Atlas Engineered Products (CVE:AEP) Stock Price Down 2% – What’s Next?

Atlas Engineered Products Ltd. (CVE:AEP)’s share price dropped 2% during mid-day trading on Friday . The company traded as low as C$0.98 and last traded at C$0.98. Approximately 79,007 shares changed hands during trading, a decline of 37% from the average daily volume of 125,257 shares. The stock had previously closed at C$1.00.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AEP. Raymond James reduced their target price on shares of Atlas Engineered Products from C$2.40 to C$2.10 and set a “strong-buy” rating for the company in a research report on Thursday, January 30th. Ventum Financial dropped their price objective on shares of Atlas Engineered Products from C$2.00 to C$1.75 in a research note on Tuesday, November 26th.

Atlas Engineered Products Stock Performance

The firm’s 50 day moving average price is C$1.17 and its two-hundred day moving average price is C$1.24. The firm has a market cap of C$72.12 million, a PE ratio of 38.32 and a beta of 1.13. The company has a debt-to-equity ratio of 62.14, a quick ratio of 2.31 and a current ratio of 4.16.

About Atlas Engineered Products

Atlas Engineered Products Ltd. engages in the design, manufacture, and sale of engineered roof trusses, floor trusses, and wall panels in Canada. The company offers floor joists and floor panels; and design, engineering, permitting, project management, and site assembly services. It also distributes a range of engineered wood products for builders of residential and commercial wood-framed buildings, including single-family homes, townhouses, multi-story wood-framed residential buildings, commercial buildings, and agricultural structures.