Atlas Energy Solutions (NYSE:AESI) Downgraded by Zacks Research to “Strong Sell”

Zacks Research lowered shares of Atlas Energy Solutions (NYSE:AESI) from a hold rating to a strong sell rating in a research note issued to investors on Tuesday,Zacks reports.

A number of other research firms have also weighed in on AESI. Citigroup reduced their price objective on Atlas Energy Solutions from $21.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, September 3rd. Barclays dropped their target price on Atlas Energy Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Thursday, October 15th. Scotiabank assumed coverage on Atlas Energy Solutions in a research note on Tuesday, September 29th. They issued a “sector outperform” rating and a $14.00 target price on the stock. Royal Bank Of Canada lowered their price target on Atlas Energy Solutions from $21.00 to $17.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 5th. Finally, Stifel Nicolaus lowered their price target on Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Five equities research 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $17.56.

Atlas Energy Solutions Price Performance

AESI opened at $9.39 on Tuesday. The company has a current ratio of 1.82, a quick ratio of 1.58 and a debt-to-equity ratio of 0.87. The company has a market cap of $1.17 billion, a price-to-earnings ratio of -9.88 and a beta of 1.19. The stock has a fifty day simple moving average of $12.37 and a two-hundred day simple moving average of $14.22. Atlas Energy Solutions has a 12-month low of $7.64 and a 12-month high of $20.13.

Atlas Energy Solutions (NYSE:AESI) last announced its earnings results on Monday, August 3rd. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.05). Atlas Energy Solutions had a negative net margin of 11.08% and a negative return on equity of 9.57%. The business had revenue of $293.18 million for the quarter, compared to the consensus estimate of $282.24 million. During the same quarter last year, the firm posted ($0.04) EPS. The business’s quarterly revenue was up 1.6% on a year-over-year basis. Research analysts predict that Atlas Energy Solutions will post -0.95 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Atlas Energy Solutions

Several institutional investors and hedge funds have recently made changes to their positions in AESI. Encompass Capital Advisors LLC purchased a new position in Atlas Energy Solutions in the 1st quarter worth approximately $119,854,000. Wasatch Advisors LP bought a new position in Atlas Energy Solutions in the 2nd quarter valued at approximately $30,468,000. Dimensional Fund Advisors LP boosted its stake in Atlas Energy Solutions by 12.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,502,480 shares of the company’s stock valued at $19,713,000 after purchasing an additional 167,758 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Atlas Energy Solutions during the 2nd quarter valued at $7,765,000. Finally, Bank of America Corp DE boosted its stake in Atlas Energy Solutions by 81.2% during the 1st quarter. Bank of America Corp DE now owns 526,613 shares of the company’s stock valued at $6,909,000 after purchasing an additional 236,010 shares during the last quarter. Institutional investors own 34.59% of the company’s stock.

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.