American Lithium Corp. (NASDAQ:AMLI) Sees Large Growth in Short Interest

American Lithium Corp. (NASDAQ:AMLI) saw a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 1,810,000 shares, a growth of 7.1% from the March 15th total of 1,690,000 shares. Based on an average daily trading volume, of 452,800 shares, the days-to-cover ratio is presently 4.0 days. Currently, 0.9% of the shares of the stock are short sold.

American Lithium Price Performance

NASDAQ:AMLI opened at $0.63 on Tuesday. The business has a 50 day moving average of $0.72 and a 200 day moving average of $1.00. The company has a market capitalization of $137.04 million, a price-to-earnings ratio of -3.94 and a beta of 1.51. American Lithium has a 1-year low of $0.61 and a 1-year high of $2.33.

American Lithium (NASDAQ:AMLI) last released its earnings results on Tuesday, January 16th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). As a group, sell-side analysts anticipate that American Lithium will post -0.12 EPS for the current year.

Institutional Trading of American Lithium

A number of hedge funds have recently bought and sold shares of AMLI. Mirae Asset Global Investments Co. Ltd. lifted its position in American Lithium by 11.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,664,201 shares of the company’s stock worth $16,910,000 after buying an additional 1,168,422 shares during the last quarter. Bank of America Corp DE bought a new stake in American Lithium in the first quarter valued at approximately $1,419,000. JPMorgan Chase & Co. lifted its position in American Lithium by 256.9% in the second quarter. JPMorgan Chase & Co. now owns 666,263 shares of the company’s stock valued at $1,932,000 after purchasing an additional 479,561 shares during the last quarter. BlackRock Inc. bought a new stake in American Lithium in the second quarter valued at approximately $769,000. Finally, Smith Anglin Financial LLC bought a new stake in American Lithium in the third quarter valued at approximately $214,000. Institutional investors own 7.70% of the company’s stock.

About American Lithium

American Lithium Corp., an exploration and development stage company, engages in the acquisition, exploration, and development of resource properties in the United States. It principally focuses on the TLC Lithium Project located in the town of Tonopah, Nevada; and the Falchani Lithium project and the Macusani Uranium project located in Puno, Peru.