Atlas Engineered Products (CVE:AEP) Trading Down 5.5% – Here’s What Happened

Atlas Engineered Products Ltd. (CVE:AEP) traded down 5.5% during trading on Thursday . The stock traded as low as C$1.19 and last traded at C$1.20. 178,720 shares were traded during trading, an increase of 47% from the average session volume of 121,948 shares. The stock had previously closed at C$1.27.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Raymond James set a C$2.25 target price on Atlas Engineered Products and gave the stock a “strong-buy” rating in a research note on Thursday, September 12th. Cormark reduced their price objective on Atlas Engineered Products from C$2.20 to C$2.10 in a research note on Tuesday, August 20th.

Atlas Engineered Products Stock Down 0.8 %

The company has a quick ratio of 2.31, a current ratio of 4.16 and a debt-to-equity ratio of 62.14. The stock has a 50 day simple moving average of C$1.31 and a 200 day simple moving average of C$1.36. The stock has a market cap of C$70.35 million, a price-to-earnings ratio of 17.00 and a beta of 1.13.

Atlas Engineered Products (CVE:AEP) last posted its earnings results on Friday, August 16th. The company reported C$0.01 earnings per share for the quarter. Atlas Engineered Products had a return on equity of 3.90% and a net margin of 2.90%. The company had revenue of C$15.09 million for the quarter, compared to analyst estimates of C$13.95 million. As a group, analysts expect that Atlas Engineered Products Ltd. will post 0.1050521 earnings per share for the current fiscal year.

Insider Activity

In other Atlas Engineered Products news, Director Mohammad Hadi Abassi sold 195,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of C$1.30, for a total value of C$253,500.00. Corporate insiders own 14.49% of the company’s stock.

About Atlas Engineered Products

Atlas Engineered Products Ltd. engages in the design, manufacture, and sale of engineered roof trusses, floor trusses, and wall panels in Canada. The company offers floor joists and floor panels; and design, engineering, permitting, project management, and site assembly services. It also distributes a range of engineered wood products for builders of residential and commercial wood-framed buildings, including single-family homes, townhouses, multi-story wood-framed residential buildings, commercial buildings, and agricultural structures.