AtlasClear (NYSEAMERICAN:ATCH) Shares Up 9.3% – Time to Buy?

Shares of AtlasClear Holdings, Inc. (NYSEAMERICAN:ATCH) rose 9.3% on Wednesday . The company traded as high as $0.2121 and last traded at $0.2121. Approximately 32,758,153 shares were traded during mid-day trading, an increase of 2,983% from the average daily volume of 1,062,682 shares. The stock had previously closed at $0.1941.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. ThinkEquity began coverage on shares of AtlasClear in a research note on Monday. They set a “buy” rating for the company. Zacks Research raised shares of AtlasClear to a “hold” rating in a research note on Tuesday, April 7th. Finally, Litchfield Hills Research initiated coverage on shares of AtlasClear in a report on Monday, April 6th. They set a “buy” rating and a $1.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, AtlasClear has a consensus rating of “Moderate Buy” and a consensus target price of $1.00.

AtlasClear Stock Up 9.3%

The business has a fifty day moving average of $0.21 and a 200-day moving average of $0.23. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.61.

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

Hedge Funds Weigh In On AtlasClear

Institutional investors have recently made changes to their positions in the company. Virtu Financial LLC lifted its stake in 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 acquiring an additional 122,410 shares during the period. HighTower Advisors LLC grew its holdings in AtlasClear by 42.8% during the 4th quarter. HighTower Advisors LLC now owns 813,900 shares of the company’s stock worth $204,000 after acquiring an additional 243,900 shares in the last quarter. Jane Street Group LLC increased its position in AtlasClear by 1,823.2% during the 4th quarter. Jane Street Group LLC now owns 921,251 shares of the company’s stock valued at $231,000 after purchasing an additional 873,348 shares during the period. Finally, Geode Capital Management LLC increased its position in AtlasClear by 740.6% during the 4th quarter. Geode Capital Management LLC now owns 1,179,315 shares of the company’s stock valued at $296,000 after purchasing an additional 1,039,013 shares during the period. Hedge funds and other institutional investors own 47.57% of the company’s stock.

AtlasClear Company Profile

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.