Atlas Energy Solutions (NYSE:AESI) Price Target Lowered to $26.00 at Raymond James

Atlas Energy Solutions (NYSE:AESI) had its target price decreased by equities researchers at Raymond James from $27.00 to $26.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “strong-buy” rating on the stock. Raymond James’ target price points to a potential upside of 38.45% from the company’s previous close.

A number of other brokerages have also commented on AESI. Citigroup increased their price target on shares of Atlas Energy Solutions from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, August 16th. The Goldman Sachs Group lifted their price target on Atlas Energy Solutions from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $25.00 price objective on shares of Atlas Energy Solutions in a research report on Wednesday, August 2nd. Finally, Stephens restated an “overweight” rating and issued a $23.00 target price on shares of Atlas Energy Solutions in a research report on Tuesday, August 1st. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Atlas Energy Solutions currently has an average rating of “Buy” and an average target price of $24.90.

Atlas Energy Solutions Price Performance

NYSE:AESI opened at $18.78 on Wednesday. Atlas Energy Solutions has a 52-week low of $15.06 and a 52-week high of $24.69. The stock has a fifty day moving average of $21.50 and a 200 day moving average of $19.42. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.10 and a current ratio of 3.22. The firm has a market capitalization of $1.88 billion and a price-to-earnings ratio of 5.81.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly earnings data on Monday, July 31st. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.64 by $0.05. The business had revenue of $161.79 million for the quarter, compared to analysts’ expectations of $144.51 million. On average, research analysts expect that Atlas Energy Solutions will post 2.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other Atlas Energy Solutions news, major shareholder Richard W. Schmidt sold 16,708 shares of the firm’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $20.42, for a total value of $341,177.36. Following the completion of the sale, the insider now directly owns 1,703,579 shares in the company, valued at $34,787,083.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, major shareholder Richard W. Schmidt sold 29,234 shares of the business’s stock in a transaction on Friday, October 13th. The shares were sold at an average price of $20.20, for a total transaction of $590,526.80. Following the sale, the insider now owns 1,720,287 shares in the company, valued at approximately $34,749,797.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Richard W. Schmidt sold 16,708 shares of the stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $20.42, for a total transaction of $341,177.36. Following the completion of the transaction, the insider now owns 1,703,579 shares of the company’s stock, valued at $34,787,083.18. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,582 shares of company stock worth $1,110,984. 82.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Atlas Energy Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. bought a new stake in shares of Atlas Energy Solutions in the 1st quarter worth approximately $21,980,000. Jump Financial LLC purchased a new stake in shares of Atlas Energy Solutions in the first quarter worth $444,000. Barclays PLC purchased a new stake in shares of Atlas Energy Solutions in the first quarter worth $208,000. Monashee Investment Management LLC bought a new position in shares of Atlas Energy Solutions during the first quarter valued at $3,406,000. Finally, Federated Hermes Inc. purchased a new position in shares of Atlas Energy Solutions in the 1st quarter worth about $1,277,000. Hedge funds and other institutional investors own 17.86% of the company’s stock.

About Atlas Energy Solutions

Atlas Energy Solutions Inc provides proppant and logistics services to the oil and natural gas industry within the Permian Basin of West Texas and New Mexico. The company was founded in 2017 and is based in Austin, Texas.