Atlantic International Corp. (NASDAQ:CIRC) Short Interest Update

Atlantic International Corp. (NASDAQ:CIRC) was the recipient of 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 trading volume of 1,377,431 shares, the short-interest ratio is presently 0.8 days. Currently, 1.4% of the shares of the company are sold short.

Atlantic International Stock Down 7.8%

Shares of CIRC opened at $0.50 on Tuesday. The company has a market capitalization of $46.37 million, a PE ratio of -0.24 and a beta of 0.81. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 1.09. Atlantic International has a 12 month low of $0.41 and a 12 month high of $5.20. The business’s 50-day simple moving average is $0.69.

Atlantic International (NASDAQ:CIRC) last released 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 during the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut Atlantic International from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, July 20th. One 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Insider Buying and Selling

In other news, CEO Guus Paul Wilhelm Franke sold 308,783 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $1.00, for a total transaction of $308,783.00. Following the sale, the chief executive officer directly owned 12,207,287 shares in the company, valued at approximately $12,207,287. The trade was a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 13.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Atlantic International

A number of institutional investors have recently made changes to their positions in the stock. HighTower Advisors LLC bought a new stake in Atlantic International in the second quarter valued at about $368,000. Strs Ohio raised its stake in Atlantic International by 54.4% during the 1st quarter. Strs Ohio now owns 53,900 shares of the company’s stock worth $163,000 after buying an additional 19,000 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of Atlantic International in the 1st quarter valued at approximately $31,000.

Atlantic International Company Profile

Atlantic International Corp. is a specialty staffing and workforce solutions company that provides professional and administrative talent to clients across a range of industries. Through its operating businesses, the company focuses on connecting employers with qualified candidates for temporary, temp-to-perm, and permanent placement needs.

The company’s services are generally centered on staffing, recruitment, and workforce management support, helping organizations address labor shortages and staffing fluctuations.