Atlas Energy Solutions (NYSE:AESI) Shares Down 8.6% - Time to Sell?

Key Points

• Atlas Energy Solutions shares fell 8.6% to $12.94, with trading volume 58% below its average. The stock is near its 50-day moving average of $12.79 and below its 200-day average of $14.29.
• 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, though several firms recently lowered their targets.
• The company missed quarterly EPS expectations, reporting a loss of $0.20 per share versus the expected $0.15 loss, while revenue exceeded estimates at $293.18 million. Atlas posted negative margins and return on equity, and analysts expect a full-year loss of $0.94 per share.

Shares of Atlas Energy Solutions Inc. (NYSE:AESI - Get Free Report) were down 8.6% on Monday . The stock traded as low as $12.99 and last traded at $12.94. 1,480,151 shares traded hands during trading, a decline of 58% from the average daily volume of 3,540,314 shares. The stock had previously closed at $14.16.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AESI shares. The Goldman Sachs Group set a $12.00 price target on shares of Atlas Energy Solutions in a research report on Friday, August 7th. Stifel Nicolaus reduced their price objective on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a "buy" rating for the company in a research report on Thursday, August 6th. Weiss Ratings cut shares of Atlas Energy Solutions from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, August 7th. Citigroup dropped their target price on shares of Atlas Energy Solutions from $21.00 to $17.00 and set a "buy" rating on the stock in a report on Thursday, September 3rd. Finally, Barclays cut their target price on shares of Atlas Energy Solutions from $14.00 to $10.00 and set an "underweight" rating for the company in a research note on Friday, August 7th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $17.12.

Atlas Energy Solutions Price Performance

The stock has a 50 day moving average of $12.79 and a two-hundred day moving average of $14.29. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.58 and a current ratio of 1.82. The stock has a market cap of $1.62 billion, a PE ratio of -13.62 and a beta of 1.17.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last posted its quarterly earnings data 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 analysts' expectations of $282.24 million. Atlas Energy Solutions had a negative net margin of 11.08% and a negative return on equity of 9.57%. Atlas Energy Solutions's quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.04) earnings per share. Equities analysts anticipate that Atlas Energy Solutions Inc. will post -0.94 EPS for the current year.

Hedge Funds Weigh In On Atlas Energy Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AESI. Dimensional Fund Advisors LP grew its holdings 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 valued at $19,713,000 after buying an additional 167,758 shares in the last quarter. Encompass Capital Advisors LLC acquired a new stake in shares of Atlas Energy Solutions during the 1st quarter valued at $119,854,000. Assenagon Asset Management S.A. purchased a new position in shares of Atlas Energy Solutions during the 2nd quarter valued at $3,502,000. Readystate Asset Management LP acquired a new position in shares of Atlas Energy Solutions in the first quarter worth $1,459,000. Finally, Wasatch Advisors LP acquired a new position in Atlas Energy Solutions in the 2nd quarter worth about $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.

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