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

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

Wall Street Analyst Weigh In

AEP has been the topic of several research analyst reports. 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 shares of Atlas Engineered Products and gave the stock a “buy” rating in a report on Wednesday, May 28th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$1.58.

Atlas Engineered Products Price Performance

The company has a market capitalization of C$49.93 million, a price-to-earnings ratio of 71.00 and a beta of 0.39. 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 company has a 50 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.