Atlas Lithium Co. (ATLX) experienced a notable decrease in short interest for August 2024. By August 15, short interest decreased by 18.4%, reaching 322,300 shares from the 394,900 recorded on July 31. With about 4.7% of the company’s stock sold short and an average trading volume of 73,200 shares, the current days-to-cover ratio stands at 4.4.

Atlas Lithium’s Recent Stock Performance

Shares of Atlas Lithium Co. (NASDAQ:ATLX) saw a modest rise of 2.2% during midday trading last Friday, with a closing price of $10.37. The trading volume was 19,347, lower than its average of 78,434. The company’s market capitalization amounts to $153.50 million, marked by a P/E ratio of -2.18 and a beta of -0.73. Its 50-day moving average price stands at $10.75, while the 200-day moving average price is $13.51.

Institutional Investments in Atlas Lithium

Tower Research Capital LLC TRC acquired a new position in Atlas Lithium during the fourth quarter, purchasing 1,061 shares valued at approximately $33,000. Currently, institutional investors and hedge funds hold 18.35% of the company’s stock.

Analyst Ratings for Atlas Lithium

Recent analyst ratings for Atlas Lithium include Roth Mkm lowering its price target from $36.00 to $25.50 with a “buy” rating, while HC Wainwright increased their target price from $40.00 to $41.00, maintaining a “buy” rating.

Company Overview

Atlas Lithium Corporation is engaged in mineral exploration and development in Brazil, operating the Minas Gerais and Northeastern Brazil lithium projects, covering extensive areas within Brazil’s Eastern Pegmatitic Province and the states of Paraíba and Rio Grande do Norte, respectively.

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