Atlas Energy Solutions (NYSE:AESI) Shares Down 7% – Time to Sell?

Atlas Energy Solutions Inc. (NYSE:AESI) shares fell 7% during mid-day trading on Thursday. The company traded as low as $10.20 and last traded at $10.2960. Approximately 1,970,523 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 3,544,310 shares. The stock had previously closed at $11.07.

Analyst Ratings Changes

A number of brokerages recently issued reports on AESI. Piper Sandler dropped 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 report on Thursday, August 27th. Citigroup reduced their target price on shares of Atlas Energy Solutions from $21.00 to $17.00 and set a “buy” rating on the stock in a research note on Thursday, September 3rd. The Goldman Sachs Group set a $12.00 target price on shares of Atlas Energy Solutions in a report on Friday, August 7th. Royal Bank Of Canada dropped 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 research note on Wednesday, August 5th. Finally, Stephens cut their price target on shares of Atlas Energy Solutions from $22.00 to $20.00 and set an “overweight” rating for the company in a report on Monday, October 5th. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Atlas Energy Solutions has a consensus rating of “Hold” and a consensus price target of $17.56.

Atlas Energy Solutions Trading Down 6.5%

The firm has a market cap of $1.29 billion, a price-to-earnings ratio of -10.86 and a beta of 1.19. 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 has a 50 day moving average price of $12.55 and a 200 day moving average price of $14.33.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Encompass Capital Advisors LLC acquired a new stake in shares of Atlas Energy Solutions during the first quarter valued at about $119,854,000. Wasatch Advisors LP acquired a new position in shares of Atlas Energy Solutions in the 2nd quarter worth approximately $30,468,000. Dimensional Fund Advisors LP lifted its holdings in shares of Atlas Energy Solutions by 12.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,502,480 shares of the company’s stock worth $19,713,000 after acquiring an additional 167,758 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Atlas Energy Solutions by 81.2% during the 1st quarter. Bank of America Corp DE now owns 526,613 shares of the company’s stock worth $6,909,000 after purchasing an additional 236,010 shares during the period. Finally, Lazard Asset Management LLC boosted its position in shares of Atlas Energy Solutions by 48.3% during the 1st quarter. Lazard Asset Management LLC now owns 525,301 shares of the company’s stock worth $6,892,000 after purchasing an additional 171,188 shares during the period. Hedge funds and other institutional investors own 34.59% of the company’s stock.

Atlas Energy Solutions Company Profile

Atlas Energy Solutions Inc (NYSE: AESI) is a provider of proppant and logistics services for the oil and natural gas industry. The company primarily serves exploration and production companies operating in the Permian Basin, one of the largest onshore oil-producing regions in the United States.

Atlas produces and supplies frac sand, a specialized proppant used in hydraulic fracturing to help keep fractures open and improve the flow of hydrocarbons from underground formations. Its operations include sand mining, processing, storage and distribution, with facilities located in or near the Permian Basin of West Texas.

The company also provides transportation and logistics solutions designed to move large volumes of proppant from its mines to well sites.