Atlas Energy Solutions (NYSE:AESI) Stock Price Down 4.6% – Here’s What Happened

Atlas Energy Solutions Inc. (NYSE:AESI)’s stock price dropped 4.6% during mid-day trading on Friday . The company traded as low as $12.36 and last traded at $12.39. Approximately 816,815 shares were traded during trading, a decline of 77% from the average session volume of 3,592,230 shares. The stock had previously closed at $12.99.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AESI. Raymond James Financial raised shares of 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. Citigroup dropped their price objective on shares of Atlas Energy Solutions from $22.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, July 15th. Barclays cut their target price on shares of Atlas Energy Solutions from $14.00 to $10.00 and set an “underweight” rating on the stock in a research note on Friday, August 7th. Stifel Nicolaus reduced their target price on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Finally, Royal Bank Of Canada decreased their price target on shares of Atlas Energy Solutions from $21.00 to $17.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 5th. 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $18.12.

Atlas Energy Solutions Price Performance

The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of -13.22 and a beta of 1.13. The stock’s fifty day moving average price is $13.77 and its two-hundred day moving average price is $14.13. The company has a current ratio of 1.82, a quick ratio of 1.58 and a debt-to-equity ratio of 0.87.

Atlas Energy Solutions (NYSE:AESI) last issued its 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). 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%.The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.04) EPS. Equities research analysts expect that Atlas Energy Solutions Inc. will post -0.8 EPS for the current year.

Hedge Funds Weigh In On Atlas Energy Solutions

A number of hedge funds have recently modified their holdings of AESI. EverSource Wealth Advisors LLC acquired a new position in shares of Atlas Energy Solutions in the 2nd quarter valued at $25,000. Quarry LP acquired a new stake in Atlas Energy Solutions during the 3rd quarter worth $26,000. Caitong International Asset Management Co. Ltd grew its position in Atlas Energy Solutions by 91,500.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,748 shares of the company’s stock worth $26,000 after purchasing an additional 2,745 shares during the last quarter. Islay Capital Management LLC purchased a new position in Atlas Energy Solutions during the 4th quarter worth $28,000. Finally, State of Wyoming acquired a new position in Atlas Energy Solutions in the first quarter valued at $48,000. 34.59% of the stock is currently owned by hedge funds and other institutional investors.

About Atlas Energy Solutions

Atlas Energy Solutions (NYSE: AESI) is an independent energy infrastructure company specializing in the development and operation of low-carbon and renewable natural gas (RNG) projects alongside complementary clean energy offerings. Through its diversified platform, the company seeks to deliver decarbonization solutions across heavy-duty transportation and industrial markets, leveraging technologies that reduce greenhouse gas emissions while providing reliable fuel and energy services.

The company’s core business activities encompass four primary segments.