Atlas Lithium (NASDAQ:ATLX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Atlas Lithium (NASDAQ:ATLX) from a sell rating to a hold rating in a research note released on Saturday morning.

Several other research firms have also recently weighed in on ATLX. Zacks Research upgraded shares of Atlas Lithium to a “hold” rating in a research report on Thursday, February 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Atlas Lithium in a research report on Monday, December 29th. One equities 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 company’s stock. According to data from MarketBeat, Atlas Lithium has a consensus rating of “Hold” and a consensus target price of $12.00.

Atlas Lithium Stock Performance

ATLX stock opened at $4.50 on Friday. The company has a fifty day moving average price of $4.73 and a 200-day moving average price of $4.99. The company has a market capitalization of $122.13 million, a P/E ratio of -2.87 and a beta of -0.40. Atlas Lithium has a 52-week low of $3.60 and a 52-week high of $8.25.

Atlas Lithium (NASDAQ:ATLX) last released its quarterly earnings results on Wednesday, March 4th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.64) by $0.28. The business had revenue of $0.04 million for the quarter, compared to the consensus estimate of $42.90 million. As a group, sell-side analysts forecast that Atlas Lithium will post -2.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Atlas Lithium

Large investors have recently added to or reduced their stakes in the business. Prospera Financial Services Inc acquired a new stake in Atlas Lithium during the fourth quarter worth approximately $42,000. LPL Financial LLC acquired a new stake in Atlas Lithium in the fourth quarter worth $43,000. Alps Advisors Inc. acquired a new stake in Atlas Lithium in the third quarter worth $57,000. Quadrature Capital Ltd acquired a new stake in Atlas Lithium in the fourth quarter worth $61,000. Finally, Virtu Financial LLC acquired a new stake in Atlas Lithium in the third quarter worth $153,000. Institutional investors and hedge funds own 18.35% of the company’s stock.

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.