Atlas Energy Solutions (NYSE:AESI) Shares Gap Down – Here’s What Happened

Atlas Energy Solutions Inc. (NYSE:AESI) shares gapped down prior to trading on Tuesday . The stock had previously closed at $10.93, but opened at $9.92. Atlas Energy Solutions shares last traded at $10.5670, with a volume of 1,333,122 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AESI. Stifel Nicolaus set a $28.00 target price on Atlas Energy Solutions in a research note on Friday, May 1st. The Goldman Sachs Group raised their price target on Atlas Energy Solutions from $9.00 to $14.00 and gave the company a “sell” rating in a report on Wednesday, June 3rd. Piper Sandler lifted their price objective on shares of Atlas Energy Solutions from $13.00 to $19.00 and gave the stock a “neutral” rating in a research report on Monday, May 18th. Raymond James Financial raised shares of Atlas Energy Solutions from a “market perform” rating to an “outperform” rating and set a $25.00 price objective on the stock in a research report on Tuesday, June 2nd. Finally, Citigroup reduced their target price on shares of Atlas Energy Solutions from $22.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, July 15th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $19.62.

Atlas Energy Solutions Stock Performance

The stock’s 50-day simple moving average is $15.20 and its 200-day simple moving average is $14.08. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of -13.39 and a beta of 1.13. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.51.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Encompass Capital Advisors LLC acquired a new position in shares of Atlas Energy Solutions during the 1st quarter worth $119,854,000. Millennium Management LLC boosted its stake in Atlas Energy Solutions by 3,783.3% in the fourth quarter. Millennium Management LLC now owns 1,883,042 shares of the company’s stock valued at $17,738,000 after buying an additional 1,834,551 shares in the last quarter. Wasatch Advisors LP bought a new position in Atlas Energy Solutions in the second quarter valued at about $30,468,000. UBS Group AG raised its stake in Atlas Energy Solutions by 139.6% during the fourth quarter. UBS Group AG now owns 2,170,655 shares of the company’s stock worth $20,448,000 after acquiring an additional 1,264,530 shares in the last quarter. Finally, Nixon Capital LLC acquired a new position in Atlas Energy Solutions during the fourth quarter worth about $11,284,000. 34.59% of the stock is owned by institutional investors.

Atlas Energy Solutions Company Profile

Atlas Energy Solutions (NYSE: AESI) is an independent energy infrastructure company specializing in the development and operation of low-carbon and renewable natural gas (RNG) projects alongside complementary clean energy offerings. Through its diversified platform, the company seeks to deliver decarbonization solutions across heavy-duty transportation and industrial markets, leveraging technologies that reduce greenhouse gas emissions while providing reliable fuel and energy services.

The company’s core business activities encompass four primary segments.