Atlas Energy Solutions (NYSE:AESI) Price Target Raised to $29.00

Atlas Energy Solutions (NYSE:AESI) had its target price upped by Stephens from $28.00 to $29.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Stephens’ target price points to a potential upside of 14.31% from the stock’s previous close.

Several other research analysts have also recently weighed in on the stock. Raymond James cut shares of Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. Pickering Energy Partners lowered Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research note on Wednesday, October 30th. Citigroup downgraded Atlas Energy Solutions from a “buy” rating to a “neutral” rating and decreased their target price for the company from $23.00 to $22.00 in a research note on Thursday, November 14th. The Goldman Sachs Group began coverage on Atlas Energy Solutions in a research note on Friday, December 13th. They issued a “neutral” rating and a $23.00 price target for the company. Finally, Royal Bank of Canada lifted their price objective on shares of Atlas Energy Solutions from $27.00 to $28.00 and gave the company an “outperform” rating in a research report on Tuesday. Six research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Atlas Energy Solutions currently has an average rating of “Moderate Buy” and a consensus price target of $24.94.

Atlas Energy Solutions Stock Up 2.8 %

NYSE:AESI traded up $0.68 on Tuesday, reaching $25.37. 815,482 shares of the stock traded hands, compared to its average volume of 968,727. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of 31.94, a PEG ratio of 6.98 and a beta of 1.03. The company has a current ratio of 1.23, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42. The company’s fifty day simple moving average is $22.82 and its 200 day simple moving average is $21.45. Atlas Energy Solutions has a 12 month low of $16.42 and a 12 month high of $26.86.

Atlas Energy Solutions (NYSE:AESI) last released its quarterly earnings results on Monday, October 28th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.25). The firm had revenue of $304.40 million for the quarter, compared to the consensus estimate of $307.93 million. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. Atlas Energy Solutions’s quarterly revenue was up 93.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.51 earnings per share. Equities analysts predict that Atlas Energy Solutions will post 0.84 EPS for the current fiscal year.

Insider Activity at Atlas Energy Solutions

In other Atlas Energy Solutions news, major shareholder Brian Anthony Leveille sold 5,000 shares of Atlas Energy Solutions stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $23.88, for a total transaction of $119,400.00. Following the completion of the transaction, the insider now directly owns 382,010 shares of the company’s stock, valued at $9,122,398.80. The trade was a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Stacy Hock sold 8,571 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $21.12, for a total transaction of $181,019.52. Following the completion of the sale, the insider now directly owns 926,175 shares in the company, valued at approximately $19,560,816. This represents a 0.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 132,142 shares of company stock valued at $2,993,921 over the last 90 days. 24.34% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Atlas Energy Solutions

Several hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank boosted its stake in shares of Atlas Energy Solutions by 328.1% during the second quarter. Amalgamated Bank now owns 2,350 shares of the company’s stock valued at $47,000 after purchasing an additional 1,801 shares during the period. Quest Partners LLC bought a new stake in Atlas Energy Solutions during the 3rd quarter valued at about $48,000. FMR LLC boosted 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 buying an additional 1,355 shares during the period. CWM LLC boosted its holdings in shares of Atlas Energy Solutions by 47.1% in the third quarter. CWM LLC now owns 2,766 shares of the company’s stock valued at $60,000 after purchasing an additional 886 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Atlas Energy Solutions by 55.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,745 shares of the company’s stock valued at $125,000 after purchasing an additional 2,043 shares during the period. 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.