Have Insiders Sold Atlas Lithium Shares Recently?

We'd be surprised if Atlas Lithium Corporation (NASDAQ:ATLX) shareholders haven't noticed that the Independent Director, Robert Roger Noriega, recently sold US$103k worth of stock at US$4.12 per share. However, the silver lining is that the sale only reduced their total holding by 6.6%, so we're hesitant to read anything much into it, on its own.

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The Last 12 Months Of Insider Transactions At Atlas Lithium

In fact, the recent sale by Robert Roger Noriega was the biggest sale of Atlas Lithium shares made by an insider individual in the last twelve months, according to our records. We generally don't like to see insider selling, but the lower the sale price, the more it concerns us. It's of some comfort that this sale was conducted at a price well above the current share price, which is US$4.00. So it may not tell us anything about how insiders feel about the current share price.

Robert Roger Noriega ditched 50.00k shares over the year. The average price per share was US$4.05. 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!

View our latest analysis for Atlas Lithium

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Insider Ownership Of Atlas Lithium

I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. Insiders own 38% of Atlas Lithium shares, worth about US$26m. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.

So What Do The Atlas Lithium Insider Transactions Indicate?

An insider sold Atlas Lithium shares recently, but they didn't buy any. And even if we look at the last year, we didn't see any purchases. Insider ownership isn't particularly high, so this analysis makes us cautious about the company. We'd practice some caution before buying! In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Atlas Lithium. For instance, we've identified 7 warning signs for Atlas Lithium (3 are significant) you should be aware of.

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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.