Atlas Engineered Products (CVE:AEP) Shares Down 10.1% - Here's What Happened

Key Points

• Atlas Engineered Products Ltd. experienced a significant drop in stock price, falling 10.1% during mid-day trading, with shares trading as low as C$0.67.
• Investment analysts have given the stock a consensus rating of "Buy" and set a target price of around C$1.58.
• The company has a strong liquidity position with a current ratio of 4.16 and a quick ratio of 2.31, indicating good short-term financial health.

Atlas Engineered Products Ltd. (CVE:AEP - Get Free Report)'s share price traded down 10.1% during mid-day trading on Saturday . The company traded as low as C$0.67 and last traded at C$0.71. 649,129 shares changed hands 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.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Raymond James Financial set a C$1.50 price target on shares of Atlas Engineered Products and gave the company a "buy" rating in a research note on Wednesday, May 28th. Desjardins dropped their price target on shares of Atlas Engineered Products from C$1.50 to C$1.35 and set a "buy" rating on the stock in a research note on Tuesday. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Atlas Engineered Products has a consensus rating of "Buy" and an average target price of C$1.53.

Atlas Engineered Products Price 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's fifty day moving average price is C$0.85 and its 200-day moving average price is C$0.86. The firm has a market cap of C$48.52 million, a PE ratio of 69.00 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.