Atlas Energy Solutions (NYSE:AESI) Shares Gap Down – Time to Sell?

Shares of Atlas Energy Solutions Inc. (NYSE:AESI) gapped down prior to trading on Friday . The stock had previously closed at $25.02, but opened at $24.14. Atlas Energy Solutions shares last traded at $22.90, with a volume of 1,528,016 shares trading hands.

Analyst Ratings Changes

AESI has been the subject of a number of research analyst reports. Benchmark increased their price objective on shares of Atlas Energy Solutions from $23.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday. The Goldman Sachs Group started coverage on shares of Atlas Energy Solutions in a research report on Friday, December 13th. They issued a “neutral” rating and a $23.00 price target for the company. Bank of America reissued a “neutral” rating and issued a $22.50 price target on shares of Atlas Energy Solutions in a research report on Monday, January 13th. Stephens raised their price objective on shares of Atlas Energy Solutions from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Royal Bank of Canada lifted their price target on shares of Atlas Energy Solutions from $27.00 to $28.00 and gave the stock an “outperform” rating in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $25.50.

Atlas Energy Solutions Trading Down 7.0 %

The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.08. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of 29.45, a price-to-earnings-growth ratio of 7.36 and a beta of 1.03. The business’s 50 day simple moving average is $23.04 and its 200 day simple moving average is $21.53.

Atlas Energy Solutions (NYSE:AESI) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.25). The business had revenue of $304.40 million during the quarter, compared to analyst estimates of $307.93 million. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The company’s revenue for the quarter was up 93.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.51 earnings per share. Research analysts anticipate that Atlas Energy Solutions Inc. will post 0.83 EPS for the current year.

Insider Activity

In related news, major shareholder Brian Anthony Leveille sold 5,000 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $23.17, for a total transaction of $115,850.00. Following the sale, the insider now owns 409,510 shares of the company’s stock, valued at approximately $9,488,346.70. The trade was a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Gregory M. Shepard acquired 13,363 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were bought at an average cost of $19.19 per share, for a total transaction of $256,435.97. Following the acquisition, the insider now owns 7,619,055 shares of the company’s stock, valued at $146,209,665.45. This represents a 0.18 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 144,642 shares of company stock valued at $3,299,671 over the last quarter. Corporate insiders own 24.34% of the company’s stock.

Hedge Funds Weigh In On Atlas Energy Solutions

A number of institutional investors have recently modified their holdings of AESI. Quest Partners LLC purchased a new stake in Atlas Energy Solutions during the third quarter worth approximately $48,000. FMR LLC boosted its stake in Atlas Energy Solutions by 101.0% during the 3rd quarter. FMR LLC now owns 2,696 shares of the company’s stock valued at $59,000 after acquiring an additional 1,355 shares during the last quarter. CWM LLC raised its holdings in shares of Atlas Energy Solutions by 47.1% during the third quarter. CWM LLC now owns 2,766 shares of the company’s stock worth $60,000 after purchasing an additional 886 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Atlas Energy Solutions by 55.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,745 shares of the company’s stock worth $125,000 after purchasing an additional 2,043 shares during the period. Finally, Diversified Trust Co acquired a new stake in shares of Atlas Energy Solutions during the third quarter worth $201,000. Institutional investors and hedge funds own 34.59% of the company’s stock.

Atlas Energy Solutions Company Profile

Atlas Energy Solutions Inc engages in the production, processing, and sale of mesh and sand that are used as a proppant during the well completion process in the Permian Basin of Texas and New Mexico. The company provides transportation and logistics, storage solutions, and contract labor services. It sells its products and services to oil and natural gas exploration and production companies, and oilfield services companies.