AtlasClear (NYSEAMERICAN:ATCH) Posts Earnings Results

AtlasClear (NYSEAMERICAN:ATCH) posted its quarterly earnings data on Friday. The company reported ($0.01) earnings per share (EPS) for the quarter, FiscalAI reports. AtlasClear had a return on equity of 10.92% and a net margin of 9.79%. The company had revenue of $3.66 million for the quarter.

AtlasClear Trading Down 6.6%

NYSEAMERICAN:ATCH traded down $0.00 during trading hours on Friday, reaching $0.07. The company’s stock had a trading volume of 12,953,473 shares, compared to its average volume of 3,823,153. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.50 and a current ratio of 1.50. The firm has a market capitalization of $10.16 million, a price-to-earnings ratio of 6.69 and a beta of 1.05. The firm has a 50-day simple moving average of $0.16 and a 200-day simple moving average of $0.20. AtlasClear has a 1 year low of $0.05 and a 1 year high of $0.38.

Institutional Trading of AtlasClear

An institutional investor recently raised its stake in AtlasClear stock. HighTower Advisors LLC grew its stake in shares of AtlasClear Holdings, Inc. (NYSEAMERICAN:ATCH) by 15.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,031,000 shares of the company’s stock after buying an additional 135,000 shares during the quarter. HighTower Advisors LLC owned 0.68% of AtlasClear worth $207,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 47.57% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, ThinkEquity began coverage on AtlasClear in a research note on Monday, July 20th. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1.00.

About AtlasClear

AtlasClear Holdings, Inc. is a financial services and technology company focused on providing infrastructure for broker-dealers and other financial institutions. Its services include securities clearing, custody, trade execution and related technology solutions. The company’s operations include Wilson-Davis & Co., Inc., a broker-dealer and clearing firm that has served the securities industry since 1968. AtlasClear was formed through a business combination involving Quantum FinTech Acquisition Corporation and AtlasClear LLC.