HC Wainwright Equities Analysts Reduce Earnings Estimates for Atlas Lithium Co. (NASDAQ:ATLX)

Atlas Lithium Co. (NASDAQ:ATLXFree Report) – Stock analysts at HC Wainwright dropped their FY2024 earnings per share estimates for Atlas Lithium in a research note issued on Monday, April 1st. HC Wainwright analyst H. Ihle now expects that the company will post earnings of ($1.66) per share for the year, down from their prior estimate of ($1.64). HC Wainwright currently has a “Buy” rating and a $40.00 target price on the stock. The consensus estimate for Atlas Lithium’s current full-year earnings is ($1.56) per share.

A number of other analysts have also issued reports on the company. Alliance Global Partners dropped their target price on Atlas Lithium from $75.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday. Roth Mkm lowered their price objective on Atlas Lithium from $39.00 to $36.00 and set a “buy” rating for the company in a report on Monday.

Read Our Latest Research Report on Atlas Lithium

Atlas Lithium Stock Down 3.5 %

Shares of NASDAQ ATLX opened at $18.63 on Wednesday. Atlas Lithium has a 1 year low of $11.80 and a 1 year high of $45.00. The firm has a market cap of $237.91 million, a price-to-earnings ratio of -4.59 and a beta of -1.13. The company has a debt-to-equity ratio of 1.04, a quick ratio of 5.24 and a current ratio of 5.24. The stock’s 50-day simple moving average is $17.33 and its 200-day simple moving average is $23.33.

Hedge Funds Weigh In On Atlas Lithium

Several institutional investors have recently made changes to their positions in ATLX. Barclays PLC bought a new position in shares of Atlas Lithium during the second quarter valued at approximately $28,000. ExodusPoint Capital Management LP bought a new position in shares of Atlas Lithium during the second quarter valued at approximately $567,000. BlackRock Inc. bought a new position in shares of Atlas Lithium during the second quarter valued at approximately $721,000. Waratah Capital Advisors Ltd. bought a new position in shares of Atlas Lithium during the second quarter valued at approximately $8,525,000. Finally, State Street Corp bought a new position in Atlas Lithium in the 2nd quarter worth approximately $339,000. 18.35% of the stock is owned by institutional investors.

About Atlas Lithium

(Get Free Report)

Atlas Lithium Corporation operates as a mineral exploration and mining 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.

Recommended Stories

Receive News & Ratings for Atlas Lithium Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Atlas Lithium and related companies with MarketBeat.com's FREE daily email newsletter.