Atlas Engineered Products (CVE:AEP) Trading Down 10.1% - Should You Sell?

Key Points

• Atlas Engineered Products (CVE:AEP) experienced a significant decline of 10.1%, trading as low as C$0.67 during mid-day trading on Saturday.
• Wall Street analysts maintain a consensus "Buy" rating for the stock, with a price target of C$1.58, indicating potential growth opportunities.
• The company specializes in the design and manufacture of engineered wood products, with a market capitalization of approximately C$49.93 million.

Atlas Engineered Products Ltd. (CVE:AEP - Get Free Report) traded down 10.1% during mid-day trading on Saturday . The stock 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.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports 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 report on Wednesday, May 28th. Desjardins set a C$1.50 price target on shares of Atlas Engineered Products and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of C$1.58.

Atlas Engineered Products Price Performance

The company's fifty day moving average price is C$0.85 and its 200 day moving average price is C$0.87. The company has a debt-to-equity ratio of 62.14, a quick ratio of 2.31 and a current ratio of 4.16. The firm has a market capitalization of C$49.93 million, a price-to-earnings 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.

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