Atlantic International (NASDAQ:ATLN) Releases Quarterly Earnings Results

Atlantic International (NASDAQ:ATLN) released its quarterly earnings results on Friday. The company reported ($0.20) earnings per share (EPS) for the quarter, FiscalAI reports. Atlantic International had a negative net margin of 21.93% and a negative return on equity of 3,234.95%. The firm had revenue of $110.13 million during the quarter.

Atlantic International Trading Down 4.6%

ATLN stock traded down $0.12 during mid-day trading on Friday, hitting $2.49. 13,090 shares of the company were exchanged, compared to its average volume of 14,838. Atlantic International has a 1-year low of $1.45 and a 1-year high of $7.97. The stock has a market capitalization of $145.37 million, a PE ratio of -1.11 and a beta of 1.12. The business has a 50 day simple moving average of $3.17 and a 200-day simple moving average of $2.81.

Institutional Investors Weigh In On Atlantic International

A number of institutional investors have recently modified their holdings of the business. Geode Capital Management LLC increased its position in Atlantic International by 112.2% during the second quarter. Geode Capital Management LLC now owns 245,077 shares of the company’s stock worth $498,000 after acquiring an additional 129,572 shares during the period. New York State Common Retirement Fund bought a new stake in shares of Atlantic International in the second quarter valued at approximately $97,000. Finally, Strs Ohio acquired a new stake in Atlantic International during the third quarter worth approximately $106,000.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ATLN. LADENBURG THALM/SH SH upgraded Atlantic International to a “strong-buy” rating in a report on Wednesday, October 1st. Zacks Research raised Atlantic International to a “hold” rating in a research report on Friday, October 3rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Atlantic International in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold”.

About Atlantic International

Atlantic International Corp. engages in the design, development, and manufacture of genetic analysis technologies. Its services include RNA sequencing and DNA sequencing. The company was founded by William C. St. Laurent and Daniel R. Jones in 2013 and is headquartered in Billercia, MA.