Atlas Lithium (NASDAQ:ATLX) Upgraded by Wall Street Zen to “Hold” Rating

Atlas Lithium (NASDAQ:ATLX) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Other equities analysts have also recently issued reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Atlas Lithium in a report on Monday, December 29th. Zacks Research upgraded Atlas Lithium to a “hold” rating in a report on Thursday, February 5th. Finally, HC Wainwright cut their target price on shares of Atlas Lithium from $18.00 to $12.00 and set a “buy” rating on the stock in a report on Monday, November 17th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $12.00.

Atlas Lithium Stock Performance

Shares of ATLX stock opened at $5.04 on Friday. The company has a market capitalization of $136.79 million, a PE ratio of -3.21 and a beta of -0.76. Atlas Lithium has a 52-week low of $3.54 and a 52-week high of $8.25. The business’s fifty day moving average is $5.13 and its 200 day moving average is $5.07.

Atlas Lithium (NASDAQ:ATLX) last posted its earnings results on Wednesday, March 4th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.64) by $0.28. Atlas Lithium had a negative return on equity of 81.11% and a negative net margin of 9,881.20%.The business had revenue of $0.04 million during the quarter, compared to analysts’ expectations of $42.90 million. On average, sell-side analysts forecast that Atlas Lithium will post -2.79 EPS for the current fiscal year.

Institutional Trading of Atlas Lithium

A number of large investors have recently made changes to their positions in the business. Invesco Ltd. raised its holdings in Atlas Lithium by 63.0% during the 2nd quarter. Invesco Ltd. now owns 330,005 shares of the company’s stock valued at $1,247,000 after buying an additional 127,531 shares during the period. Marshall Wace LLP purchased a new stake in Atlas Lithium in the 2nd quarter worth about $258,000. First Wilshire Securities Management Inc. lifted its stake in Atlas Lithium by 210.3% in the second quarter. First Wilshire Securities Management Inc. now owns 187,378 shares of the company’s stock worth $708,000 after purchasing an additional 126,994 shares during the last quarter. Cross Staff Investments Inc boosted its holdings in Atlas Lithium by 2.2% during the 3rd quarter. Cross Staff Investments Inc now owns 565,618 shares of the company’s stock valued at $2,692,000 after acquiring an additional 12,000 shares during the period. Finally, Alps Advisors Inc. bought a new position in Atlas Lithium in the 3rd quarter valued at $57,000. 18.35% of the stock is currently owned by 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. The company also owns 100% interests in various mining concessions for gold, diamond, and industrial sand; and early-stage projects and properties in other minerals, such as nickel, copper, rare earths, graphite, and titanium; as well as participates in iron and quartzite projects.