Atlantic International (NASDAQ:CIRC) Stock Price Down 7.8% – Time to Sell?

Atlantic International Corp. (NASDAQ:CIRC)’s share price was down 7.8% on Thursday . The stock traded as low as $0.4773 and last traded at $0.60. 9,903,536 shares traded hands during mid-day trading, an increase of 1,237% from the average session volume of 740,473 shares. The stock had previously closed at $0.6510.

Wall Street Analysts Forecast Growth

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

Atlantic International Stock Up 2.7%

The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.39 and a current ratio of 0.39. The firm has a market capitalization of $56.95 million, a PE ratio of -0.29 and a beta of 0.81.

Atlantic International (NASDAQ:CIRC) last announced its quarterly earnings results 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.

Insider Activity

In other news, CEO Guus Paul Wilhelm Franke sold 308,783 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $1.00, for a total transaction of $308,783.00. Following the completion of the transaction, the chief executive officer owned 12,207,287 shares in the company, valued at approximately $12,207,287. This represents a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 7.60% of the company’s stock.

Institutional Trading of Atlantic International

Several hedge funds have recently added to or reduced their stakes in CIRC. Bank of New York Mellon Corp bought a new stake in Atlantic International during the first quarter worth approximately $31,000. Deutsche Bank AG raised its stake in shares of Atlantic International by 232.1% in the 4th quarter. Deutsche Bank AG now owns 50,817 shares of the company’s stock worth $68,000 after buying an additional 35,513 shares in the last quarter. New York State Common Retirement Fund acquired a new stake in shares of Atlantic International in the second quarter valued at $97,000. State Street Corp grew its holdings in Atlantic International by 9.4% during the fourth quarter. State Street Corp now owns 103,859 shares of the company’s stock worth $138,000 after acquiring an additional 8,959 shares during the period. Finally, Strs Ohio raised its position in Atlantic International by 54.4% in the first quarter. Strs Ohio now owns 53,900 shares of the company’s stock worth $163,000 after acquiring an additional 19,000 shares in the last quarter.

About Atlantic International

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.