Atlas Energy Solutions’ (AESI) “Underweight” Rating Reiterated at Barclays

Barclays restated their underweight rating on shares of Atlas Energy Solutions (NYSE:AESI) in a research note issued to investors on Friday morning, Marketbeat.com reports. The brokerage currently has a $7.00 target price on the stock, down from their prior target price of $11.00.

Other equities research analysts have also recently issued research reports about the stock. Weiss Ratings upgraded shares of Atlas Energy Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, November 7th. Citigroup cut their target price on Atlas Energy Solutions from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 1st. Piper Sandler reduced their target price on Atlas Energy Solutions from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, October 16th. Finally, Stifel Nicolaus decreased their price target on Atlas Energy Solutions from $14.50 to $14.00 and set a “buy” rating for the company in a research note on Monday, August 11th. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $16.94.

Atlas Energy Solutions Stock Performance

Shares of Atlas Energy Solutions stock opened at $8.91 on Friday. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of -98.94 and a beta of 1.17. The firm’s 50-day moving average is $10.95 and its 200 day moving average is $12.26. Atlas Energy Solutions has a 1 year low of $8.18 and a 1 year high of $26.86. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.35 and a quick ratio of 1.09.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its position in shares of Atlas Energy Solutions by 2.8% during the 1st quarter. Bank of New York Mellon Corp now owns 859,112 shares of the company’s stock valued at $15,327,000 after acquiring an additional 23,429 shares during the period. Envestnet Asset Management Inc. lifted its position in Atlas Energy Solutions by 9.6% during the first quarter. Envestnet Asset Management Inc. now owns 381,094 shares of the company’s stock valued at $6,799,000 after purchasing an additional 33,404 shares in the last quarter. Arizona State Retirement System grew its holdings in Atlas Energy Solutions by 25.1% during the first quarter. Arizona State Retirement System now owns 13,965 shares of the company’s stock valued at $249,000 after purchasing an additional 2,804 shares during the period. Mutual of America Capital Management LLC grew its holdings in Atlas Energy Solutions by 13.9% during the first quarter. Mutual of America Capital Management LLC now owns 10,460 shares of the company’s stock valued at $187,000 after purchasing an additional 1,277 shares during the period. Finally, Louisiana State Employees Retirement System increased its position in Atlas Energy Solutions by 15.4% in the first quarter. Louisiana State Employees Retirement System now owns 33,800 shares of the company’s stock worth $603,000 after buying an additional 4,500 shares in the last quarter. 34.59% of the stock is currently owned by institutional investors.

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.