AtlasClear (NYSEAMERICAN:ATCH) Trading Up 9.3% – Time to Buy?

AtlasClear Holdings, Inc. (NYSEAMERICAN:ATCH) rose 9.3% during mid-day trading on Wednesday . The stock traded as high as $0.2121 and last traded at $0.2121. 32,758,153 shares were traded during trading, an increase of 2,983% from the average session volume of 1,062,682 shares. The stock had previously closed at $0.1941.

Analyst Ratings Changes

ATCH has been the topic of several research reports. ThinkEquity started coverage on AtlasClear in a research report on Monday. They issued a “buy” rating on the stock. Litchfield Hills Research initiated coverage on AtlasClear in a research report on Monday, April 6th. They set a “buy” rating and a $1.00 price target for the company. Finally, Zacks Research upgraded AtlasClear to a “hold” rating in a research note on Tuesday, April 7th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1.00.

AtlasClear Stock Performance

The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.52 and a current ratio of 1.52. The business’s 50-day simple moving average is $0.20 and its two-hundred day simple moving average is $0.23.

AtlasClear (NYSEAMERICAN:ATCH) last issued its earnings results on Wednesday, May 13th. The company reported ($0.01) earnings per share for the quarter. The company had revenue of $2.79 million during the quarter. AtlasClear had a return on equity of 24.89% and a net margin of 16.82%. As a group, equities research analysts anticipate that AtlasClear Holdings, Inc. will post 0.02 earnings per share for the current fiscal year.

Institutional Trading of AtlasClear

A number of hedge funds have recently made changes to their positions in ATCH. Virtu Financial LLC acquired a new position in shares of AtlasClear during the third quarter worth $142,000. HighTower Advisors LLC boosted its stake in shares of AtlasClear by 42.8% in the fourth quarter. HighTower Advisors LLC now owns 813,900 shares of the company’s stock valued at $204,000 after purchasing an additional 243,900 shares during the period. Geode Capital Management LLC grew its holdings in AtlasClear by 740.6% during the 4th quarter. Geode Capital Management LLC now owns 1,179,315 shares of the company’s stock valued at $296,000 after purchasing an additional 1,039,013 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in AtlasClear by 1,823.2% during the 4th quarter. Jane Street Group LLC now owns 921,251 shares of the company’s stock valued at $231,000 after purchasing an additional 873,348 shares in the last quarter. Hedge funds and other institutional investors own 47.57% of the company’s stock.

About AtlasClear

AtlasClear, Inc (NYSE American: ATCH) is a financial technology and market-services company focused on the execution and clearing of equity-linked derivatives in the United States. Through its registered broker-dealer and clearing subsidiary, Atlas Clearing, LLC, the firm operates a dedicated trading venue for covered warrants and warrant-like instruments. The platform is designed to deliver efficient trade execution, enhanced liquidity and robust price discovery for institutional investors.

The company’s core offerings include proprietary market-making strategies, electronic order matching and centralized post-trade clearing services.