The Vanguard Group, Inc. recently announced the acquisition of new stake in Atlas Technical Consultants Inc. (NASDAQ:ATCX). The institutional investor has increased its shareholding in the Industrials company by 16.48% to 1.42 million shares with purchase of 0.2 million shares. This fresh investment now brings its stake to 3.77% valued currently at $7.32 million. In addition, ACK Asset Management LLC raised its holdings by 0.31 million to 1.25 million shares. And BlackRock Fund Advisors has lifted its position by 29.55% or 0.2 million shares – to 0.89 million shares.
With over 0.15 million Atlas Technical Consultants Inc. (ATCX) shares trading Monday and a closing price of $5.34 on the day, the dollar volume was approximately $0.79 million. The shares have shown a negative half year performance of -11.00% and its price on 01/23/23 gained nearly 2.30%. Currently, there are 37.51M common shares owned by the public and among those 32.55M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for ATCX have a consensus price objective of $13.92. The analysts have set the share’s price value over the next 12 months at a high of $22.00 and a low of $7.50. The average price target is 61.64% above its recent price level and an upside to the estimated low will see the stock gain 28.8% over that period. But an upside of 75.73% will see the stock hit the forecast high price target while median target price for the stock is $13.00.
Insiders at the company have transacted a total of 27 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 27 of these insider trades were purchases, accounting for 229,225 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Atlas Technical Consultants Inc. are Global X US Infrastructure Develo, Vanguard Total Stock Market Index, and Vanguard Extended Market Index Fu. Global X US Infrastructure Develo owns 1.35 million shares of the company’s stock, all valued at over $6.94 million. Vanguard Extended Market Index Fu sold 925.0 shares to bring its total holdings to over 0.44 million shares at a value of $2.26 million. Vanguard Extended Market Index Fu now owns shares totaling to 1.17% of the shares outstanding.
Shares of Atlas Technical Consultants Inc. (NASDAQ: ATCX) opened at $5.18, down -$0.04 from a prior closing price of $5.22. However, the script later moved the day high at 5.49, up 2.30%. The company’s stock has a 5-day price change of -16.82% and -23.50% over the past three months. ATCX shares are trading 3.69% year to date (YTD), with the 12-month market performance down to -31.89% lower. It has a 12-month low price of $4.71 and touched a high of $13.57 over the same period. ATCX has an average intraday trading volume of 80.82K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -5.19%, -5.65%, and -28.24% respectively.
Institutional ownership of Atlas Technical Consultants Inc. (NASDAQ: ATCX) shares accounts for 29.50% of the company’s 37.51M shares outstanding. Mutual fund holders own 16.80%, while other institutional holders and individual stakeholders account for 16.80% and 12.07% respectively.
It has a market capitalization of $229.35M and a beta (3y monthly) value of 0.64. The earnings-per-share (ttm) stands at -$0.32. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.46% over the week and 7.46% over the month.
Analysts forecast that Atlas Technical Consultants Inc. (ATCX) will achieve an EPS of $0.07 for the current quarter, $0.01 for the next quarter and $0.38 for 2023. The lowest estimate earnings-per-share for the quarter is $0.02 while analysts give the company a high EPS estimate of $0.15. Comparatively, EPS for the current quarter was -$0.07 a year ago. Earnings per share for the fiscal year are expected to decrease by -4.30%, and 327.30% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate Atlas Technical Consultants Inc. (ATCX) as a “Strong Buy” at a consensus score of 1.80. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 0 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ATCX, a number of firms have released research notes about the stock. Johnson Rice stated their Buy rating for the stock in a research note on September 21, 2021, with the firm’s price target at $13.
