Atlas Energy Solutions (NYSE:AESI) Stock Price Down 5.6% – Time to Sell?

Atlas Energy Solutions Inc. (NYSE:AESI)’s share price dropped 5.6% during mid-day trading on Monday . The stock traded as low as $7.64 and last traded at $7.6940. Approximately 177,467 shares changed hands during trading, a decline of 91% from the average daily volume of 1,996,429 shares. The stock had previously closed at $8.15.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on AESI shares. Piper Sandler dropped their price objective on Atlas Energy Solutions from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, November 17th. Weiss Ratings restated a “hold (c-)” rating on shares of Atlas Energy Solutions in a research note on Wednesday. Citigroup reduced their price objective on shares of 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. Barclays reissued an “underweight” rating and set a $7.00 target price (down from $11.00) on shares of Atlas Energy Solutions in a research report on Friday, November 14th. Finally, The Goldman Sachs Group downgraded Atlas Energy Solutions from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $12.00 to $8.00 in a research note on Thursday. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $15.94.

Atlas Energy Solutions Stock Performance

The stock has a market cap of $1.01 billion, a P/E ratio of -90.09 and a beta of 1.17. The firm has a 50 day moving average of $10.75 and a two-hundred day moving average of $12.09. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.09 and a current ratio of 1.35.

Institutional Investors Weigh In On Atlas Energy Solutions

Several hedge funds have recently made changes to their positions in AESI. American Century Companies Inc. raised its holdings in shares of Atlas Energy Solutions by 144.8% in the 1st quarter. American Century Companies Inc. now owns 677,849 shares of the company’s stock worth $12,093,000 after buying an additional 400,984 shares in the last quarter. Vanguard Group Inc. raised its stake in Atlas Energy Solutions by 16.5% during the first quarter. Vanguard Group Inc. now owns 8,054,677 shares of the company’s stock worth $143,695,000 after acquiring an additional 1,139,352 shares in the last quarter. Burkehill Global Management LP bought a new position in shares of Atlas Energy Solutions during the first quarter valued at $8,474,000. Northern Trust Corp grew its holdings in shares of Atlas Energy Solutions by 7.6% in the 1st quarter. Northern Trust Corp now owns 966,528 shares of the company’s stock worth $17,243,000 after purchasing an additional 68,275 shares during the last quarter. Finally, Ashford Capital Management Inc. lifted its holdings in Atlas Energy Solutions by 46.0% during the 1st quarter. Ashford Capital Management Inc. now owns 1,164,775 shares of the company’s stock valued at $20,780,000 after purchasing an additional 367,100 shares during the last quarter. 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.