Alpha Technology Group (NASDAQ:ATGL) Shares Down 4.2% - Here's What Happened

Key Points

• Shares fell 4.2% to $13.51 on Wednesday, trading as low as $13.51 with volume of ~2,000 shares (up 168% vs. the 747-share average) after a prior close of $14.10.
• Analyst sentiment is negative: Weiss Ratings reiterated a "sell (e+)" and the stock's MarketBeat average rating is "Sell" (one analyst coverage reported).
• Recent results were weak — the company reported EPS of -$0.23 and revenue of $0.28 million for the quarter — and the stock sits well below its 50‑day ($16.07) and 200‑day ($19.54) moving averages.

Alpha Technology Group Limited (NASDAQ:ATGL - Get Free Report)'s stock price dropped 4.2% on Wednesday . The stock traded as low as $13.51 and last traded at $13.51. Approximately 2,000 shares traded hands during trading, an increase of 168% from the average daily volume of 747 shares. The stock had previously closed at $14.10.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a "sell (e+)" rating on shares of Alpha Technology Group in a research report on Monday, February 2nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of "Sell".

Alpha Technology Group Stock Performance

The firm has a 50 day moving average price of $16.07 and a 200 day moving average price of $19.54.

Alpha Technology Group (NASDAQ:ATGL - Get Free Report) last announced its quarterly earnings results on Saturday, January 31st. The company reported ($0.23) EPS for the quarter. The firm had revenue of $0.28 million during the quarter.

About Alpha Technology Group

Alpha Technology Group Limited, through its subsidiaries, provides cloud-based information technology services in Hong Kong. The company primarily offers cloud-based and customized customer relationship management and enterprise resource planning systems; web and mobile application development services; artificial intelligence powered optical character recognition services; and technological support and maintenance, and other services, such as maintaining and enhancing services for systems. It serves customers from various industries, including consulting, real estate, architectural design, carpark management, electronic payment services, logistics, investments, retail, textiles, wholesale and distribution, social services, etc.

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