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

Atlas Lithium (NASDAQ:ATLX) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Several other research firms have also recently issued reports on ATLX. Zacks Research raised shares of Atlas Lithium to a “hold” rating in a research report on Thursday, February 5th. HC Wainwright dropped their target price on Atlas Lithium from $18.00 to $12.00 and set a “buy” rating on the stock in a report on Monday, November 17th. Finally, Weiss Ratings restated 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 issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $12.00.

Atlas Lithium Price Performance

Shares of NASDAQ:ATLX opened at $5.04 on Friday. Atlas Lithium has a fifty-two week low of $3.54 and a fifty-two week high of $8.25. The firm’s 50 day moving average price is $5.13 and its 200 day moving average price is $5.07. The stock has a market cap of $136.79 million, a price-to-earnings ratio of -3.21 and a beta of -0.76.

Atlas Lithium (NASDAQ:ATLX) last posted its quarterly earnings results on Wednesday, March 4th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate 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 company had revenue of $0.04 million during the quarter, compared to analysts’ expectations of $42.90 million. On average, equities analysts anticipate that Atlas Lithium will post -2.79 EPS for the current year.

Institutional Trading of Atlas Lithium

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ATLX. Prospera Financial Services Inc purchased a new stake in shares of Atlas Lithium during the 4th quarter worth approximately $42,000. LPL Financial LLC purchased a new position in shares of Atlas Lithium in the 4th quarter valued at $43,000. Alps Advisors Inc. grew its position in shares of 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 buying an additional 11,447 shares during the last quarter. Cross Staff Investments Inc raised its stake in Atlas Lithium by 2.2% during the 3rd quarter. Cross Staff Investments Inc now owns 565,618 shares of the company’s stock worth $2,692,000 after acquiring an additional 12,000 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in Atlas Lithium by 2.0% during the 4th quarter. Marshall Wace LLP now owns 614,259 shares of the company’s stock worth $2,598,000 after acquiring an additional 12,169 shares in the last quarter. 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.