Atlantic American Corporation (NASDAQ:AAME) Sees Large Decline in Short Interest

Key Points

• Atlantic American Corporation experienced a significant decline in short interest, with a drop of 51.7% from 12,000 shares to 5,800 shares as of August 15th.
• The company’s stock opened at $3.34 and has a market capitalization of $68.14 million, with a 52-week high of $3.71 and a low of $1.25.
• Analysts at Wall Street Zen have initiated coverage on Atlantic American with a "hold" rating as of May 21st.

Atlantic American Corporation (NASDAQ:AAME - Get Free Report) was the recipient of a large drop in short interest in the month of August. As of August 15th, there was short interest totaling 5,800 shares, adropof51.7% from the July 31st total of 12,000 shares. Based on an average daily volume of 26,300 shares, the days-to-cover ratio is currently 0.2 days. Approximately0.2% of the company's stock are short sold. Approximately0.2% of the company's stock are short sold. Based on an average daily volume of 26,300 shares, the days-to-cover ratio is currently 0.2 days.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen started coverage on Atlantic American in a research note on Wednesday, May 21st. They issued a "hold" rating on the stock.

Atlantic American Stock Performance

NASDAQ:AAME opened at $3.34 on Friday. Atlantic American has a 52-week low of $1.25 and a 52-week high of $3.71. The company has a market cap of $68.14 million, a P/E ratio of 33.40 and a beta of 0.76. The stock's 50-day simple moving average is $2.57 and its 200 day simple moving average is $1.94.

Atlantic American (NASDAQ:AAME - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The financial services provider reported $0.07 earnings per share (EPS) for the quarter. Atlantic American had a return on equity of 0.38% and a net margin of 1.27%.

About Atlantic American

Atlantic American Corporation, through its subsidiaries, provides life and health, and property and casualty insurance products in the United States. It operates through American Southern and Bankers Fidelity segments. The company offers property and casualty insurance products, including commercial automobile insurance coverage for state governments, local municipalities, and other motor pools and fleets; general liability; and inland marine insurance products.

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