Atlantic International Corp. (NASDAQ:CIRC) Short Interest Down 43.3% in August

Atlantic International Corp. (NASDAQ:CIRC) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 1,164,813 shares, a decline of 43.3% from the August 15th total of 2,054,113 shares. Based on an average daily volume of 1,377,431 shares, the short-interest ratio is presently 0.8 days. Currently, 1.4% of the company’s shares are sold short.

Atlantic International Price Performance

Shares of NASDAQ:CIRC opened at $0.46 on Thursday. Atlantic International has a 1 year low of $0.41 and a 1 year high of $5.20. The stock’s 50-day simple moving average is $0.69. The stock has a market capitalization of $42.79 million, a price-to-earnings ratio of -0.22 and a beta of 0.81. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.39 and a quick ratio of 0.39.

Atlantic International (NASDAQ:CIRC) last announced its quarterly earnings data on Wednesday, August 19th. The company reported ($0.98) earnings per share for the quarter. The firm had revenue of $319.81 million for the quarter.

Insider Buying and Selling

In other Atlantic International news, CEO Guus Paul Wilhelm Franke sold 308,783 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $1.00, for a total value of $308,783.00. Following the transaction, the chief executive officer directly owned 12,207,287 shares in the company, valued at $12,207,287. The trade was a 2.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 7.60% of the stock is owned by company insiders.

Institutional Trading of Atlantic International

Institutional investors have recently bought and sold shares of the business. HighTower Advisors LLC acquired a new position in shares of Atlantic International during the 2nd quarter worth about $368,000. Bank of New York Mellon Corp purchased a new stake in Atlantic International during the first quarter worth approximately $31,000. Finally, Strs Ohio lifted its stake in Atlantic International by 54.4% during the first quarter. Strs Ohio now owns 53,900 shares of the company’s stock worth $163,000 after purchasing an additional 19,000 shares during the last quarter.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of Atlantic International from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

About Atlantic International

Atlantic International Corp., through its subsidiaries, operates as a staffing company servicing the commercial, professional, finance, direct placement, and managed service provider verticals. The company specializes in permanent, temporary, and temporary-to-permanent placement services in various areas, including accounting and finance, administrative and clerical, hospitality, information technology, legal, light industrial, and medical fields. It also provides productivity consulting and workforce management solutions.