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

Atlas Engineered Products Ltd. (CVE:AEP)’s stock price fell 10.1% during mid-day trading on Saturday . The company traded as low as C$0.67 and last traded at C$0.71. 649,129 shares traded hands during 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 Analyst Weigh In

A number of brokerages have issued reports on AEP. Desjardins set a C$1.50 price objective on Atlas Engineered Products and gave the company a “buy” rating in a research note on Wednesday, May 28th. Raymond James Financial set a C$1.50 price objective on Atlas Engineered Products and gave the company a “buy” rating in a research note on Wednesday, May 28th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, Atlas Engineered Products presently has a consensus rating of “Buy” and a consensus target price of C$1.58.

Atlas Engineered Products Stock Performance

The stock has a market capitalization of C$49.93 million, a P/E ratio of 71.00 and a beta of 0.39. The company has a quick ratio of 2.31, a current ratio of 4.16 and a debt-to-equity ratio of 62.14. The business has a fifty day moving average price of C$0.85 and a 200-day moving average price of C$0.87.

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.