Atlas Energy Solutions (NYSE:AESI) Shares Down 5.8% – Here’s Why

Atlas Energy Solutions Inc. (NYSE:AESI) shares dropped 5.8% during trading on Thursday . The stock traded as low as $17.22 and last traded at $17.1150. Approximately 1,248,418 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 3,853,141 shares. The stock had previously closed at $18.16.

Analyst Upgrades and Downgrades

AESI has been the topic of several recent analyst reports. Barclays lifted their target price on shares of Atlas Energy Solutions from $12.00 to $16.00 and gave the stock an “underweight” rating in a report on Friday, May 8th. Weiss Ratings downgraded shares of Atlas Energy Solutions from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. Stifel Nicolaus set a $28.00 target price on shares of Atlas Energy Solutions in a report on Friday, May 1st. Piper Sandler lifted their target price on shares of Atlas Energy Solutions from $13.00 to $19.00 and gave the stock a “neutral” rating in a report on Monday, May 18th. Finally, The Goldman Sachs Group lifted their target price on shares of Atlas Energy Solutions from $8.00 to $9.00 and gave the stock a “sell” rating in a report on Wednesday, March 4th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $18.57.

Atlas Energy Solutions Stock Down 6.3%

The stock has a market cap of $2.13 billion, a P/E ratio of -21.53 and a beta of 1.08. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.51. The firm’s fifty day moving average is $15.42 and its 200 day moving average is $12.21.

Insider Transactions at Atlas Energy Solutions

In other Atlas Energy Solutions news, major shareholder Chris Scholla sold 8,912 shares of the firm’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $11.79, for a total value of $105,072.48. Following the sale, the insider directly owned 567,972 shares in the company, valued at $6,696,389.88. This trade represents a 1.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 16.40% of the stock is owned by corporate insiders.

Institutional Trading of Atlas Energy Solutions

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Thrivent Financial for Lutherans grew its position in Atlas Energy Solutions by 1.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 53,631 shares of the company’s stock worth $717,000 after purchasing an additional 874 shares during the last quarter. Belpointe Asset Management LLC grew its position in Atlas Energy Solutions by 3.5% in the 3rd quarter. Belpointe Asset Management LLC now owns 36,262 shares of the company’s stock worth $412,000 after purchasing an additional 1,232 shares during the last quarter. Cetera Investment Advisers grew its position in Atlas Energy Solutions by 6.9% in the 1st quarter. Cetera Investment Advisers now owns 21,094 shares of the company’s stock worth $277,000 after purchasing an additional 1,357 shares during the last quarter. Citizens Financial Group Inc. RI grew its position in Atlas Energy Solutions by 6.0% in the 1st quarter. Citizens Financial Group Inc. RI now owns 23,966 shares of the company’s stock worth $314,000 after purchasing an additional 1,364 shares during the last quarter. Finally, Alliancebernstein L.P. grew its position in Atlas Energy Solutions by 2.1% in the 3rd quarter. Alliancebernstein L.P. now owns 72,580 shares of the company’s stock worth $825,000 after purchasing an additional 1,500 shares during the last quarter. 34.59% of the stock is currently owned by institutional investors and hedge funds.

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.