First Acceptance (OTCMKTS:FACO) Stock Price Down 2.7% - Here's What Happened

Key Points

• First Acceptance Corporation's stock price decreased by 2.7%, closing at $3.60 after trading as low as $3.48 with a significant increase in trading volume of 242% compared to average levels.
• The company's recent earnings report showed earnings per share (EPS) of $0.21, a net margin of 4.66%, and revenue of $140.66 million for the quarter.
• First Acceptance focuses on non-standard automobile insurance for individuals who may struggle to secure coverage from standard carriers due to various factors.

Shares of First Acceptance Corporation (OTCMKTS:FACO - Get Free Report) were down 2.7% on Friday . The company traded as low as $3.48 and last traded at $3.60. Approximately 4,800 shares were traded during trading, an increase of 242% from the average daily volume of 1,403 shares. The stock had previously closed at $3.70.

First Acceptance Stock Up 1.1%

The company has a debt-to-equity ratio of 0.24, a current ratio of 0.62 and a quick ratio of 0.62. The firm has a market cap of $130.07 million, a PE ratio of 5.55 and a beta of -0.12. The business has a fifty day moving average price of $3.43 and a two-hundred day moving average price of $3.42.

First Acceptance (OTCMKTS:FACO - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.21 earnings per share for the quarter. The business had revenue of $140.66 million for the quarter. First Acceptance had a return on equity of 14.50% and a net margin of 4.66%.

First Acceptance Company Profile

First Acceptance Corporation, together with its subsidiaries, operates as a retailer, servicer, and underwriter of non-standard personal automobile insurance and related products in the United States. It issues non-standard automobile insurance policies to individuals based on their inability or unwillingness to obtain insurance coverage from standard carriers due to various factors, including their payment preference, failure to maintain continuous insurance coverage, or driving record.