Atlas Energy Solutions (NYSE:AESI) Trading 6.6% Higher – Here’s What Happened

Atlas Energy Solutions Inc. (NYSE:AESI)’s stock price traded up 6.6% on Thursday . The company traded as high as $9.14 and last traded at $9.0950. 1,437,382 shares were traded during trading, a decline of 26% from the average session volume of 1,948,592 shares. The stock had previously closed at $8.53.

Wall Street Analyst Weigh In

AESI has been the subject of several research reports. Barclays dropped their target price on shares of Atlas Energy Solutions from $12.00 to $11.00 and set an “equal weight” rating for the company in a report on Monday, October 13th. Piper Sandler lowered their price target on Atlas Energy Solutions from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, October 16th. Weiss Ratings upgraded Atlas Energy Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, November 7th. Stifel Nicolaus decreased their target price on Atlas Energy Solutions from $14.50 to $14.00 and set a “buy” rating on the stock in a research note on Monday, August 11th. Finally, Citigroup dropped their target price on Atlas Energy Solutions from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Wednesday, October 1st. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $17.39.

Atlas Energy Solutions Stock Performance

The stock has a 50-day moving average price of $11.04 and a 200 day moving average price of $12.35. The company has a quick ratio of 1.09, a current ratio of 1.35 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -101.50 and a beta of 1.18.

Institutional Investors Weigh In On Atlas Energy Solutions

Several institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC acquired a new stake in Atlas Energy Solutions in the second quarter valued at $25,000. CWM LLC raised its holdings in Atlas Energy Solutions by 244.4% during the second quarter. CWM LLC now owns 2,235 shares of the company’s stock worth $30,000 after purchasing an additional 1,586 shares in the last quarter. Centerpoint Advisors LLC lifted its position in shares of Atlas Energy Solutions by 270.6% during the 3rd quarter. Centerpoint Advisors LLC now owns 2,850 shares of the company’s stock worth $32,000 after buying an additional 2,081 shares during the last quarter. Larson Financial Group LLC boosted its holdings in shares of Atlas Energy Solutions by 201.8% in the 1st quarter. Larson Financial Group LLC now owns 1,968 shares of the company’s stock valued at $35,000 after buying an additional 1,316 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Atlas Energy Solutions in the 2nd quarter valued at $36,000. 34.59% of the stock is owned by hedge funds and other institutional investors.

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.