Atlas Energy Solutions (NYSE:AESI) Shares Gap Down – What’s Next?

Atlas Energy Solutions Inc. (NYSE:AESI) shares gapped down prior to trading on Friday . The stock had previously closed at $8.89, but opened at $8.22. Atlas Energy Solutions shares last traded at $8.89, with a volume of 913,183 shares trading hands.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AESI. Stifel Nicolaus dropped their target price on shares of Atlas Energy Solutions from $14.50 to $14.00 and set a “buy” rating on the stock in a research report on Monday, August 11th. Piper Sandler decreased their price target on shares of Atlas Energy Solutions from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, October 16th. Weiss Ratings raised shares of Atlas Energy Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, November 7th. Barclays reiterated an “underweight” rating and issued a $7.00 target price (down previously from $11.00) on shares of Atlas Energy Solutions in a research note on Friday. Finally, Citigroup lowered their price target on Atlas Energy Solutions from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 1st. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $16.94.

Atlas Energy Solutions Stock Performance

The company has a debt-to-equity ratio of 0.43, a current ratio of 1.35 and a quick ratio of 1.09. The firm has a market cap of $1.10 billion, a P/E ratio of -98.61 and a beta of 1.18. The stock’s 50 day moving average is $10.99 and its two-hundred day moving average is $12.32.

Institutional Trading of Atlas Energy Solutions

Institutional investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. lifted its stake in shares of Atlas Energy Solutions by 9.6% during the first quarter. Envestnet Asset Management Inc. now owns 381,094 shares of the company’s stock valued at $6,799,000 after acquiring an additional 33,404 shares during the period. American Century Companies Inc. increased its position in Atlas Energy Solutions by 144.8% in the first quarter. American Century Companies Inc. now owns 677,849 shares of the company’s stock worth $12,093,000 after purchasing an additional 400,984 shares during the period. Vanguard Group Inc. raised its holdings in Atlas Energy Solutions by 16.5% during the 1st quarter. Vanguard Group Inc. now owns 8,054,677 shares of the company’s stock worth $143,695,000 after purchasing an additional 1,139,352 shares during the last quarter. Burkehill Global Management LP acquired a new position in Atlas Energy Solutions during the 1st quarter valued at about $8,474,000. Finally, Northern Trust Corp grew its position in shares of Atlas Energy Solutions by 7.6% during the 1st quarter. Northern Trust Corp now owns 966,528 shares of the company’s stock worth $17,243,000 after buying an additional 68,275 shares during the period. Institutional investors and hedge funds own 34.59% of the company’s stock.

Atlas Energy Solutions Company Profile

Atlas Energy Solutions Inc engages in the production, processing, and sale of mesh and sand that are used as a proppant during the well completion process in the Permian Basin of Texas and New Mexico. The company provides transportation and logistics, storage solutions, and contract labor services. It sells its products and services to oil and natural gas exploration and production companies, and oilfield services companies.