Atlantic International (NASDAQ:CIRC) Trading Down 5.1% – What’s Next?

Atlantic International Corp. (NASDAQ:CIRC)’s share price traded down 5.1% on Friday . The stock traded as low as $0.5323 and last traded at $0.5439. Approximately 390,122 shares were traded during trading, a decline of 58% from the average session volume of 934,850 shares. The stock had previously closed at $0.5730.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut Atlantic International from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Atlantic International currently has a consensus rating of “Hold”.

Atlantic International Trading Down 5.1%

The business has a 50-day moving average price of $0.70. The company has a market capitalization of $50.27 million, a P/E ratio of -0.26 and a beta of 0.81. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.39 and a quick ratio of 0.39.

Atlantic International (NASDAQ:CIRC) last issued its quarterly earnings data on Wednesday, August 19th. The company reported ($0.98) earnings per share (EPS) for the quarter. The firm had revenue of $319.81 million during the quarter.

Insider Buying and Selling

In other news, CEO Guus Paul Wilhelm Franke sold 308,783 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $1.00, for a total transaction of $308,783.00. Following the sale, the chief executive officer owned 12,207,287 shares of the company’s stock, valued at $12,207,287. This trade represents a 2.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 7.60% of the company’s stock.

Institutional Trading of Atlantic International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CIRC. Bank of New York Mellon Corp acquired a new position in shares of Atlantic International in the first quarter worth about $31,000. New York State Common Retirement Fund purchased a new position in shares of Atlantic International in the 2nd quarter valued at about $97,000. Deutsche Bank AG raised its holdings in Atlantic International by 232.1% in the 4th quarter. Deutsche Bank AG now owns 50,817 shares of the company’s stock worth $68,000 after purchasing an additional 35,513 shares during the period. Strs Ohio boosted its position in Atlantic International by 54.4% during the first quarter. Strs Ohio now owns 53,900 shares of the company’s stock worth $163,000 after purchasing an additional 19,000 shares in the last quarter. Finally, State Street Corp boosted its position in Atlantic International by 9.4% during the fourth quarter. State Street Corp now owns 103,859 shares of the company’s stock worth $138,000 after purchasing an additional 8,959 shares in the last quarter.

About Atlantic International

Atlantic International Corp. is a specialty staffing and workforce solutions company that provides professional and administrative talent to clients across a range of industries. Through its operating businesses, the company focuses on connecting employers with qualified candidates for temporary, temp-to-perm, and permanent placement needs.

The company’s services are generally centered on staffing, recruitment, and workforce management support, helping organizations address labor shortages and staffing fluctuations.