AtlasClear (NYSEAMERICAN:ATCH) Issues Earnings Results

AtlasClear (NYSEAMERICAN:ATCH) released its earnings results on Wednesday. The company reported ($0.01) earnings per share for the quarter, FiscalAI reports. The company had revenue of $2.79 million during the quarter. AtlasClear had a net margin of 12.08% and a return on equity of 90.79%.

AtlasClear Price Performance

Shares of ATCH stock traded down $0.01 during trading on Wednesday, reaching $0.24. 2,231,310 shares of the company’s stock traded hands, compared to its average volume of 4,384,967. The firm’s 50-day moving average is $0.24 and its 200 day moving average is $0.27. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.56 and a current ratio of 1.56. AtlasClear has a 1 year low of $0.14 and a 1 year high of $1.92.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ATCH. Litchfield Hills Research began coverage on shares of AtlasClear in a research note on Monday, April 6th. They issued a “buy” rating and a $1.00 target price on the stock. Zacks Research upgraded shares of AtlasClear to a “hold” rating in a research note on Tuesday, April 7th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, AtlasClear currently has an average rating of “Moderate Buy” and a consensus target price of $1.00.

Hedge Funds Weigh In On AtlasClear

Several hedge funds have recently bought and sold shares of the company. Virtu Financial LLC grew its stake in AtlasClear by 44.1% during the fourth quarter. Virtu Financial LLC now owns 400,289 shares of the company’s stock valued at $100,000 after acquiring an additional 122,410 shares in the last quarter. Jane Street Group LLC grew its stake in AtlasClear by 1,823.2% during the fourth quarter. Jane Street Group LLC now owns 921,251 shares of the company’s stock valued at $231,000 after acquiring an additional 873,348 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of AtlasClear by 740.6% in the 4th quarter. Geode Capital Management LLC now owns 1,179,315 shares of the company’s stock valued at $296,000 after acquiring an additional 1,039,013 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of AtlasClear by 42.8% in the 4th quarter. HighTower Advisors LLC now owns 813,900 shares of the company’s stock valued at $204,000 after acquiring an additional 243,900 shares in the last quarter. Finally, Diversify Wealth Management LLC purchased a new stake in shares of AtlasClear in the 3rd quarter valued at about $31,000. Hedge funds and other institutional investors own 47.57% of the company’s stock.

About AtlasClear

AtlasClear, Inc (NYSE American: ATCH) is a financial technology and market-services company focused on the execution and clearing of equity-linked derivatives in the United States. Through its registered broker-dealer and clearing subsidiary, Atlas Clearing, LLC, the firm operates a dedicated trading venue for covered warrants and warrant-like instruments. The platform is designed to deliver efficient trade execution, enhanced liquidity and robust price discovery for institutional investors.

The company’s core offerings include proprietary market-making strategies, electronic order matching and centralized post-trade clearing services.