AtlasClear (NYSEAMERICAN:ATCH) Issues Earnings Results

AtlasClear (NYSEAMERICAN:ATCH) issued its quarterly earnings results on Thursday. The company reported ($0.03) earnings per share (EPS) for the quarter, FiscalAI reports. AtlasClear had a return on equity of 24.89% and a net margin of 16.82%.The company had revenue of $4.13 million for the quarter.

AtlasClear Stock Performance

NYSEAMERICAN ATCH opened at $0.20 on Thursday. The firm’s 50 day simple moving average is $0.19 and its 200 day simple moving average is $0.21. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.61. AtlasClear has a 1 year low of $0.16 and a 1 year high of $0.86.

Analyst Upgrades and Downgrades

Separately, ThinkEquity initiated coverage on AtlasClear in a research report on Monday, July 20th. They set a “buy” rating for the company. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1.00.

About AtlasClear

AtlasClear Holdings, Inc is a financial technology and services company that provides infrastructure for community banks, broker-dealers, investment firms and other financial institutions. Through its platform and operating subsidiaries, the company focuses on connecting financial institutions with clearing, settlement, custody and banking capabilities.

AtlasClear’s services are designed to support the processing and administration of securities and other financial transactions. Its offerings may include broker-dealer clearing and settlement, custody services, banking solutions and technology intended to streamline back-office operations and improve access to financial markets.

The company was formed through a business combination involving AtlasClear and began trading on the NYSE American under the symbol ATCH.