ATI Physical Therapy (NYSE:ATIP) Stock Pulls Back a Bit After The Big Jump
Although the ATI Physical Therapy (NYSE:ATIP) stock took a bit of a break on Thursday and declined by as much as 3%, it should be noted that the stock has been one of the major gainers this week so far.
Market Stats
On Thursday, ATIP stock fell 2.54% to $3.83 with more than 3.63 million shares, compared to its average volume of 2.01 million shares. The stock has moved within a range of $3.6550 – 3.9900 after opening the trade at $3.87.
Earnings Review
Having clocked gains of as much as 23% so far in the week, it is a stock that could be on the radars of many investors today. The rally in the stock commenced this Wednesday when the company managed to bring in revenues of as much as $159 million for the latest reported quarter and missed analysts’ projection of $159.6 million by a whisker.
However, in addition to that, the company also managed to reduce its losses significantly on a sequential basis and that may have given rise to a degree of optimism among investors.
Earlier on in the year, the ATI Physical Therapy stock had been in the doldrums after the stock suffered from a significant selloff after the special purpose acquisition company missed its revenues projections significantly in the second fiscal quarter. In addition to that, the net loss had also been significant. It seems that investor think that the company may have turned a corner in the third quarter.
Traders Corner
ATIP stock is trading above the 20-Day and 50-Day Moving averages of $3.24 and $3.50 respectively. However, the stock is trading below the 20-Day moving average of $7.56. The stock is up 24% in the past week.
