FY2024 EPS Estimates for Atlas Lithium Decreased by Analyst

Atlas Lithium Co. (NASDAQ:ATLX) – Research analysts at Roth Capital cut their FY2024 earnings estimates for shares of Atlas Lithium in a note issued to investors on Wednesday, October 30th. Roth Capital analyst J. Reagor now expects that the company will earn ($3.09) per share for the year, down from their prior estimate of ($2.93). The consensus estimate for Atlas Lithium’s current full-year earnings is ($2.86) per share.

ATLX has been the topic of several other reports. Roth Mkm lowered their target price on shares of Atlas Lithium from $36.00 to $25.50 and set a “buy” rating on the stock in a research note on Friday, July 26th. HC Wainwright reissued a “buy” rating and issued a $19.00 price target on shares of Atlas Lithium in a report on Tuesday.

Atlas Lithium Stock Performance

Shares of ATLX stock opened at $9.66 on Friday. Atlas Lithium has a 12 month low of $6.25 and a 12 month high of $34.00. The company has a current ratio of 6.18, a quick ratio of 6.15 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $147.32 million, a P/E ratio of -2.11 and a beta of -0.80. The firm’s 50 day moving average is $8.55 and its 200 day moving average is $11.09.

Atlas Lithium (NASDAQ:ATLX) last released its earnings results on Friday, August 9th. The company reported ($0.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.15). The firm had revenue of $0.18 million for the quarter.

Hedge Funds Weigh In On Atlas Lithium

A hedge fund recently raised its stake in Atlas Lithium stock. Cross Staff Investments Inc lifted its stake in shares of Atlas Lithium Co. (NASDAQ:ATLX) by 71.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 364,804 shares of the company’s stock after buying an additional 152,342 shares during the quarter. Atlas Lithium comprises 1.9% of Cross Staff Investments Inc’s portfolio, making the stock its 9th largest position. Cross Staff Investments Inc owned approximately 2.46% of Atlas Lithium worth $2,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 18.35% of the stock is currently owned by hedge funds and other institutional investors.

About Atlas Lithium

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.