AtlasClear (NYSEAMERICAN:ATCH) Trading Down 2.5% – Here’s Why

AtlasClear Holdings, Inc. (NYSEAMERICAN:ATCH)’s stock price was down 2.5% during mid-day trading on Friday . The company traded as low as $0.2161 and last traded at $0.2242. Approximately 1,427,776 shares changed hands during trading, a decline of 21% from the average daily volume of 1,810,000 shares. The stock had previously closed at $0.23.

Analyst Ratings Changes

A number of research analysts have issued reports on ATCH shares. Zacks Research upgraded AtlasClear to a “hold” rating in a research note on Tuesday, April 7th. Litchfield Hills Research started coverage on AtlasClear in a research note on Monday, April 6th. They set a “buy” rating and a $1.00 price objective for the company. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1.00.

AtlasClear Price Performance

The stock has a 50 day simple moving average of $0.24 and a 200-day simple moving average of $0.25. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.52 and a current ratio of 1.52.

AtlasClear (NYSEAMERICAN:ATCH) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($0.01) earnings per share (EPS) for the quarter. The company had revenue of $2.79 million for the quarter. AtlasClear had a net margin of 16.82% and a return on equity of 24.89%. As a group, research analysts anticipate that AtlasClear Holdings, Inc. will post 0.02 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Diversify Wealth Management LLC purchased a new position in shares of AtlasClear in the third quarter worth $31,000. Prospera Financial Services Inc purchased a new position in shares of AtlasClear in the third quarter worth $63,000. Virtu Financial LLC raised its stake in shares of AtlasClear by 44.1% in the fourth quarter. Virtu Financial LLC now owns 400,289 shares of the company’s stock worth $100,000 after purchasing an additional 122,410 shares during the last quarter. HighTower Advisors LLC raised its stake in shares of AtlasClear by 42.8% in the fourth quarter. HighTower Advisors LLC now owns 813,900 shares of the company’s stock worth $204,000 after purchasing an additional 243,900 shares during the last quarter. Finally, Jane Street Group LLC raised its stake in shares of AtlasClear by 1,823.2% in the fourth quarter. Jane Street Group LLC now owns 921,251 shares of the company’s stock worth $231,000 after purchasing an additional 873,348 shares during the last quarter. Hedge funds and other institutional investors own 47.57% of the company’s stock.

About AtlasClear

AtlasClear, Inc (NYSE American: ATCH) is a financial technology and market-services company focused on the execution and clearing of equity-linked derivatives in the United States. Through its registered broker-dealer and clearing subsidiary, Atlas Clearing, LLC, the firm operates a dedicated trading venue for covered warrants and warrant-like instruments. The platform is designed to deliver efficient trade execution, enhanced liquidity and robust price discovery for institutional investors.

The company’s core offerings include proprietary market-making strategies, electronic order matching and centralized post-trade clearing services.