Short Interest in American Lithium Corp. (NASDAQ:AMLI) Drops By 5.3%

American Lithium Corp. (NASDAQ:AMLI) saw a significant drop in short interest in August. As of August 15th, there was short interest totalling 1,080,000 shares, a drop of 5.3% from the July 31st total of 1,140,000 shares. Approximately 0.5% of the shares of the company are short sold. Based on an average trading volume of 229,900 shares, the days-to-cover ratio is currently 4.7 days.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on AMLI shares. Roth Mkm reduced their price target on American Lithium from $5.50 to $3.25 and set a “buy” rating for the company in a research report on Friday, June 28th. National Bank Financial upgraded American Lithium to a “strong-buy” rating in a research report on Wednesday, June 5th.

Hedge Funds Weigh In On American Lithium

A hedge fund recently bought a new stake in American Lithium stock. Clarity Capital Partners LLC purchased a new stake in American Lithium Corp. (NASDAQ:AMLI) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 144,726 shares of the company’s stock, valued at approximately $159,000. Clarity Capital Partners LLC owned about 0.07% of American Lithium as of its most recent SEC filing. 7.70% of the stock is owned by institutional investors.

American Lithium Price Performance

American Lithium stock opened at $0.39 on Thursday. American Lithium has a 12 month low of $0.35 and a 12 month high of $1.73. The stock has a market capitalization of $83.76 million, a PE ratio of -2.75 and a beta of 1.52. The business has a 50 day simple moving average of $0.47 and a 200-day simple moving average of $0.60.

American Lithium (NASDAQ:AMLI) last issued its quarterly earnings results on Monday, July 15th. The company reported ($0.02) EPS for the quarter. On average, equities research analysts anticipate that American Lithium will post -0.12 EPS for the current fiscal year.

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.