Atlas Energy Solutions (NYSE:AESI) Stock Price Down 4.6% – Here’s What Happened

Atlas Energy Solutions Inc. (NYSE:AESI)’s stock price was down 4.6% on Friday . The stock traded as low as $12.36 and last traded at $12.39. 816,815 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 3,592,230 shares. The stock had previously closed at $12.99.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Barclays dropped their price target on shares of Atlas Energy Solutions from $14.00 to $10.00 and set an “underweight” rating for the company in a research note on Friday, August 7th. The Goldman Sachs Group set a $12.00 price target on shares of Atlas Energy Solutions in a research report on Friday, August 7th. Royal Bank Of Canada lowered their price objective on Atlas Energy Solutions from $21.00 to $17.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 5th. Weiss Ratings lowered Atlas Energy Solutions from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, August 7th. Finally, Raymond James Financial raised Atlas Energy Solutions from a “market perform” rating to an “outperform” rating and set a $25.00 target price for the company in a research note on Tuesday, June 2nd. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $18.12.

Atlas Energy Solutions Trading Down 3.3%

The company has a debt-to-equity ratio of 0.87, a current ratio of 1.82 and a quick ratio of 1.58. The company has a market cap of $1.57 billion, a PE ratio of -13.22 and a beta of 1.13. The company’s 50 day simple moving average is $13.77 and its two-hundred day simple moving average is $14.13.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings results on Monday, August 3rd. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.05). Atlas Energy Solutions had a negative net margin of 11.08% and a negative return on equity of 9.57%. The company had revenue of $293.18 million for the quarter, compared to analyst estimates of $282.24 million. During the same quarter in the prior year, the business earned ($0.04) earnings per share. Atlas Energy Solutions’s revenue was up 1.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Atlas Energy Solutions Inc. will post -0.8 EPS for the current fiscal year.

Institutional Trading of Atlas Energy Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC purchased a new position in shares of Atlas Energy Solutions during the second quarter worth $25,000. Quarry LP purchased a new stake in shares of Atlas Energy Solutions in the 3rd quarter valued at $26,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Atlas Energy Solutions by 91,500.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,748 shares of the company’s stock valued at $26,000 after buying an additional 2,745 shares during the period. Islay Capital Management LLC acquired a new position in Atlas Energy Solutions during the 4th quarter worth about $28,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Atlas Energy Solutions during the 2nd quarter worth about $38,000. Hedge funds and other institutional investors own 34.59% of the company’s stock.

Atlas Energy Solutions Company Profile

Atlas Energy Solutions (NYSE: AESI) is an independent energy infrastructure company specializing in the development and operation of low-carbon and renewable natural gas (RNG) projects alongside complementary clean energy offerings. Through its diversified platform, the company seeks to deliver decarbonization solutions across heavy-duty transportation and industrial markets, leveraging technologies that reduce greenhouse gas emissions while providing reliable fuel and energy services.

The company’s core business activities encompass four primary segments.