Atlas Energy Solutions (NYSE:AESI) Shares Gap Down – Here’s What Happened

Shares of Atlas Energy Solutions Inc. (NYSE:AESI) 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.

Wall Street Analyst Weigh In

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

Atlas Energy Solutions Stock Down 0.4%

The company has a market cap of $1.10 billion, a price-to-earnings ratio of -98.61 and a beta of 1.18. The business has a 50-day simple moving average of $10.99 and a two-hundred day simple moving average of $12.32. The company has a quick ratio of 1.09, a current ratio of 1.35 and a debt-to-equity ratio of 0.43.

Hedge Funds Weigh In On Atlas Energy Solutions

A number of institutional investors have recently modified their holdings of AESI. Squarepoint Ops LLC boosted its holdings in shares of Atlas Energy Solutions by 132.4% during the 3rd quarter. Squarepoint Ops LLC now owns 653,204 shares of the company’s stock worth $7,427,000 after buying an additional 372,148 shares during the period. Comerica Bank lifted its position in Atlas Energy Solutions by 2.2% during the 3rd quarter. Comerica Bank now owns 70,197 shares of the company’s stock worth $798,000 after acquiring an additional 1,504 shares during the last quarter. Jump Financial LLC boosted its holdings in Atlas Energy Solutions by 1,516.5% during the third quarter. Jump Financial LLC now owns 258,466 shares of the company’s stock valued at $2,939,000 after acquiring an additional 242,477 shares during the period. Pathstone Holdings LLC grew its position in shares of Atlas Energy Solutions by 16.6% in the third quarter. Pathstone Holdings LLC now owns 178,538 shares of the company’s stock valued at $2,030,000 after purchasing an additional 25,480 shares during the last quarter. Finally, Boston Partners increased its stake in shares of Atlas Energy Solutions by 394.6% in the third quarter. Boston Partners now owns 231,844 shares of the company’s stock worth $2,636,000 after purchasing an additional 184,971 shares during the period. Institutional investors own 34.59% of the company’s stock.

About Atlas Energy Solutions

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.