Atlas Energy Solutions (NYSE:AESI) Sets New 1-Year Low – Should You Sell?

Atlas Energy Solutions Inc. (NYSE:AESI) shares reached a new 52-week low on Friday . The stock traded as low as $8.16 and last traded at $8.3820, with a volume of 232226 shares traded. The stock had previously closed at $8.57.

Analysts Set New Price Targets

A number of research firms have issued reports on AESI. Weiss Ratings reissued a “hold (c-)” rating on shares of Atlas Energy Solutions in a research note on Wednesday. Stifel Nicolaus cut their price objective on Atlas Energy Solutions from $14.50 to $14.00 and set a “buy” rating on the stock in a report on Monday, August 11th. Piper Sandler lowered their target price on Atlas Energy Solutions from $12.00 to $10.00 and set a “neutral” rating for the company in a research note on Monday, November 17th. Citigroup cut their price target on shares of Atlas Energy Solutions from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 1st. Finally, The Goldman Sachs Group cut shares of Atlas Energy Solutions from a “neutral” rating to a “sell” rating and reduced their price target for the company from $12.00 to $8.00 in a report on Thursday. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $15.94.

Atlas Energy Solutions Price Performance

The company has a current ratio of 1.35, a quick ratio of 1.09 and a debt-to-equity ratio of 0.43. The company has a 50 day simple moving average of $10.75 and a 200 day simple moving average of $12.09. The stock has a market cap of $1.01 billion, a P/E ratio of -90.56 and a beta of 1.18.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. increased its position in shares of Atlas Energy Solutions by 144.8% in the first quarter. American Century Companies Inc. now owns 677,849 shares of the company’s stock valued at $12,093,000 after acquiring an additional 400,984 shares during the last quarter. Vanguard Group Inc. grew its stake in Atlas Energy Solutions by 16.5% in the first quarter. Vanguard Group Inc. now owns 8,054,677 shares of the company’s stock valued at $143,695,000 after purchasing an additional 1,139,352 shares in the last quarter. Burkehill Global Management LP acquired a new position in shares of Atlas Energy Solutions during the 1st quarter worth approximately $8,474,000. Northern Trust Corp increased its position in shares of Atlas Energy Solutions by 7.6% during the 1st quarter. Northern Trust Corp now owns 966,528 shares of the company’s stock worth $17,243,000 after purchasing an additional 68,275 shares during the last quarter. Finally, Ashford Capital Management Inc. raised its stake in shares of Atlas Energy Solutions by 46.0% during the 1st quarter. Ashford Capital Management Inc. now owns 1,164,775 shares of the company’s stock worth $20,780,000 after purchasing an additional 367,100 shares in the last quarter. Institutional investors own 34.59% of the company’s stock.

About Atlas Energy Solutions

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.