Atlas Energy Solutions (NYSE:AESI) Trading Down 4.3% – Should You Sell?

Atlas Energy Solutions Inc. (NYSE:AESI)’s stock price was down 4.3% during trading on Monday . The company traded as low as $13.06 and last traded at $12.9650. Approximately 265,640 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 3,508,530 shares. The stock had previously closed at $13.55.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on AESI shares. Weiss Ratings downgraded Atlas Energy Solutions from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, August 7th. The Goldman Sachs Group set a $12.00 price target on Atlas Energy Solutions in a research report on Friday, August 7th. Piper Sandler cut their price target 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. Raymond James Financial raised Atlas Energy Solutions from a “market perform” rating to an “outperform” rating and set a $25.00 price objective for the company in a report on Tuesday, June 2nd. Finally, Barclays dropped their price objective on shares of Atlas Energy Solutions from $14.00 to $10.00 and set an “underweight” rating on the stock in a report on Friday, August 7th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $17.12.

Atlas Energy Solutions Trading Down 4.0%

The firm’s 50 day moving average is $12.72 and its 200 day moving average is $14.41. 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 company has a market cap of $1.63 billion, a PE ratio of -13.65 and a beta of 1.17.

Atlas Energy Solutions (NYSE:AESI) last released 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 for the quarter, compared to analysts’ expectations of $282.24 million. During the same quarter last year, the firm earned ($0.04) earnings per share. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, equities analysts anticipate that Atlas Energy Solutions Inc. will post -0.94 earnings per share for the current year.

Institutional Investors Weigh In On Atlas Energy Solutions

A number of large investors have recently modified their holdings of the stock. Tidal Investments LLC increased its stake in shares of Atlas Energy Solutions by 56.3% during the second quarter. Tidal Investments LLC now owns 152,010 shares of the company’s stock valued at $2,525,000 after purchasing an additional 54,731 shares in the last quarter. AXQ Capital LP lifted its position in Atlas Energy Solutions by 349.6% during the second quarter. AXQ Capital LP now owns 53,340 shares of the company’s stock valued at $886,000 after purchasing an additional 41,475 shares during the period. Headlands Technologies LLC purchased a new stake in Atlas Energy Solutions in the second quarter worth approximately $278,000. Citizens Financial Group Inc. RI purchased a new stake in Atlas Energy Solutions in the second quarter worth approximately $379,000. Finally, Bank of New York Mellon Corp bought a new stake in Atlas Energy Solutions in the 2nd quarter worth approximately $7,765,000. Institutional investors own 34.59% of the company’s stock.

About Atlas Energy Solutions

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.