Atlas Energy Solutions (NYSE:AESI) Reaches New 1-Year Low Following Analyst Downgrade

Shares of Atlas Energy Solutions Inc. (NYSE:AESI) hit a new 52-week low during trading on Tuesday after Stifel Nicolaus lowered their price target on the stock from $25.00 to $21.00. Stifel Nicolaus currently has a buy rating on the stock. Atlas Energy Solutions traded as low as $5.08 and last traded at $5.4170, with a volume of 465,692 shares trading hands. The stock had previously closed at $5.54.

AESI has been the topic of several other research reports. Piper Sandler decreased their target price on Atlas Energy Solutions from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, November 4th. Stephens cut their price target on Atlas Energy Solutions from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Monday, October 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of Atlas Energy Solutions in a report on Wednesday, November 4th. Scotiabank lifted their price objective on Atlas Energy Solutions from $17.00 to $18.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, November 4th. Finally, Glj Research began coverage on Atlas Energy Solutions in a report on Wednesday, October 28th. They set a “buy” rating and a $13.00 price objective for the company. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Atlas Energy Solutions has an average rating of “Hold” and a consensus target price of $16.50.

Hedge Funds Weigh In On Atlas Energy Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in Atlas Energy Solutions by 12.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,502,480 shares of the company’s stock valued at $19,713,000 after purchasing an additional 167,758 shares during the last quarter. CenterBook Partners LP increased its holdings in shares of Atlas Energy Solutions by 84.8% in the third quarter. CenterBook Partners LP now owns 1,180,943 shares of the company’s stock valued at $14,183,000 after purchasing an additional 541,774 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Atlas Energy Solutions in the second quarter valued at $7,765,000. Encompass Capital Advisors LLC bought a new position in shares of Atlas Energy Solutions in the first quarter valued at about $119,854,000. Finally, Readystate Asset Management LP bought a new position in shares of Atlas Energy Solutions in the first quarter valued at about $1,459,000. 34.59% of the stock is owned by institutional investors.

Atlas Energy Solutions Trading Down 2.9%

The business’s 50 day moving average price is $11.15 and its 200-day moving average price is $13.23. The company has a current ratio of 1.22, a quick ratio of 1.58 and a debt-to-equity ratio of 0.92. The company has a market cap of $672.50 million, a price-to-earnings ratio of -4.82 and a beta of 1.29.

Atlas Energy Solutions (NYSE:AESI) last released its quarterly earnings results on Monday, November 2nd. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.12). The firm had revenue of $267.78 million for the quarter, compared to analyst estimates of $265.32 million. Atlas Energy Solutions had a negative return on equity of 12.38% and a negative net margin of 12.98%. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.19) earnings per share. On average, equities analysts anticipate that Atlas Energy Solutions Inc. will post -0.95 EPS for the current fiscal year.

Atlas Energy Solutions Company Profile

Atlas Energy Solutions Inc is a U.S. energy-services company that supplies proppant, primarily frac sand, used in hydraulic fracturing. The company mines, processes and distributes sand for oil and natural gas operators.

Atlas also provides logistics services to move proppant from its facilities to well sites, including transportation and storage. Its operations are focused on the Permian Basin in West Texas and southeastern New Mexico, a major oil and gas producing region.

Founded in 2017, the company has developed an integrated supply and logistics network serving energy producers in the region.