Atlas Lithium (NASDAQ:ATLX) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Atlas Lithium (NASDAQ:ATLX) to a hold rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other equities analysts have also recently weighed in on the company. HC Wainwright cut their price objective on Atlas Lithium from $18.00 to $12.00 and set a “buy” rating for the company in a research report on Monday, November 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Atlas Lithium in a research note on Monday, December 29th. One equities research 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 data from MarketBeat, Atlas Lithium has a consensus rating of “Hold” and a consensus target price of $12.00.

Atlas Lithium Stock Performance

Shares of ATLX opened at $4.72 on Thursday. Atlas Lithium has a 52-week low of $3.54 and a 52-week high of $8.25. The firm has a market capitalization of $113.52 million, a PE ratio of -2.45 and a beta of -0.76. The firm has a 50-day moving average price of $4.95 and a 200 day moving average price of $5.15. The company has a quick ratio of 3.61, a current ratio of 3.69 and a debt-to-equity ratio of 0.28.

Atlas Lithium (NASDAQ:ATLX) last released its earnings results on Thursday, November 13th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.64) by $0.29. Atlas Lithium had a negative net margin of 9,881.20% and a negative return on equity of 120.64%. On average, sell-side analysts anticipate that Atlas Lithium will post -2.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Atlas Lithium

Hedge funds have recently added to or reduced their stakes in the business. Alps Advisors Inc. bought a new position in Atlas Lithium during the 3rd quarter worth $57,000. Cross Staff Investments Inc increased its stake in Atlas Lithium by 2.2% in the third quarter. Cross Staff Investments Inc now owns 565,618 shares of the company’s stock valued at $2,692,000 after acquiring an additional 12,000 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Atlas Lithium in the 3rd quarter valued at $153,000. Marshall Wace LLP bought a new position in Atlas Lithium in the second quarter valued at about $258,000. Finally, Connective Capital Management LLC acquired a new stake in Atlas Lithium in the third quarter valued at approximately $405,000. 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. 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.