Atlas Energy Solutions (NYSE:AESI) Stock Rating Lowered by Zacks Research

Atlas Energy Solutions (NYSE:AESI) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday, Zacks reports.

Several other equities research analysts have also recently weighed in on the company. The Goldman Sachs Group set a $12.00 target price on Atlas Energy Solutions in a report on Friday, August 7th. Piper Sandler cut their price target on 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. Scotiabank began coverage on Atlas Energy Solutions in a research note on Tuesday, September 29th. They set a “sector outperform” rating and a $14.00 price target on the stock. Citigroup decreased their price objective on Atlas Energy Solutions from $21.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, September 3rd. Finally, Barclays lowered their price objective on shares of Atlas Energy Solutions from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Thursday, October 15th. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $17.56.

Atlas Energy Solutions Stock Performance

Shares of NYSE:AESI opened at $9.39 on Tuesday. The firm has a market cap of $1.17 billion, a PE ratio of -9.88 and a beta of 1.19. The firm’s 50 day simple moving average is $12.37 and its 200-day simple moving average is $14.22. Atlas Energy Solutions has a one year low of $7.64 and a one year high of $20.13. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.58 and a current ratio of 1.82.

Atlas Energy Solutions (NYSE:AESI) last posted 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). The company had revenue of $293.18 million for the quarter, compared to the consensus estimate of $282.24 million. Atlas Energy Solutions had a negative net margin of 11.08% and a negative return on equity of 9.57%. The business’s revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.04) EPS. As a group, equities analysts predict that Atlas Energy Solutions will post -0.95 EPS for the current year.

Hedge Funds Weigh In On Atlas Energy Solutions

Several institutional investors have recently bought and sold shares of the business. Central Pacific Bank Trust Division lifted its stake in shares of Atlas Energy Solutions by 19.9% during the 3rd 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 boosted its position in Atlas Energy Solutions by 56.3% during the second quarter. Tidal Investments LLC now owns 152,010 shares of the company’s stock valued at $2,525,000 after purchasing an additional 54,731 shares in the last quarter. AXQ Capital LP boosted its position in Atlas Energy Solutions by 349.6% during the second quarter. AXQ Capital LP now owns 53,340 shares of the company’s stock valued at $886,000 after purchasing an additional 41,475 shares in the last quarter. Headlands Technologies LLC bought a new stake in Atlas Energy Solutions during the second quarter valued at about $278,000. Finally, Citizens Financial Group Inc. RI bought a new stake in Atlas Energy Solutions during the second quarter valued at about $379,000. 34.59% of the stock is owned by hedge funds and other institutional investors.

Atlas Energy Solutions Company Profile

Atlas Energy Solutions Inc (NYSE:AESI) is an energy-services company that supplies proppant and logistics solutions to oil and natural gas producers. Its primary products include frac sand, which is used in hydraulic fracturing to help keep underground rock fractures open and improve the flow of hydrocarbons.

The company operates sand mines, processing facilities, and related infrastructure in the Permian Basin of West Texas. In addition to producing and selling proppant, Atlas provides transportation, storage, and last-mile delivery services designed to move sand from its facilities to well sites.