Tectonic Advisors LLC Cuts Stock Position in Atlas Energy Solutions Inc. (NYSE:AESI)

Tectonic Advisors LLC reduced its position in Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 48.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,707 shares of the company's stock after selling 29,018 shares during the period. Tectonic Advisors LLC's holdings in Atlas Energy Solutions were worth $681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in AESI. Dimensional Fund Advisors LP purchased a new position in Atlas Energy Solutions during the second quarter worth approximately $280,000. The Manufacturers Life Insurance Company raised its stake in shares of Atlas Energy Solutions by 168.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,677 shares of the company's stock worth $811,000 after buying an additional 25,540 shares during the period. Cetera Investment Advisers lifted its position in shares of Atlas Energy Solutions by 1.0% during the 2nd quarter. Cetera Investment Advisers now owns 88,654 shares of the company's stock valued at $1,767,000 after buying an additional 897 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Atlas Energy Solutions in the 2nd quarter valued at $951,000. Finally, SG Americas Securities LLC purchased a new stake in Atlas Energy Solutions in the 3rd quarter worth $249,000. 34.59% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, major shareholder Stacy Hock sold 8,571 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $22.55, for a total transaction of $193,276.05. Following the completion of the transaction, the insider now directly owns 917,604 shares in the company, valued at approximately $20,691,970.20. This represents a 0.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Brian Anthony Leveille sold 10,000 shares of the business's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $20.70, for a total transaction of $207,000.00. Following the completion of the sale, the insider now owns 482,010 shares in the company, valued at approximately $9,977,607. This trade represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 134,642 shares of company stock valued at $3,096,871 over the last ninety days. Company insiders own 24.34% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on AESI shares. Citigroup downgraded shares of Atlas Energy Solutions from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $23.00 to $22.00 in a report on Thursday, November 14th. Raymond James lowered shares of Atlas Energy Solutions from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 6th. The Goldman Sachs Group assumed coverage on Atlas Energy Solutions in a report on Friday, December 13th. They issued a "neutral" rating and a $23.00 price objective on the stock. Bank of America reissued a "neutral" rating and set a $22.50 target price on shares of Atlas Energy Solutions in a report on Monday, January 13th. Finally, Barclays lifted their price target on Atlas Energy Solutions from $19.00 to $23.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 30th. Six research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Atlas Energy Solutions presently has an average rating of "Moderate Buy" and a consensus price target of $25.50.

Atlas Energy Solutions Trading Down 3.1 %

Shares of AESI stock traded down $0.68 on Friday, hitting $21.03. 2,126,043 shares of the stock traded hands, compared to its average volume of 1,840,420. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.23. Atlas Energy Solutions Inc. has a twelve month low of $17.08 and a twelve month high of $26.86. The firm's 50-day moving average price is $22.86 and its two-hundred day moving average price is $21.56. The stock has a market capitalization of $2.32 billion, a PE ratio of 26.63, a PEG ratio of 6.39 and a beta of 1.03.

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.