Atlas Energy Solutions (NYSE:AESI) Stock Price Down 5.1% - Here's What Happened

Key Points

• Atlas Energy Solutions shares fell 5.1% to $11.67, with trading volume 45% below its average daily level.
• Analyst sentiment remains mixed: the stock has an average rating of “Hold” and a consensus price target of $17.22, with recent targets ranging from $12 to $25.
• The company missed quarterly EPS expectations, reporting a $0.20 loss per share versus the expected $0.15 loss, although revenue of $293.18 million exceeded estimates and rose 1.6% year over year.

Atlas Energy Solutions Inc. (NYSE:AESI - Get Free Report)'s stock price fell 5.1% on Tuesday. The company traded as low as $11.64 and last traded at $11.67. 1,973,485 shares were traded during trading, a decline of 45% from the average session volume of 3,573,220 shares. The stock had previously closed at $12.30.

Analysts Set New Price Targets

Several analysts have recently issued reports on AESI shares. Barclays upgraded shares of Atlas Energy Solutions from an "underweight" rating to an "equal weight" rating and lifted their target price for the company from $10.00 to $14.00 in a research report on Monday. The Goldman Sachs Group set a $12.00 price objective on Atlas Energy Solutions 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 target price for the company in a report on Tuesday, June 2nd. Piper Sandler lowered their price target on Atlas Energy Solutions from $19.00 to $15.00 and set a "neutral" rating on the stock in a research note on Thursday, August 27th. Finally, Scotiabank initiated coverage on Atlas Energy Solutions in a research report on Tuesday. They set a "sector outperform" rating and a $14.00 price target for the company. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $17.22.

Atlas Energy Solutions Price Performance

The company has a quick ratio of 1.58, a current ratio of 1.82 and a debt-to-equity ratio of 0.87. The company has a market cap of $1.45 billion, a PE ratio of -12.28 and a beta of 1.17. The stock has a 50-day simple moving average of $12.46 and a 200 day simple moving average of $14.45.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.05). Atlas Energy Solutions had a negative return on equity of 9.57% and a negative net margin of 11.08%.The business had revenue of $293.18 million for the quarter, compared to analyst estimates of $282.24 million. During the same period in the previous year, the business posted ($0.04) earnings per share. The firm's revenue for the quarter was up 1.6% compared to the same quarter last year. Equities analysts expect that Atlas Energy Solutions Inc. will post -0.94 EPS for the current year.

Institutional Trading of Atlas Energy Solutions

A number of large investors have recently modified their holdings of AESI. Tidal Investments LLC grew its holdings in Atlas Energy Solutions by 56.3% during the 2nd quarter. Tidal Investments LLC now owns 152,010 shares of the company's stock worth $2,525,000 after acquiring an additional 54,731 shares in the last quarter. AXQ Capital LP boosted its holdings in shares of Atlas Energy Solutions by 349.6% in the 2nd quarter. AXQ Capital LP now owns 53,340 shares of the company's stock valued at $886,000 after buying an additional 41,475 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Atlas Energy Solutions during the 2nd quarter worth $278,000. Citizens Financial Group Inc. RI acquired a new stake in Atlas Energy Solutions during the 2nd quarter worth $379,000. Finally, Bank of New York Mellon Corp purchased a new stake in Atlas Energy Solutions in the second quarter valued at $7,765,000. Hedge funds and other institutional investors own 34.59% of the company's stock.

Atlas Energy Solutions Company Profile

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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