Atlas Lithium (NASDAQ:ATLX) Announces Quarterly Earnings Results

Atlas Lithium (NASDAQ:ATLX) released its quarterly earnings data on Friday. The company reported ($0.35) EPS for the quarter, Zacks reports.

Atlas Lithium Stock Up 1.9%

Atlas Lithium stock opened at $3.21 on Friday. The firm has a market cap of $94.67 million, a P/E ratio of -2.06 and a beta of 0.02. The business has a fifty day moving average of $3.30 and a two-hundred day moving average of $4.27. Atlas Lithium has a twelve month low of $2.55 and a twelve month high of $8.25.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ATLX shares. Wall Street Zen cut Atlas Lithium from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. HC Wainwright restated a “buy” rating and set a $12.50 price target on shares of Atlas Lithium in a research note on Tuesday, June 30th. Finally, Weiss Ratings lowered Atlas Lithium from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Atlas Lithium presently has a consensus rating of “Hold” and a consensus price target of $12.50.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ATLX. LPL Financial LLC purchased a new stake in shares of Atlas Lithium during the 4th quarter worth $43,000. Alps Advisors Inc. grew its stake in Atlas Lithium by 95.7% in the fourth 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 during the last quarter. Marshall Wace LLP grew its stake in Atlas Lithium by 2.0% in the fourth quarter. Marshall Wace LLP now owns 614,259 shares of the company’s stock valued at $2,598,000 after purchasing an additional 12,169 shares during the last quarter. Quadrature Capital Ltd bought a new position in Atlas Lithium in the fourth quarter worth about $61,000. Finally, Goldman Sachs Group Inc. raised its holdings in Atlas Lithium by 123.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 50,255 shares of the company’s stock worth $213,000 after purchasing an additional 27,801 shares in the last quarter. 18.35% of the stock is owned by institutional investors.

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.