Atlas Energy Solutions (NYSE:AESI) Trading Down 4.3% – Here’s What Happened

Atlas Energy Solutions Inc. (NYSE:AESI)’s share price fell 4.3% during trading on Monday . The company traded as low as $13.06 and last traded at $12.9650. Approximately 265,640 shares traded hands during trading, a decline of 92% from the average session volume of 3,508,530 shares. The stock had previously closed at $13.55.

Analyst Ratings Changes

AESI has been the subject of several research reports. Stifel Nicolaus reduced their price target on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. The Goldman Sachs Group set a $12.00 price objective on shares of Atlas Energy Solutions in a report on Friday, August 7th. Raymond James Financial raised shares of Atlas Energy Solutions from a “market perform” rating to an “outperform” rating and set a $25.00 target price for the company in a report on Tuesday, June 2nd. Citigroup decreased their price target on shares of Atlas Energy Solutions from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday, September 3rd. Finally, Piper Sandler cut their price objective on shares of Atlas Energy Solutions from $19.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, August 27th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Atlas Energy Solutions has a consensus rating of “Hold” and a consensus price target of $17.12.

Atlas Energy Solutions Stock Down 4.0%

The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.58 and a current ratio of 1.82. The company’s 50-day moving average price is $12.72 and its 200 day moving average price is $14.41. The stock has a market capitalization of $1.63 billion, a P/E ratio of -13.65 and a beta of 1.17.

Atlas Energy Solutions (NYSE:AESI) last posted its quarterly earnings results on Monday, August 3rd. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.05). Atlas Energy Solutions had a negative return on equity of 9.57% and a negative net margin of 11.08%.The business had revenue of $293.18 million during the quarter, compared to the consensus estimate of $282.24 million. During the same quarter in the previous year, the company earned ($0.04) earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, equities analysts expect that Atlas Energy Solutions Inc. will post -0.94 earnings per share for the current year.

Institutional Trading of Atlas Energy Solutions

Institutional investors have recently bought and sold shares of the stock. Cetera Investment Advisers grew its holdings in shares of Atlas Energy Solutions by 6.9% in the first quarter. Cetera Investment Advisers now owns 21,094 shares of the company’s stock worth $277,000 after purchasing an additional 1,357 shares during the last quarter. Citizens Financial Group Inc. RI lifted its position in Atlas Energy Solutions by 6.0% during the first quarter. Citizens Financial Group Inc. RI now owns 23,966 shares of the company’s stock valued at $314,000 after acquiring an additional 1,364 shares during the last quarter. Islay Capital Management LLC purchased a new stake in Atlas Energy Solutions in the fourth quarter valued at about $28,000. State of Wyoming purchased a new stake in shares of Atlas Energy Solutions during the first quarter worth about $48,000. Finally, Tactive Advisors LLC grew its stake in shares of Atlas Energy Solutions by 12.1% during the second quarter. Tactive Advisors LLC now owns 68,291 shares of the company’s stock worth $1,134,000 after acquiring an additional 7,359 shares during the last quarter. 34.59% of the stock is currently owned by institutional investors.

Atlas Energy Solutions Company Profile

Atlas Energy Solutions Inc (NYSE:AESI) provides proppant and logistics services to oil and natural gas producers, primarily operating in the Permian Basin of West Texas and New Mexico. The company supplies frac sand used in hydraulic fracturing to help keep underground rock fractures open and support the recovery of hydrocarbons.

The company operates sand mines, processing facilities and related infrastructure in the Permian Basin. Its product offerings include various grades and sizes of frac sand, including commonly used 40/70 and 100-mesh products.