Squarepoint Ops LLC Sells 229,372 Shares of Atlas Energy Solutions Inc. $AESI

Key Points

• Squarepoint Ops LLC cut its Atlas Energy Solutions stake by 75.1% in the second quarter, selling 229,372 shares and retaining 76,208 shares valued at approximately $1.27 million.
• Analyst sentiment is mixed, with four Buy, three Hold, and three Sell ratings. The consensus rating is Hold, with an average price target of $17.12 versus the stock’s recent price of $13.56.
• Atlas Energy Solutions reported a quarterly loss of $0.20 per share, missing estimates by $0.05, although revenue of $293.18 million exceeded expectations and rose 1.6% year over year.

Squarepoint Ops LLC cut its position in Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 75.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 76,208 shares of the company's stock after selling 229,372 shares during the quarter. Squarepoint Ops LLC owned 0.06% of Atlas Energy Solutions worth $1,266,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in Atlas Energy Solutions by 12.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,502,480 shares of the company's stock valued at $19,713,000 after acquiring an additional 167,758 shares during the last quarter. Encompass Capital Advisors LLC bought a new stake in Atlas Energy Solutions during the first quarter worth $119,854,000. Readystate Asset Management LP acquired a new stake in shares of Atlas Energy Solutions in the 1st quarter valued at $1,459,000. Assenagon Asset Management S.A. acquired a new stake in shares of Atlas Energy Solutions in the 2nd quarter valued at $3,502,000. Finally, Wasatch Advisors LP bought a new position in shares of Atlas Energy Solutions in the 2nd quarter valued at $30,468,000. Institutional investors own 34.59% of the company's stock.

Wall Street Analyst Weigh In

AESI has been the subject of a number of research analyst reports. Weiss Ratings cut Atlas Energy Solutions from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, August 7th. Raymond James Financial raised Atlas Energy Solutions from a "market perform" rating to an "outperform" rating and set a $25.00 price objective on the stock in a research note on Tuesday, June 2nd. Stifel Nicolaus decreased their target price on Atlas Energy Solutions from $28.00 to $25.00 and set a "buy" rating on the stock in a research report on Thursday, August 6th. Royal Bank Of Canada lowered their target price on Atlas Energy Solutions from $21.00 to $17.00 and set a "sector perform" rating for the company in a research note on Wednesday, August 5th. Finally, Piper Sandler dropped their target price on shares of Atlas Energy Solutions from $19.00 to $15.00 and set a "neutral" rating for the company in a report on Thursday, August 27th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $17.12.

Atlas Energy Solutions Stock Down 0.5%

Shares of NYSE:AESI opened at $13.56 on Thursday. The company has a fifty day moving average of $12.76 and a 200-day moving average of $14.36. The company has a market capitalization of $1.70 billion, a PE ratio of -14.28 and a beta of 1.17. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.58 and a current ratio of 1.82. Atlas Energy Solutions Inc. has a 52-week low of $7.64 and a 52-week high of $20.13.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate 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 net margin of 11.08% and a negative return on equity of 9.57%. The company's revenue was up 1.6% compared to the same quarter last year. During the same period last year, the business earned ($0.04) EPS. On average, equities analysts predict that Atlas Energy Solutions Inc. will post -0.94 EPS for the current fiscal year.

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.

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