Short Interest in Atlantic International Corp. (NASDAQ:CIRC) Drops By 43.3%

Atlantic International Corp. (NASDAQ:CIRC) was the recipient of a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 1,164,813 shares, a drop of 43.3% from the August 15th total of 2,054,113 shares. Approximately 1.4% of the company’s shares are short sold. Based on an average daily volume of 1,377,431 shares, the days-to-cover ratio is currently 0.8 days.

Insiders Place Their Bets

In other Atlantic International 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 transaction, the chief executive officer directly owned 12,207,287 shares in the company, valued at approximately $12,207,287. This represents a 2.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 13.60% of the company’s stock.

Institutional Investors Weigh In On Atlantic International

Large investors have recently bought and sold shares of the company. HighTower Advisors LLC bought a new position in shares of Atlantic International during the second quarter worth $368,000. Bank of New York Mellon Corp bought a new stake in shares of Atlantic International in the 1st quarter valued at $31,000. Finally, 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.

Wall Street Analysts Forecast Growth

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

Atlantic International Stock Down 0.6%

NASDAQ CIRC traded down $0.00 on Wednesday, reaching $0.47. The company had a trading volume of 160,519 shares, compared to its average volume of 4,654,398. The company has a 50 day moving average of $0.69. The company has a market capitalization of $43.16 million, a PE ratio of -0.22 and a beta of 0.81. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.39 and a current ratio of 0.39. Atlantic International has a 52 week low of $0.41 and a 52 week high of $5.20.

Atlantic International (NASDAQ:CIRC) last issued its earnings results on Wednesday, August 19th. The company reported ($0.98) earnings per share (EPS) for the quarter. The business had revenue of $319.81 million during the 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.