Meridian Wealth Advisors LLC Sells 168,407 Shares of Atlas Energy Solutions Inc. $AESI

Meridian Wealth Advisors LLC decreased its holdings in shares of Atlas Energy Solutions Inc. (NYSE:AESI) by 6.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,477,436 shares of the company’s stock after selling 168,407 shares during the period. Atlas Energy Solutions accounts for about 5.2% of Meridian Wealth Advisors LLC’s portfolio, making the stock its 4th biggest position. Meridian Wealth Advisors LLC’s holdings in Atlas Energy Solutions were worth $33,123,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted 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 buying an additional 1,139,352 shares during the period. Cooke & Bieler LP increased its stake in shares of Atlas Energy Solutions by 23.8% in the 2nd quarter. Cooke & Bieler LP now owns 3,219,440 shares of the company’s stock valued at $43,044,000 after acquiring an additional 619,347 shares in the last quarter. Encompass Capital Advisors LLC acquired a new position in shares of Atlas Energy Solutions during the 1st quarter valued at $43,614,000. Villere ST Denis J & Co. LLC lifted its position in shares of Atlas Energy Solutions by 15.0% during the 2nd quarter. Villere ST Denis J & Co. LLC now owns 2,008,725 shares of the company’s stock valued at $26,857,000 after acquiring an additional 262,098 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Atlas Energy Solutions by 5.0% during the second quarter. Geode Capital Management LLC now owns 1,765,797 shares of the company’s stock worth $23,611,000 after acquiring an additional 84,760 shares in the last quarter. Institutional investors and hedge funds own 34.59% of the company’s stock.

Atlas Energy Solutions Stock Down 4.9%

AESI stock opened at $8.15 on Friday. The firm has a market capitalization of $1.01 billion, a PE ratio of -90.56 and a beta of 1.18. The company has a quick ratio of 1.09, a current ratio of 1.35 and a debt-to-equity ratio of 0.43. Atlas Energy Solutions Inc. has a twelve month low of $7.96 and a twelve month high of $26.86. The stock’s 50 day moving average is $10.75 and its 200-day moving average is $12.09.

Wall Street Analyst Weigh In

AESI has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Atlas Energy Solutions in a research note on Wednesday. Citigroup dropped their price target on 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. The Goldman Sachs Group lowered Atlas Energy Solutions from a “neutral” rating to a “sell” rating and cut their price target for the stock from $12.00 to $8.00 in a report on Thursday. Stifel Nicolaus reduced their price objective on Atlas Energy Solutions from $14.50 to $14.00 and set a “buy” rating for the company in a research note on Monday, August 11th. Finally, Barclays restated an “underweight” rating and set a $7.00 price objective (down previously from $11.00) on shares of Atlas Energy Solutions in a report on Friday, November 14th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Atlas Energy Solutions presently has a consensus rating of “Hold” and an average price target of $15.94.

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.