Atlas Engineered Products (CVE:AEP) Stock Price Down 10.1% - Here's Why

Key Points

• Shares of Atlas Engineered Products (CVE:AEP) fell by 10.1% during mid-day trading, reaching a low of C$0.67 before closing at C$0.71, with trading volume significantly increasing to about 649,129 shares.
• Two analysts have set a target price of C$1.50 for Atlas Engineered Products, maintaining a "buy" rating, while the consensus average target price is C$1.58.
• The company, with a market cap of C$49.93 million, specializes in the design and manufacture of engineered wood products for residential and commercial construction.

Shares of Atlas Engineered Products Ltd. (CVE:AEP - Get Free Report) traded down 10.1% during trading on Saturday . The company traded as low as C$0.67 and last traded at C$0.71. 649,129 shares were traded during mid-day trading, an increase of 550% from the average session volume of 99,912 shares. The stock had previously closed at C$0.79.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Raymond James Financial set a C$1.50 price target on Atlas Engineered Products and gave the company a "buy" rating in a research note on Wednesday, May 28th. Desjardins set a C$1.50 target price on Atlas Engineered Products and gave the company a "buy" rating in a research report on Wednesday, May 28th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of C$1.58.

Atlas Engineered Products Stock Performance

The company has a debt-to-equity ratio of 62.14, a current ratio of 4.16 and a quick ratio of 2.31. The stock has a 50-day simple moving average of C$0.85 and a 200-day simple moving average of C$0.87. The stock has a market cap of C$49.93 million, a P/E ratio of 71.00 and a beta of 0.39.

About Atlas Engineered Products

Atlas Engineered Products Ltd. engages in the design, manufacture, and sale of engineered roof trusses, floor trusses, and wall panels in Canada. The company offers floor joists and floor panels; and design, engineering, permitting, project management, and site assembly services. It also distributes a range of engineered wood products for builders of residential and commercial wood-framed buildings, including single-family homes, townhouses, multi-story wood-framed residential buildings, commercial buildings, and agricultural structures.