Atlantic International (NASDAQ:CIRC) Stock Price Down 5.1% - Here's Why

Key Points

• Atlantic International shares fell 5.1% to $0.5439, with trading volume down 58% from the average. The stock remains below its 50-day moving average of $0.70.
• Analyst sentiment is mixed, resulting in a consensus “Hold” rating; Weiss Ratings also downgraded the stock from “sell (d-)” to “sell (e+).”
• The company reported a quarterly loss of $0.98 per share on $319.81 million in revenue, while CEO Guus Paul Wilhelm Franke sold 308,783 shares, reducing his stake by 2.47%.

Atlantic International Corp. (NASDAQ:CIRC - Get Free Report) dropped 5.1% on Friday . The stock traded as low as $0.5323 and last traded at $0.5439. 390,122 shares traded hands during trading, a decline of 58% from the average daily volume of 934,850 shares. The stock had previously closed at $0.5730.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of Atlantic International from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold".

Atlantic International Price Performance

The stock's 50-day simple moving average is $0.70. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.39 and a current ratio of 0.39. The stock has a market cap of $50.27 million, a P/E ratio of -0.26 and a beta of 0.81.

Atlantic International (NASDAQ:CIRC - Get Free Report) last announced its earnings results on Wednesday, August 19th. The company reported ($0.98) earnings per share (EPS) for the quarter. The company had revenue of $319.81 million for the quarter.

Insiders Place Their Bets

In other Atlantic International news, CEO Guus Paul Wilhelm Franke sold 308,783 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $1.00, for a total transaction of $308,783.00. Following the completion of the sale, the chief executive officer directly owned 12,207,287 shares of the company's stock, valued at $12,207,287. This trade represents a 2.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 7.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in shares of Atlantic International by 112.2% in the second quarter. Geode Capital Management LLC now owns 245,077 shares of the company's stock valued at $498,000 after purchasing an additional 129,572 shares in the last quarter. New York State Common Retirement Fund purchased a new position in shares of Atlantic International in the 2nd quarter worth $97,000. Deutsche Bank AG increased its holdings in shares of Atlantic International by 232.1% in the 4th quarter. Deutsche Bank AG now owns 50,817 shares of the company's stock worth $68,000 after buying an additional 35,513 shares during the last quarter. State Street Corp increased its holdings in shares of Atlantic International by 9.4% in the 4th quarter. State Street Corp now owns 103,859 shares of the company's stock worth $138,000 after buying an additional 8,959 shares during the last quarter. Finally, Strs Ohio raised its position in shares of Atlantic International by 54.4% during the 1st quarter. Strs Ohio now owns 53,900 shares of the company's stock valued at $163,000 after buying an additional 19,000 shares in the last quarter.

About Atlantic International

Atlantic International Corp. is a specialty staffing and workforce solutions company that provides professional and administrative talent to clients across a range of industries. Through its operating businesses, the company focuses on connecting employers with qualified candidates for temporary, temp-to-perm, and permanent placement needs.

The company's services are generally centered on staffing, recruitment, and workforce management support, helping organizations address labor shortages and staffing fluctuations.

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