Atlas Energy Solutions (NYSE:AESI) Stock Price Down 7% – Should You Sell?

Atlas Energy Solutions Inc. (NYSE:AESI)’s share price fell 7% on Thursday. The stock traded as low as $10.20 and last traded at $10.2960. Approximately 1,970,523 shares traded 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.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Weiss Ratings downgraded Atlas Energy Solutions from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, August 7th. Stephens cut their target price on Atlas Energy Solutions from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Monday, October 5th. Piper Sandler lowered their price objective on Atlas Energy Solutions from $19.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, August 27th. Barclays cut their price objective on Atlas Energy Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, Stifel Nicolaus reduced their price objective on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $17.56.

Atlas Energy Solutions Price Performance

The stock’s 50-day moving average price is $12.51 and its 200 day moving average price is $14.28. The company has a quick ratio of 1.58, a current ratio of 1.82 and a debt-to-equity ratio of 0.87. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of -10.37 and a beta of 1.19.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings data on Monday, August 3rd. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.05). The firm 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%. Atlas Energy Solutions’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) EPS. Equities research analysts predict that Atlas Energy Solutions Inc. will post -0.95 earnings per share for the current year.

Institutional Investors Weigh In On Atlas Energy Solutions

Several institutional investors and hedge funds have recently bought and sold shares of AESI. Central Pacific Bank Trust Division raised its stake in shares of Atlas Energy Solutions by 19.9% in the 3rd quarter. Central Pacific Bank Trust Division now owns 30,472 shares of the company’s stock valued at $366,000 after buying an additional 5,067 shares in the last quarter. Tidal Investments LLC boosted its position in shares of Atlas Energy Solutions by 56.3% during the 2nd quarter. Tidal Investments LLC now owns 152,010 shares of the company’s stock valued at $2,525,000 after acquiring an additional 54,731 shares in the last quarter. AXQ Capital LP boosted its position in shares of Atlas Energy Solutions by 349.6% during the 2nd quarter. AXQ Capital LP now owns 53,340 shares of the company’s stock valued at $886,000 after acquiring an additional 41,475 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Atlas Energy Solutions during the 2nd quarter valued at about $278,000. Finally, Citizens Financial Group Inc. RI bought a new stake in Atlas Energy Solutions in the second quarter valued at about $379,000. Institutional investors own 34.59% of the company’s stock.

About Atlas Energy Solutions

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.