Atlas Lithium (NASDAQ:ATLX) Stock Rating Reaffirmed by HC Wainwright

Atlas Lithium (NASDAQ:ATLX)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research report issued on Tuesday, Benzinga reports. They presently have a $19.00 target price on the stock. HC Wainwright’s price objective would suggest a potential upside of 85.37% from the stock’s current price.

Separately, Roth Mkm dropped their target price on 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 Trading Up 24.7 %

ATLX opened at $10.25 on Tuesday. The stock has a market cap of $151.72 million, a PE ratio of -2.16 and a beta of -0.80. The business has a 50 day moving average of $8.58 and a 200-day moving average of $11.17. Atlas Lithium has a 52 week low of $6.25 and a 52 week high of $34.00. 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 (NASDAQ:ATLX) last released its 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 firm had revenue of $0.18 million for the quarter. Equities research analysts predict that Atlas Lithium will post -2.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Atlas Lithium

An institutional investor recently raised its position in Atlas Lithium stock. Cross Staff Investments Inc boosted its stake in Atlas Lithium Co. (NASDAQ:ATLX) by 71.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 364,804 shares of the company’s stock after purchasing an additional 152,342 shares during the period. Atlas Lithium makes up approximately 1.9% of Cross Staff Investments Inc’s holdings, making the stock its 9th largest position. Cross Staff Investments Inc owned about 2.46% of Atlas Lithium worth $2,481,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 18.35% of the company’s stock.

Atlas Lithium Company Profile

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.