Atento (NYSE:ATTO) Stock Crosses Below 50 Day Moving Average of $0.93

Atento SA (NYSE:ATTO) passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $0.93 and traded as low as $0.90. Atento shares last traded at $1.05, with a volume of 131,588 shares changing hands.

ATTO has been the topic of several analyst reports. Goldman Sachs Group downgraded Atento from a “neutral” rating to a “sell” rating and set a $0.70 target price on the stock. in a research report on Wednesday, April 29th. Barrington Research lowered their target price on Atento from $6.00 to $4.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 19th. ValuEngine upgraded Atento from a “hold” rating to a “buy” rating in a research report on Tuesday, March 10th. Finally, Zacks Investment Research downgraded Atento from a “hold” rating to a “sell” rating in a research report on Monday, May 18th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. Atento has an average rating of “Hold” and an average target price of $2.18.

The company has a 50-day moving average price of $0.93 and a 200 day moving average price of $2.08. The firm has a market capitalization of $79.18 million, a PE ratio of -2.08 and a beta of 1.10. The company has a debt-to-equity ratio of 6.01, a current ratio of 1.36 and a quick ratio of 1.36.

Atento (NYSE:ATTO) last announced its quarterly earnings data on Thursday, May 7th. The business services provider reported ($0.05) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.13). Atento had a negative net margin of 2.59% and a negative return on equity of 7.74%. The business had revenue of $375.40 million during the quarter, compared to analysts’ expectations of $422.47 million. As a group, research analysts anticipate that Atento SA will post -0.12 earnings per share for the current year.

A hedge fund recently bought a new stake in Atento stock. Banco Bilbao Vizcaya Argentaria S.A. acquired a new stake in Atento SA (NYSE:ATTO) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 20,000 shares of the business services provider’s stock, valued at approximately $57,000. Institutional investors and hedge funds own 69.69% of the company’s stock.

Atento Company Profile (NYSE:ATTO)

Atento SA, together with its subsidiaries, provides customer relationship management and business process outsourcing services and solutions in Brazil, the Americas, Europe, the Middle East, and Africa. It offers a range of front and back-end services, including sales, customer care, collections, back office, applications-processing, credit-management, and technical support services.

Further Reading: The limitations of an equal weight rating

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