Atlas Energy Solutions (NYSE:AESI) Trading 6.6% Higher – Should You Buy?

Atlas Energy Solutions Inc. (NYSE:AESI) shares rose 6.6% during trading on Thursday . The company traded as high as $9.14 and last traded at $9.0950. Approximately 1,437,382 shares traded hands during trading, a decline of 26% from the average daily volume of 1,948,592 shares. The stock had previously closed at $8.53.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AESI shares. Stifel Nicolaus decreased their target price 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. Barclays cut their target price on shares of Atlas Energy Solutions from $12.00 to $11.00 and set an “equal weight” rating on the stock in a report on Monday, October 13th. Piper Sandler decreased their price target 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. Weiss Ratings raised shares of Atlas Energy Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, November 7th. Finally, Citigroup reduced their target price on shares of Atlas Energy Solutions from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Wednesday, October 1st. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Atlas Energy Solutions presently has an average rating of “Hold” and an average target price of $17.39.

Atlas Energy Solutions Stock Performance

The company has a market cap of $1.13 billion, a PE ratio of -101.50 and a beta of 1.18. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.09 and a current ratio of 1.35. The stock’s 50-day simple moving average is $11.04 and its 200 day simple moving average is $12.35.

Hedge Funds Weigh In On Atlas Energy Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC acquired a new stake in shares of Atlas Energy Solutions in the 2nd quarter valued at approximately $25,000. Larson Financial Group LLC lifted its holdings in Atlas Energy Solutions by 201.8% in the first quarter. Larson Financial Group LLC now owns 1,968 shares of the company’s stock valued at $35,000 after acquiring an additional 1,316 shares during the period. CWM LLC boosted its position in shares of Atlas Energy Solutions by 244.4% during the 2nd quarter. CWM LLC now owns 2,235 shares of the company’s stock worth $30,000 after purchasing an additional 1,586 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Atlas Energy Solutions by 233.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,668 shares of the company’s stock worth $36,000 after purchasing an additional 1,868 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Atlas Energy Solutions in the 2nd quarter valued at about $36,000. Institutional investors and hedge funds 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.