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

Atlas Energy Solutions (NYSE:AESI) was downgraded by equities researchers at Barclays from an “overweight” rating to an “equal weight” rating in a research report issued on Tuesday, Marketbeat Ratings reports. They presently have a $19.00 price objective on the stock, down from their previous price objective of $23.00. Barclays‘s price objective suggests a potential downside of 10.06% from the company’s current price.

Several other analysts have also recently commented on AESI. Piper Sandler dropped their price target on Atlas Energy Solutions from $29.00 to $27.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Bank of America dropped their target price on Atlas Energy Solutions from $25.00 to $24.00 and set a “buy” rating for the company in a report on Monday, July 15th. Pickering Energy Partners cut Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 30th. Stephens restated an “overweight” rating and issued a $28.00 target price on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Finally, The Goldman Sachs Group cut Atlas Energy Solutions from a “buy” rating to a “neutral” rating and dropped their target price for the company from $23.00 to $21.00 in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.75.

Atlas Energy Solutions Stock Down 1.7 %

Shares of AESI opened at $21.13 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.23. Atlas Energy Solutions has a one year low of $15.55 and a one year high of $24.93. The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of 26.74, a PEG ratio of 11.89 and a beta of 0.69. The stock has a 50 day moving average price of $20.95 and a 200 day moving average price of $21.10.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.25). Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The firm had revenue of $304.40 million for the quarter, compared to analysts’ expectations of $307.93 million. During the same quarter in the previous year, the firm posted $0.51 earnings per share. The firm’s revenue for the quarter was up 93.1% compared to the same quarter last year. Equities research analysts forecast that Atlas Energy Solutions will post 0.8 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Stacy Hock sold 8,571 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $20.22, for a total transaction of $173,305.62. Following the transaction, the insider now owns 951,888 shares of the company’s stock, valued at approximately $19,247,175.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Atlas Energy Solutions news, major shareholder Brian Anthony Leveille sold 10,000 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $20.50, for a total value of $205,000.00. Following the sale, the insider now owns 542,010 shares of the company’s stock, valued at $11,111,205. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Stacy Hock sold 8,571 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $20.22, for a total value of $173,305.62. Following the completion of the sale, the insider now directly owns 951,888 shares in the company, valued at $19,247,175.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 60,869 shares of company stock valued at $1,187,983 and have sold 65,713 shares valued at $1,367,117. Corporate insiders own 24.34% of the company’s stock.

Institutional Investors Weigh In On Atlas Energy Solutions

A number of hedge funds have recently bought and sold shares of AESI. First Horizon Advisors Inc. raised its position in Atlas Energy Solutions by 313.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,725 shares of the company’s stock valued at $34,000 after purchasing an additional 1,308 shares in the last quarter. Amalgamated Bank raised its position in Atlas Energy Solutions by 328.1% in the 2nd quarter. Amalgamated Bank now owns 2,350 shares of the company’s stock valued at $47,000 after purchasing an additional 1,801 shares in the last quarter. Quest Partners LLC acquired a new stake in Atlas Energy Solutions in the 3rd quarter valued at about $48,000. FMR LLC raised its position in Atlas Energy Solutions by 101.0% in the 3rd quarter. FMR LLC now owns 2,696 shares of the company’s stock valued at $59,000 after purchasing an additional 1,355 shares in the last quarter. Finally, CWM LLC raised its position in Atlas Energy Solutions by 47.1% in the 3rd quarter. CWM LLC now owns 2,766 shares of the company’s stock valued at $60,000 after purchasing an additional 886 shares in the last quarter. Institutional investors and hedge funds own 34.59% of the company’s stock.

Atlas Energy Solutions Company Profile

Atlas Energy Solutions Inc engages in the production, processing, and sale of mesh and sand that are used as a proppant during the well completion process in the Permian Basin of Texas and New Mexico. The company provides transportation and logistics, storage solutions, and contract labor services. It sells its products and services to oil and natural gas exploration and production companies, and oilfield services companies.