Atlas Engineered Products (CVE:AEP) Shares Down 10.1% – Here’s Why

Atlas Engineered Products Ltd. (CVE:AEP) shares fell 10.1% during trading on Saturday . The stock traded as low as C$0.67 and last traded at C$0.71. 649,129 shares traded 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.

Analyst Ratings Changes

Several brokerages have recently commented on AEP. Raymond James Financial set a C$1.50 target price on Atlas Engineered Products and gave the stock a “buy” rating in a report on Wednesday, May 28th. Desjardins set a C$1.50 price objective on Atlas Engineered Products and gave the stock a “buy” rating in a report on Wednesday, May 28th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Atlas Engineered Products presently has an average rating of “Buy” and a consensus price target of C$1.58.

Atlas Engineered Products Stock Performance

The firm has a fifty day simple moving average of C$0.85 and a 200-day simple moving average of C$0.87. The company has a current ratio of 4.16, a quick ratio of 2.31 and a debt-to-equity ratio of 62.14. The stock has a market cap of C$49.93 million, a price-to-earnings ratio of 71.00 and a beta of 0.39.

Atlas Engineered Products Company Profile

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.