Atlantic American Corporation (NASDAQ:AAME) Sees Significant 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 target of a significant drop in short interest during the month of August. As of August 15th, there was short interest totaling 5,800 shares, a drop of 51.7% from the July 31st total of 12,000 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily trading volume, of 26,300 shares, the short-interest ratio is currently 0.2 days. Based on an average daily trading volume, of 26,300 shares, the short-interest ratio is currently 0.2 days. Currently, 0.2% of the shares of the company are sold short.

Atlantic American Trading Down 0.9%

AAME stock traded down $0.03 during midday trading on Wednesday, hitting $3.23. 14,391 shares of the company's stock were exchanged, compared to its average volume of 56,837. The stock has a market capitalization of $65.89 million, a PE ratio of 32.30 and a beta of 0.76. Atlantic American has a 1-year low of $1.25 and a 1-year high of $3.71. The business has a 50-day simple moving average of $2.65 and a two-hundred day simple moving average of $1.99.

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

Analyst Ratings Changes

Separately, Wall Street Zen assumed coverage on shares of Atlantic American in a research report on Wednesday, May 21st. They set a "hold" rating for the company.

Atlantic American Company Profile

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.