Atlantic International Corp. (NASDAQ:CIRC) Sees Significant Growth in Short Interest

Atlantic International Corp. (NASDAQ:CIRC) was the target of a large increase in short interest in July. As of July 15th, there was short interest totaling 2,365,288 shares, an increase of 95.3% from the June 30th total of 1,210,847 shares. Approximately 3.1% of the shares of the company are sold short. Based on an average daily trading volume, of 13,829,471 shares, the short-interest ratio is currently 0.2 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut Atlantic International from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Insider Activity at Atlantic International

In related news, CEO Guus Paul Wilhelm Franke sold 308,783 shares of Atlantic International stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $1.00, for a total value of $308,783.00. Following the sale, the chief executive officer directly owned 12,207,287 shares in the company, valued at $12,207,287. The trade was a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 7.60% of the stock is owned by corporate insiders.

Atlantic International Trading Up 0.1%

CIRC traded up $0.00 on Friday, hitting $0.72. 701,900 shares of the company were exchanged, compared to its average volume of 5,496,327. Atlantic International has a fifty-two week low of $0.41 and a fifty-two week high of $5.25. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $58.28 million, a P/E ratio of -0.54 and a beta of 0.79.

Atlantic International (NASDAQ:CIRC) last announced its quarterly earnings results on Monday, June 22nd. The company reported ($0.44) EPS for the quarter. The firm had revenue of $249.89 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.