Atlas Energy Solutions (NYSE:AESI) Trading Down 4.3% – What’s Next?

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

Analyst Ratings Changes

AESI has been the subject of a number of recent research reports. Citigroup decreased their price objective on Atlas Energy Solutions from $21.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, September 3rd. The Goldman Sachs Group set a $12.00 target price on Atlas Energy Solutions in a report on Friday, August 7th. Raymond James Financial upgraded Atlas Energy Solutions from a “market perform” rating to an “outperform” rating and set a $25.00 price target on the stock in a research report on Tuesday, June 2nd. Piper Sandler decreased 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. Finally, Barclays lowered their price objective on Atlas Energy Solutions from $14.00 to $10.00 and set an “underweight” rating for the company in a research report on Friday, August 7th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Atlas Energy Solutions currently has an average rating of “Hold” and a consensus price target of $17.12.

Atlas Energy Solutions Trading Down 9.8%

The company has a market cap of $1.50 billion, a price-to-earnings ratio of -12.60 and a beta of 1.17. The company has a current ratio of 1.82, a quick ratio of 1.58 and a debt-to-equity ratio of 0.87. The firm’s 50-day moving average price is $12.64 and its 200 day moving average price is $14.45.

Atlas Energy Solutions (NYSE:AESI) last released its earnings results on Monday, August 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.05). The company had revenue of $293.18 million for the quarter, compared to analyst estimates of $282.24 million. Atlas Energy Solutions had a negative net margin of 11.08% and a negative return on equity of 9.57%. The firm’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.04) EPS. As a group, equities analysts expect that Atlas Energy Solutions Inc. will post -0.94 EPS for the current year.

Hedge Funds Weigh In On Atlas Energy Solutions

Institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its position in shares of Atlas Energy Solutions by 12.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,502,480 shares of the company’s stock worth $19,713,000 after purchasing an additional 167,758 shares during the period. Encompass Capital Advisors LLC acquired a new stake in Atlas Energy Solutions in the 1st quarter valued at $119,854,000. Readystate Asset Management LP acquired a new stake in Atlas Energy Solutions in the 1st quarter valued at $1,459,000. Assenagon Asset Management S.A. bought a new stake in Atlas Energy Solutions during the 2nd quarter valued at $3,502,000. Finally, Wasatch Advisors LP bought a new stake in Atlas Energy Solutions during the 2nd quarter valued at $30,468,000. Institutional investors and hedge funds 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.