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

Atlas Engineered Products Ltd. (CVE:AEP)’s stock price was down 5.5% during mid-day trading on Thursday . The stock traded as low as C$1.19 and last traded at C$1.20. Approximately 178,720 shares changed hands during trading, an increase of 47% from the average daily volume of 121,948 shares. The stock had previously closed at C$1.27.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AEP shares. Cormark dropped their target price on Atlas Engineered Products from C$2.20 to C$2.10 in a research report on Tuesday, August 20th. Raymond James set a C$2.25 target price on Atlas Engineered Products and gave the stock a “strong-buy” rating in a research report on Thursday, September 12th.

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 company has a market cap of C$70.35 million, a PE ratio of 17.00 and a beta of 1.13. The stock has a 50-day moving average of C$1.31 and a 200-day moving average of C$1.36.

Atlas Engineered Products (CVE:AEP) last released its earnings results on Friday, August 16th. The company reported C$0.01 EPS for the quarter. The business had revenue of C$15.09 million for the quarter, compared to analysts’ expectations of C$13.95 million. Atlas Engineered Products had a return on equity of 3.90% and a net margin of 2.90%. Sell-side analysts predict that Atlas Engineered Products Ltd. will post 0.1050521 earnings per share for the current fiscal year.

Insider Transactions at Atlas Engineered Products

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 shares were sold at an average price of C$1.30, for a total transaction 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.