Atlas Energy Solutions (NYSE:AESI) Trading Down 7.9% - What's Next?

Key Points

• Atlas Energy Solutions shares fell 7.9% on Thursday, trading as low as $13.48 and closing near $13.40, well below the prior close of $14.55.
• Despite the drop, Wall Street analysts remain mixed but generally constructive: the stock has a consensus rating of “Hold” with an average price target of $19.62, and several firms recently raised their targets or upgraded the stock.
• Institutional investors have been adding to positions, with several funds buying new stakes or increasing holdings; overall, 34.59% of the company is owned by institutions.

Shares of Atlas Energy Solutions Inc. (NYSE:AESI - Get Free Report) traded down 7.9% during trading on Thursday . The company traded as low as $13.48 and last traded at $13.3990. 906,206 shares traded hands during trading, a decline of 74% from the average session volume of 3,530,268 shares. The stock had previously closed at $14.55.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Raymond James Financial raised shares of Atlas Energy Solutions from a "market perform" rating to an "outperform" rating and set a $25.00 price objective for the company in a research note on Tuesday, June 2nd. Stifel Nicolaus set a $28.00 price objective on Atlas Energy Solutions in a research report on Friday, May 1st. Weiss Ratings upgraded Atlas Energy Solutions from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday, June 5th. Royal Bank Of Canada lifted their target price on Atlas Energy Solutions from $14.00 to $20.00 and gave the stock a "sector perform" rating in a research report on Wednesday, May 6th. Finally, Piper Sandler boosted their target price on shares of Atlas Energy Solutions from $13.00 to $19.00 and gave the company a "neutral" rating in a research note on Monday, May 18th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $19.62.

Atlas Energy Solutions Price Performance

The firm has a fifty day simple moving average of $16.48 and a 200 day simple moving average of $14.02. The company has a market capitalization of $1.63 billion, a PE ratio of -16.47 and a beta of 1.01. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.94 and a current ratio of 1.17.

Institutional Trading of Atlas Energy Solutions

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wasatch Advisors LP purchased a new stake in Atlas Energy Solutions in the second quarter worth about $30,468,000. Steadtrust LLC increased its position in Atlas Energy Solutions by 27.5% during the 2nd quarter. Steadtrust LLC now owns 102,000 shares of the company's stock valued at $1,694,000 after purchasing an additional 22,000 shares during the period. Tactive Advisors LLC raised its holdings in shares of Atlas Energy Solutions by 12.1% in the 2nd quarter. Tactive Advisors LLC now owns 68,291 shares of the company's stock valued at $1,134,000 after purchasing an additional 7,359 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Atlas Energy Solutions in the 2nd quarter valued at about $3,502,000. Finally, Empowered Funds LLC purchased a new stake in shares of Atlas Energy Solutions in the 1st quarter worth approximately $932,000. 34.59% of the stock is currently owned by institutional investors.

Atlas Energy Solutions Company Profile

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.

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