Atlas Energy Solutions (NYSE:AESI) Stock Gets Price Target Cut from Stifel Nicolaus

Atlas Energy Solutions (NYSE:AESI) had its price objective decreased by Stifel Nicolaus from $25.00 to $21.00 in a research note issued to investors on Monday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Several other analysts have also issued reports on AESI. Citigroup dropped their target price on Atlas Energy Solutions from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, September 3rd. Barclays reduced their price target on Atlas Energy Solutions from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Thursday, October 15th. Stephens decreased their price target on Atlas Energy Solutions from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Monday, October 5th. The Goldman Sachs Group set a $12.00 price target on Atlas Energy Solutions in a research report on Friday, August 7th. Finally, Scotiabank boosted their price target on Atlas Energy Solutions from $17.00 to $18.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, November 4th. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $15.80.

Atlas Energy Solutions Stock Up 4.4%

Shares of AESI stock opened at $5.60 on Monday. The firm’s fifty day moving average price is $10.85 and its two-hundred day moving average price is $13.17. The company has a current ratio of 1.22, a quick ratio of 0.99 and a debt-to-equity ratio of 0.92. Atlas Energy Solutions has a 1 year low of $5.08 and a 1 year high of $20.13. The firm has a market capitalization of $699.52 million, a P/E ratio of -5.00 and a beta of 1.29.

Atlas Energy Solutions (NYSE:AESI) last posted its quarterly earnings data on Monday, November 2nd. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.12). The business had revenue of $267.78 million for the quarter, compared to analyst estimates of $265.32 million. Atlas Energy Solutions had a negative return on equity of 12.38% and a negative net margin of 12.98%. The company’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.19) earnings per share. On average, equities analysts predict that Atlas Energy Solutions will post -1.02 EPS for the current fiscal year.

Insider Activity at Atlas Energy Solutions

In other news, insider Gregory Shepard sold 500,000 shares of Atlas Energy Solutions stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $5.32, for a total value of $2,660,000.00. Following the completion of the transaction, the insider owned 6,921,210 shares of the company’s stock, valued at $36,820,837.20. This trade represents a 6.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last ninety days, insiders have sold 890,500 shares of company stock valued at $4,754,980. Company insiders own 16.40% of the company’s stock.

Institutional Investors Weigh In On Atlas Energy Solutions

Institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in Atlas Energy Solutions by 12.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,502,480 shares of the company’s stock worth $19,713,000 after purchasing an additional 167,758 shares during the period. CenterBook Partners LP increased its position in Atlas Energy Solutions by 84.8% during the third quarter. CenterBook Partners LP now owns 1,180,943 shares of the company’s stock worth $14,183,000 after buying an additional 541,774 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Atlas Energy Solutions in the second quarter valued at approximately $7,765,000. Encompass Capital Advisors LLC bought a new stake in Atlas Energy Solutions in the first quarter valued at approximately $119,854,000. Finally, Readystate Asset Management LP bought a new stake in Atlas Energy Solutions in the first quarter valued at approximately $1,459,000. 34.59% of the stock is owned by institutional investors.

Atlas Energy Solutions News Roundup

Here’s some of the latest news about AESI:

• Positive Sentiment: A Seeking Alpha article argued that emerging tailwinds support a Strong Buy view, providing a bullish counterpoint to the recent weakness. Atlas Energy Solutions: Emerging Tailwinds Make It A Strong Buy
• Negative Sentiment: Barclays cut its price target to $7 from $13 and kept an Equal Weight rating, reflecting a substantially less favorable outlook than Citigroup’s. Barclays rating information
• Negative Sentiment: The company’s latest reported quarter included an adjusted loss per share that was worse than analysts expected, although revenue slightly topped estimates and rose year over year.

Atlas Energy Solutions Company Profile

Atlas Energy Solutions Inc. is a U.S. energy-services company that supplies proppant, primarily frac sand, used in hydraulic fracturing. The company mines, processes and distributes sand for oil and natural gas operators. Atlas also provides logistics services to move proppant from its facilities to well sites, including transportation and storage. Its operations are focused on the Permian Basin in West Texas and southeastern New Mexico, a major oil and gas producing region. Founded in 2017, the company has developed an integrated supply and logistics network serving energy producers in the region.