Atlas Lithium (NASDAQ:ATLX) Posts Earnings Results

Atlas Lithium (NASDAQ:ATLX) issued its quarterly earnings results on Wednesday. The company reported ($0.36) earnings per share (EPS) for the quarter, FiscalAI reports. Atlas Lithium had a negative net margin of 9,881.20% and a negative return on equity of 120.64%. The company had revenue of $0.04 million during the quarter.

Atlas Lithium Trading Down 2.2%

NASDAQ:ATLX opened at $4.99 on Thursday. Atlas Lithium has a 1 year low of $3.54 and a 1 year high of $8.25. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.61 and a current ratio of 3.69. The stock has a fifty day moving average price of $5.12 and a two-hundred day moving average price of $5.08. The stock has a market capitalization of $120.01 million, a price-to-earnings ratio of -2.59 and a beta of -0.76.

Analyst Upgrades and Downgrades

ATLX has been the topic of a number of recent research reports. Zacks Research raised Atlas Lithium to a “hold” rating in a report on Thursday, February 5th. HC Wainwright lowered their price objective on shares of Atlas Lithium from $18.00 to $12.00 and set a “buy” rating on the stock in a research report on Monday, November 17th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Atlas Lithium in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $12.00.

Institutional Trading of Atlas Lithium

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Prospera Financial Services Inc acquired a new position in Atlas Lithium during the fourth quarter worth about $42,000. LPL Financial LLC acquired a new stake in shares of Atlas Lithium in the 4th quarter worth approximately $43,000. Alps Advisors Inc. increased its stake in Atlas Lithium by 95.7% in the 4th quarter. Alps Advisors Inc. now owns 23,413 shares of the company’s stock valued at $99,000 after purchasing an additional 11,447 shares in the last quarter. Cross Staff Investments Inc raised its holdings in Atlas Lithium by 2.2% during the third quarter. Cross Staff Investments Inc now owns 565,618 shares of the company’s stock worth $2,692,000 after purchasing an additional 12,000 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in Atlas Lithium by 2.0% during the fourth quarter. Marshall Wace LLP now owns 614,259 shares of the company’s stock worth $2,598,000 after purchasing an additional 12,169 shares during the last quarter. Institutional investors and hedge funds 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. 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.