Alpha Technology Group (NASDAQ:ATGL) Stock Price Down 11.6% – Here’s Why

Alpha Technology Group Limited (NASDAQ:ATGL) shares dropped 11.6% during mid-day trading on Monday . The stock traded as low as $35.00 and last traded at $36.25. Approximately 7,607 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 26,479 shares. The stock had previously closed at $41.00.

Alpha Technology Group Trading Down 13.9 %

The business has a 50 day simple moving average of $18.40 and a 200 day simple moving average of $10.87. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.37 and a quick ratio of 6.37.

Institutional Investors Weigh In On Alpha Technology Group

A hedge fund recently bought a new stake in Alpha Technology Group stock. Citadel Advisors LLC purchased a new stake in Alpha Technology Group Limited (NASDAQ:ATGL) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 11,313 shares of the company’s stock, valued at approximately $159,000. Citadel Advisors LLC owned approximately 0.07% of Alpha Technology Group at the end of the most recent reporting period.

Alpha Technology Group Company Profile

Alpha Technology Group Limited, through its subsidiaries, provides cloud-based information technology services in Hong Kong. The company primarily offers cloud-based and customized customer relationship management and enterprise resource planning systems; web and mobile application development services; artificial intelligence powered optical character recognition services; and technological support and maintenance, and other services, such as maintaining and enhancing services for systems.