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An update from Atlas Pearls Ltd ( (AU:ATP) ) is now available.
Atlas Pearls Ltd reported on its recent auction in Kobe, Japan, where 64,435 pearls were sold at an average price of $80 each, generating $5.1 million in revenue. Despite a higher quality index of pearls sold, the average dollar per index point decreased, reflecting softer market demand and higher inventory levels among customers. The company plans to channel unsold pearls into value-added sales for better returns and anticipates improved harvest quality from better-performing farms.
The most recent analyst rating on (AU:ATP) stock is a Buy with a A$0.21 price target. To see the full list of analyst forecasts on Atlas Pearls Ltd stock, see the AU:ATP Stock Forecast page.
More about Atlas Pearls Ltd
Atlas Pearls Ltd operates in the pearl industry, primarily focusing on the cultivation and sale of South Sea pearls. The company is involved in wholesale and value-added sales, with a growing interest in retail channels.
Average Trading Volume: 296,961
Technical Sentiment Signal: Buy
Current Market Cap: A$85.02M
For an in-depth examination of ATP stock, go to TipRanks’ Overview page.