Atlas Lithium (NASDAQ:ATLX) Price Target Raised to $41.00 at HC Wainwright

Atlas Lithium (NASDAQ:ATLX) had its price objective hoisted by equities research analysts at HC Wainwright from $40.00 to $41.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target suggests a potential upside of 273.41% from the stock’s current price.

ATLX has been the topic of a number of other research reports. Alliance Global Partners decreased their target price on shares of Atlas Lithium from $75.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday, April 2nd. Roth Mkm lowered their price objective on Atlas Lithium from $39.00 to $36.00 and set a “buy” rating on the stock in a research report on Monday, April 1st.

Atlas Lithium Stock Down 3.4 %

Shares of Atlas Lithium stock opened at $10.98 on Tuesday. The company has a debt-to-equity ratio of 3.74, a current ratio of 2.76 and a quick ratio of 2.75. The firm has a market cap of $162.50 million, a price-to-earnings ratio of -2.31 and a beta of -0.73. The company has a 50-day moving average of $13.21 and a 200 day moving average of $17.51. Atlas Lithium has a 1 year low of $9.30 and a 1 year high of $34.00.

Atlas Lithium (NASDAQ:ATLX) last announced its quarterly earnings results on Wednesday, May 15th. The company reported ($1.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.56). The firm had revenue of $0.19 million for the quarter. As a group, sell-side analysts anticipate that Atlas Lithium will post -2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Atlas Lithium stock. Cross Staff Investments Inc lifted its stake in Atlas Lithium Co. (NASDAQ:ATLX) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 215,612 shares of the company’s stock after purchasing an additional 2,400 shares during the quarter. Atlas Lithium comprises 6.0% of Cross Staff Investments Inc’s portfolio, making the stock its 2nd biggest holding. Cross Staff Investments Inc owned about 2.00% of Atlas Lithium worth $6,744,000 as of its most recent filing with the SEC. 18.35% of the stock is currently owned by institutional investors and hedge funds.

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.