Atlas Energy Solutions (NYSE:AESI) Shares Climb 8.2% – Still a Buy?

Atlas Energy Solutions Inc. (NYSE:AESI)’s share price shot up 8.2% during mid-day trading on Monday. The company traded as high as $13.08 and last traded at $13.0250. 1,331,414 shares traded hands during trading, a decline of 63% from the average daily volume of 3,570,825 shares. The stock had previously closed at $12.04.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AESI. The Goldman Sachs Group set a $12.00 target price on shares of Atlas Energy Solutions in a report on Friday, August 7th. Weiss Ratings lowered Atlas Energy Solutions from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, August 7th. Stifel Nicolaus dropped their price objective on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Royal Bank Of Canada cut their price objective on shares of Atlas Energy Solutions from $21.00 to $17.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 5th. Finally, Piper Sandler reduced their target price on shares of Atlas Energy Solutions from $19.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, August 27th. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $17.67.

Atlas Energy Solutions Stock Down 0.3%

The firm has a market cap of $1.59 billion, a PE ratio of -13.35 and a beta of 1.19. The company has a 50-day simple moving average of $12.39 and a 200-day simple moving average of $14.39. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.82 and a quick ratio of 1.58.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly earnings results on Monday, August 3rd. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.05). Atlas Energy Solutions had a negative return on equity of 9.57% and a negative net margin of 11.08%.The business had revenue of $293.18 million during the quarter, compared to analysts’ expectations of $282.24 million. During the same quarter in the previous year, the company posted ($0.04) earnings per share. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. Analysts expect that Atlas Energy Solutions Inc. will post -0.94 earnings per share for the current fiscal year.

Institutional Trading of Atlas Energy Solutions

Institutional investors and hedge funds have recently made changes to their positions in the business. Central Pacific Bank Trust Division grew its holdings in shares of Atlas Energy Solutions by 19.9% in the third quarter. Central Pacific Bank Trust Division now owns 30,472 shares of the company’s stock worth $366,000 after purchasing an additional 5,067 shares during the last quarter. Tidal Investments LLC lifted its holdings in Atlas Energy Solutions by 56.3% during the 2nd quarter. Tidal Investments LLC now owns 152,010 shares of the company’s stock valued at $2,525,000 after buying an additional 54,731 shares in the last quarter. AXQ Capital LP lifted its holdings in Atlas Energy Solutions by 349.6% during the 2nd quarter. AXQ Capital LP now owns 53,340 shares of the company’s stock valued at $886,000 after buying an additional 41,475 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Atlas Energy Solutions in the 2nd quarter valued at about $278,000. Finally, Citizens Financial Group Inc. RI purchased a new stake in Atlas Energy Solutions in the 2nd quarter valued at about $379,000. 34.59% of the stock is currently owned by institutional investors.

About Atlas Energy Solutions

Atlas Energy Solutions Inc (NYSE: AESI) is a provider of proppant and logistics services for the oil and natural gas industry. The company primarily serves exploration and production companies operating in the Permian Basin, one of the largest onshore oil-producing regions in the United States.

Atlas produces and supplies frac sand, a specialized proppant used in hydraulic fracturing to help keep fractures open and improve the flow of hydrocarbons from underground formations. Its operations include sand mining, processing, storage and distribution, with facilities located in or near the Permian Basin of West Texas.

The company also provides transportation and logistics solutions designed to move large volumes of proppant from its mines to well sites.