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 report released on Tuesday morning, Benzinga reports. HC Wainwright currently has a $19.00 price objective 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 Performance

Shares of NASDAQ ATLX opened at $9.66 on Tuesday. Atlas Lithium has a 12 month low of $6.25 and a 12 month high of $34.00. The company has a market cap of $147.32 million, a PE ratio of -2.11 and a beta of -0.80. The company has a 50-day simple moving average of $8.55 and a 200-day simple moving average of $11.09. The company has a debt-to-equity ratio of 0.36, a current ratio of 6.18 and a quick ratio of 6.15.

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

Hedge Funds Weigh In On Atlas Lithium

An institutional investor recently raised its position in Atlas Lithium stock. Cross Staff Investments Inc lifted its holdings in Atlas Lithium Co. (NASDAQ:ATLX) by 71.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 364,804 shares of the company’s stock after buying an additional 152,342 shares during the quarter. Atlas Lithium makes up 1.9% of Cross Staff Investments Inc’s portfolio, making the stock its 9th biggest position. Cross Staff Investments Inc owned approximately 2.46% of Atlas Lithium worth $2,481,000 as of its most recent SEC filing. 18.35% of the stock is owned by institutional investors and hedge funds.

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.