock Down 0.3 %

Shares of Atlas Lithium stock opened at $10.22 on Tuesday. Atlas Lithium has a 12-month low of $6.25 and a 12-month high of $34.00. The firm has a market capitalization of $151.20 million, a PE ratio of -2.15 and a beta of -0.80. The company has a quick ratio of 6.15, a current ratio of 6.18 and a debt-to-equity ratio of 0.36. The stock’s fifty day moving average is $8.59 and its 200-day moving average is $11.14.

Atlas Lithium (NASDAQ:ATLX) last issued its quarterly earnings results on Friday, August 9th. The company reported ($0.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.15). The company had revenue of $0.18 million during the quarter. Equities analysts anticipate that Atlas Lithium will post -2.86 earnings per share for the current year.

Hedge Funds Weigh In On Atlas Lithium

A hedge fund recently raised its stake in Atlas Lithium stock. Cross Staff Investments Inc increased its stake in shares of Atlas Lithium Co. (NASDAQ:ATLX) by 71.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 364,804 shares of the company’s stock after purchasing an additional 152,342 shares during the quarter. Atlas Lithium makes up approximately 1.9% of Cross Staff Investments Inc’s portfolio, making the stock its 9th largest position. Cross Staff Investments Inc owned about 2.46% of Atlas Lithium worth $2,481,000 as of its most recent SEC filing. Institutional investors own 18.35% of the company’s stock.

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.