Atlas Lithium (NASDAQ:ATLX) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Atlas Lithium (NASDAQ:ATLX) from a sell rating to a hold rating in a report published on Saturday.

A number of other brokerages also recently weighed in on ATLX. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Atlas Lithium in a report on Monday, December 29th. Zacks Research raised shares of Atlas Lithium to a “hold” rating in a research note on Thursday, February 5th. Finally, HC Wainwright lowered their price objective on shares of Atlas Lithium from $18.00 to $12.00 and set a “buy” rating for the company in a research report on Monday, November 17th. One 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. Based on data from MarketBeat, Atlas Lithium presently has an average rating of “Hold” and a consensus target price of $12.00.

Atlas Lithium Price Performance

ATLX stock opened at $5.04 on Friday. Atlas Lithium has a 52 week low of $3.54 and a 52 week high of $8.25. The business has a 50-day simple moving average of $5.13 and a 200 day simple moving average of $5.07. The company has a market cap of $136.79 million, a PE ratio of -3.21 and a beta of -0.76.

Atlas Lithium (NASDAQ:ATLX) last announced its quarterly earnings data on Wednesday, March 4th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.28. Atlas Lithium had a negative net margin of 9,881.20% and a negative return on equity of 81.11%. The firm had revenue of $0.04 million for the quarter, compared to the consensus estimate of $42.90 million. On average, analysts anticipate that Atlas Lithium will post -2.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ATLX. Prospera Financial Services Inc acquired a new stake in shares of Atlas Lithium in the 4th quarter valued at approximately $42,000. LPL Financial LLC acquired a new position in Atlas Lithium during the 4th quarter worth approximately $43,000. Alps Advisors Inc. bought a new position in Atlas Lithium in the 3rd quarter valued at approximately $57,000. Quadrature Capital Ltd bought a new position in Atlas Lithium in the 4th quarter valued at approximately $61,000. Finally, Virtu Financial LLC acquired a new stake in Atlas Lithium in the third quarter valued at approximately $153,000. Institutional investors 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.