Atlas Lithium (NASDAQ:ATLX) has experienced a significant decrease in short interest over August. As of August 15th, the short interest for Atlas Lithium totaled 322,300 shares, marking a significant drop of 18.4% from the July 31st figure of 394,900 shares. With an average daily trading volume of 73,200 shares, the current days-to-cover ratio stands at 4.4 days. As of now, approximately 4.7% of the company’s shares are sold short.

Institutional Investment in Atlas Lithium

Institutional investors show interest in Atlas Lithium, with a hedge fund recently acquiring a new stake. Tower Research Capital LLC TRC bought 1,061 shares in the fourth quarter, valuing the stock’s acquisition at around $33,000. Presently, about 18.35% of Atlas Lithium’s shares are owned by institutional investors and hedge funds.

Analyst Ratings and Stock Performance

Analyst ratings have been mixed for Atlas Lithium. Roth Mkm reduced their price target from $36.00 to $25.50, maintaining a ‘buy’ rating. Conversely, HC Wainwright raised their price objective to $41.00, also recommending a ‘buy’.

Stock Performance Overview

On a recent trading day, Atlas Lithium shares rose by $0.22, reaching $10.37. The trading volume registered at 16,350 shares compared to an average of 78,416 shares. The company has a debt-to-equity ratio of 3.74, a quick ratio of 2.75, and a current ratio of 2.76. The market cap is valued at around $153.50 million, with a PE ratio of -2.18 and a beta of -0.73. The stock has fluctuated between a 12-month low of $8.37 and a high of $34.00.

About Atlas Lithium

Atlas Lithium is a mineral exploration and development company operating predominantly in Brazil. It manages the Minas Gerais lithium project, involving 54 mineral rights covering 59,275 acres within the Brazilian Eastern Pegmatitic Province. It also oversees the Northeastern Brazil lithium project, consisting of 7 mineral rights over 16,266 acres in the States of Paraíba and Rio Grande do Norte.

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