Atlas Energy Solutions (NYSE:AESI) Stock Price Down 5.1% – Time to Sell?

Atlas Energy Solutions Inc. (NYSE:AESI)’s share price traded down 5.1% during mid-day trading on Tuesday. The company traded as low as $11.64 and last traded at $11.67. Approximately 1,973,485 shares changed hands during trading, a decline of 45% from the average session volume of 3,573,220 shares. The stock had previously closed at $12.30.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Barclays upgraded shares of Atlas Energy Solutions from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $10.00 to $14.00 in a research note on Monday. Royal Bank Of Canada cut their price target on Atlas Energy Solutions from $21.00 to $17.00 and set a “sector perform” rating for the company in a report on Wednesday, August 5th. Citigroup reduced their target price on shares of Atlas Energy Solutions from $21.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, September 3rd. Scotiabank began coverage on shares of Atlas Energy Solutions in a research report on Tuesday. They issued a “sector outperform” rating and a $14.00 price target for the company. Finally, The Goldman Sachs Group set a $12.00 price objective on shares of Atlas Energy Solutions in a research note on Friday, August 7th. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Atlas Energy Solutions presently has an average rating of “Hold” and an average price target of $17.22.

Atlas Energy Solutions Stock Performance

The firm has a market capitalization of $1.49 billion, a PE ratio of -12.67 and a beta of 1.17. 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 business’s fifty day simple moving average is $12.36 and its 200-day simple moving average is $14.43.

Atlas Energy Solutions (NYSE:AESI) last released its earnings results on Monday, August 3rd. The company reported ($0.20) EPS 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 company had revenue of $293.18 million during the quarter, compared to analysts’ expectations of $282.24 million. During the same period last year, the firm posted ($0.04) EPS. Atlas Energy Solutions’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, equities research analysts expect that Atlas Energy Solutions Inc. will post -0.94 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Encompass Capital Advisors LLC bought a new stake in Atlas Energy Solutions in the first quarter worth $119,854,000. Wasatch Advisors LP bought a new stake in shares of Atlas Energy Solutions in the 2nd quarter worth about $30,468,000. Nixon Capital LLC purchased a new position in shares of Atlas Energy Solutions during the 4th quarter worth about $11,284,000. Bank of New York Mellon Corp bought a new position in Atlas Energy Solutions during the 2nd quarter valued at about $7,765,000. Finally, Kennedy Capital Management LLC raised its position in Atlas Energy Solutions by 39.3% in the 4th quarter. Kennedy Capital Management LLC now owns 1,254,992 shares of the company’s stock worth $11,822,000 after purchasing an additional 354,130 shares during the period. Institutional investors own 34.59% of the company’s stock.

About Atlas Energy Solutions

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.