Atlas Energy Solutions (NYSE:AESI) Stock Price Down 8.6% – Time to Sell?

Atlas Energy Solutions Inc. (NYSE:AESI)’s stock price was down 8.6% during trading on Monday . The company traded as low as $12.99 and last traded at $12.94. Approximately 1,480,151 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 3,540,314 shares. The stock had previously closed at $14.16.

Analysts Set New Price Targets

A number of analysts have weighed in on AESI shares. Royal Bank Of Canada reduced their price target on shares of 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 dropped their price objective on Atlas Energy Solutions from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, September 3rd. Barclays cut their target price 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. Stifel Nicolaus decreased their price objective on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Finally, Piper Sandler lowered their target price on Atlas Energy Solutions from $19.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, August 27th. Four research 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. According to MarketBeat.com, Atlas Energy Solutions presently has an average rating of “Hold” and a consensus price target of $17.12.

Atlas Energy Solutions Trading Down 8.7%

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 business’s 50-day moving average is $12.79 and its two-hundred day moving average is $14.29. The firm has a market cap of $1.62 billion, a P/E ratio of -13.62 and a beta of 1.17.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings results on Monday, August 3rd. The company reported ($0.20) EPS 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 firm had revenue of $293.18 million during the quarter, compared to analyst estimates of $282.24 million. During the same quarter in the prior year, the business earned ($0.04) EPS. The business’s revenue was up 1.6% compared to the same quarter last year. As a group, analysts predict that Atlas Energy Solutions Inc. will post -0.94 earnings per share for the current fiscal year.

Institutional Trading of Atlas Energy Solutions

Several large investors have recently made changes to their positions in AESI. EverSource Wealth Advisors LLC acquired a new position in Atlas Energy Solutions during the second quarter worth about $25,000. Quarry LP bought a new position in Atlas Energy Solutions during the 3rd quarter worth $26,000. Caitong International Asset Management Co. Ltd raised its position in shares of Atlas Energy Solutions by 91,500.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,748 shares of the company’s stock worth $26,000 after acquiring an additional 2,745 shares during the last quarter. Islay Capital Management LLC acquired a new position in shares of Atlas Energy Solutions in the 4th quarter worth approximately $28,000. Finally, State of Wyoming bought a new stake in Atlas Energy Solutions during the first quarter valued at $48,000. Institutional investors and hedge funds own 34.59% of the company’s stock.

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.