Atlas Energy Solutions (NYSE:AESI) Shares Gap Down - What's Next?

Atlas Energy Solutions Inc. (NYSE:AESI - Get Free Report) shares 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 traded.

Analysts Set New Price Targets

AESI has been the topic of several recent analyst reports. Pickering Energy Partners lowered Atlas Energy Solutions from an "outperform" rating to a "neutral" rating in a report on Wednesday, October 30th. Benchmark boosted their price target 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, January 29th. Citigroup cut shares of Atlas Energy Solutions from a "buy" rating to a "neutral" rating and decreased their target price for the company from $23.00 to $22.00 in a research note on Thursday, November 14th. Raymond James downgraded Atlas Energy Solutions from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 6th. Finally, Royal Bank of Canada increased their price objective on shares of Atlas Energy Solutions from $27.00 to $28.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. Six research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $25.50.

Atlas Energy Solutions Price Performance

The company's 50-day moving average is $23.00 and its two-hundred day moving average is $21.54. The firm has a market cap of $2.47 billion, a P/E ratio of 28.35, a PEG ratio of 6.82 and a beta of 1.03. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.08.

Insider Buying and Selling at Atlas Energy Solutions

In other news, major shareholder Brian Anthony Leveille sold 10,000 shares of the firm's stock in a transaction that occurred on 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 of the company's stock, valued at $9,977,607. This trade represents a 2.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Stacy Hock sold 8,571 shares of the business's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $21.12, for a total transaction of $181,019.52. Following the transaction, the insider now owns 926,175 shares in the company, valued at $19,560,816. The trade was a 0.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 144,642 shares of company stock worth $3,299,671 over the last three months. Corporate insiders own 24.34% of the company's stock.

Hedge Funds Weigh In On Atlas Energy Solutions

Several institutional investors have recently made changes to their positions in the stock. Illinois Municipal Retirement Fund acquired a new stake in shares of Atlas Energy Solutions in the 4th quarter worth about $736,000. Amalgamated Bank boosted its position in shares of Atlas Energy Solutions by 674.9% during the 4th quarter. Amalgamated Bank now owns 18,209 shares of the company's stock valued at $404,000 after acquiring an additional 15,859 shares during the last quarter. Bank of New York Mellon Corp grew its position in Atlas Energy Solutions by 75.5% in the fourth quarter. Bank of New York Mellon Corp now owns 835,683 shares of the company's stock worth $18,535,000 after acquiring an additional 359,420 shares in the last quarter. Edge Capital Group LLC boosted its stake in Atlas Energy Solutions by 95.9% in the fourth quarter. Edge Capital Group LLC now owns 26,178 shares of the company's stock worth $581,000 after buying an additional 12,813 shares in the last quarter. Finally, Cumberland Partners Ltd grew its stake in shares of Atlas Energy Solutions by 20.3% during the fourth quarter. Cumberland Partners Ltd now owns 139,900 shares of the company's stock valued at $3,103,000 after buying an additional 23,600 shares during the last quarter. Institutional investors and hedge funds 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.