AtlasClear (NYSEAMERICAN:ATCH) Issues Quarterly Earnings Results

AtlasClear (NYSEAMERICAN:ATCH) announced 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 firm had revenue of $3.66 million for the quarter.

AtlasClear Stock Performance

Shares of AtlasClear stock traded down $0.00 during trading on Friday, hitting $0.07. 12,953,473 shares of the stock were exchanged, compared to its average volume of 3,823,153. The stock’s fifty day moving average is $0.17 and its 200 day moving average is $0.21. The stock has a market cap of $10.16 million, a PE ratio of 6.69 and a beta of 1.05. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.50 and a current ratio of 1.50. AtlasClear has a 12 month low of $0.05 and a 12 month high of $0.38.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On AtlasClear

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

About AtlasClear

AtlasClear Holdings, Inc. is a financial technology and services company focused on providing infrastructure for financial institutions and other market participants. Through its operating businesses, the company offers clearing, settlement, custody and related banking services designed to support the processing and administration of securities and financial transactions. AtlasClear’s platform is intended to serve community banks, broker-dealers, investment managers, registered investment advisers and other institutional clients.