Have Insiders Sold Atlas Lithium Shares Recently?

We note that the Atlas Lithium Corporation (NASDAQ:ATLX) Independent Director, Robert Roger Noriega, recently sold US$75k worth of stock for US$5.03 per share. On the bright side, that's just a small sale and only reduced their holding by 5.4%.

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Atlas Lithium Insider Transactions Over The Last Year

In fact, the recent sale by Independent Director Robert Roger Noriega was not their only sale of Atlas Lithium shares this year. They previously made an even bigger sale of -US$103k worth of shares at a price of US$4.45 per share. That means that an insider was selling shares at slightly below the current price (US$5.07). When an insider sells below the current price, it suggests that they considered that lower price to be fair. That makes us wonder what they think of the (higher) recent valuation. Please do note, however, that sellers may have a variety of reasons for selling, so we don't know for sure what they think of the stock price. We note that the biggest single sale was only 6.6% of Robert Roger Noriega's holding.

Robert Roger Noriega ditched 65.00k shares over the year. The average price per share was US$4.28. The chart below shows insider transactions (by companies and individuals) over the last year. By clicking on the graph below, you can see the precise details of each insider transaction!

See our latest analysis for Atlas Lithium

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Insider Ownership Of Atlas Lithium

Many investors like to check how much of a company is owned by insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. It appears that Atlas Lithium insiders own 24% of the company, worth about US$29m. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders.

So What Do The Atlas Lithium Insider Transactions Indicate?

An insider sold Atlas Lithium shares recently, but they didn't buy any. And there weren't any purchases to give us comfort, over the last year. Insider ownership isn't particularly high, so this analysis makes us cautious about the company. We're in no rush to buy! So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. Be aware that Atlas Lithium is showing 6 warning signs in our investment analysis, and 2 of those are concerning...

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For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.