Atlas Lithium (NASDAQ:ATLX) Releases Quarterly Earnings Results

Atlas Lithium (NASDAQ:ATLX) posted its quarterly earnings results on Thursday. The company reported ($0.50) earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $0.07 million during the quarter.

Atlas Lithium Trading Up 9.1%

NASDAQ ATLX traded up $0.54 on Friday, hitting $6.46. 1,214,948 shares of the stock were exchanged, compared to its average volume of 845,719. Atlas Lithium has a 52-week low of $3.60 and a 52-week high of $8.25. The company’s 50-day moving average price is $4.78 and its two-hundred day moving average price is $4.88.

Insiders Place Their Bets

In other Atlas Lithium news, CFO Tiago Miranda sold 5,831 shares of Atlas Lithium stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $5.03, for a total transaction of $29,329.93. Following the transaction, the chief financial officer directly owned 30,000 shares in the company, valued at approximately $150,900. The trade was a 16.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 22.80% of the company’s stock.

Hedge Funds Weigh In On Atlas Lithium

Several institutional investors and hedge funds have recently added to or reduced their stakes in ATLX. Cross Staff Investments Inc grew its holdings in shares of Atlas Lithium by 0.7% during the 1st quarter. Cross Staff Investments Inc now owns 558,718 shares of the company’s stock valued at $2,430,000 after acquiring an additional 4,000 shares in the last quarter. Prospera Financial Services Inc purchased a new position in shares of Atlas Lithium during the 4th quarter valued at $42,000. LPL Financial LLC purchased a new position in shares of Atlas Lithium during the 4th quarter valued at $43,000. Alps Advisors Inc. grew its holdings in shares of Atlas Lithium by 95.7% during the 4th quarter. Alps Advisors Inc. now owns 23,413 shares of the company’s stock valued at $99,000 after acquiring an additional 11,447 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of Atlas Lithium by 2.0% during the 4th quarter. Marshall Wace LLP now owns 614,259 shares of the company’s stock valued at $2,598,000 after acquiring an additional 12,169 shares in the last quarter. 18.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ATLX. Wall Street Zen raised Atlas Lithium from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Zacks Research raised Atlas Lithium to a “hold” rating in a report on Thursday, February 5th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Atlas Lithium currently has an average rating of “Hold” and an average target price of $12.00.

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. 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.