Atlas Energy Solutions Inc. (NYSE:AESI) Receives $17.12 Average PT from Brokerages

Atlas Energy Solutions Inc. (NYSE:AESI) has been assigned an average rating of “Hold” from the ten ratings firms that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $17.1250.

Several brokerages have recently weighed in on AESI. Piper Sandler decreased their price target on Atlas Energy Solutions from $19.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, August 27th. Raymond James Financial upgraded Atlas Energy Solutions from a “market perform” rating to an “outperform” rating and set a $25.00 target price on the stock in a report on Tuesday, June 2nd. Weiss Ratings downgraded shares of Atlas Energy Solutions from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, August 7th. Stifel Nicolaus lowered their price target on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Finally, Royal Bank Of Canada dropped their price target on shares of Atlas Energy Solutions from $21.00 to $17.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 5th.

Atlas Energy Solutions Stock Performance

Shares of Atlas Energy Solutions stock opened at $13.56 on Thursday. The company has a quick ratio of 1.58, a current ratio of 1.82 and a debt-to-equity ratio of 0.87. Atlas Energy Solutions has a twelve month low of $7.64 and a twelve month high of $20.13. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of -14.28 and a beta of 1.17. The company’s fifty day moving average is $12.76 and its 200 day moving average is $14.36.

Atlas Energy Solutions (NYSE:AESI) last posted its quarterly earnings data on Monday, August 3rd. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.05). The company had revenue of $293.18 million during the quarter, compared to analyst estimates of $282.24 million. Atlas Energy Solutions had a negative net margin of 11.08% and a negative return on equity of 9.57%. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.04) earnings per share. Sell-side analysts forecast that Atlas Energy Solutions will post -0.94 EPS for the current year.

Hedge Funds Weigh In On Atlas Energy Solutions

Hedge funds have recently bought and sold shares of the company. Cetera Investment Advisers grew its position in Atlas Energy Solutions by 6.9% in the 1st quarter. Cetera Investment Advisers now owns 21,094 shares of the company’s stock worth $277,000 after purchasing an additional 1,357 shares in the last quarter. Citizens Financial Group Inc. RI lifted its position in shares of Atlas Energy Solutions by 6.0% during the 1st quarter. Citizens Financial Group Inc. RI now owns 23,966 shares of the company’s stock worth $314,000 after buying an additional 1,364 shares in the last quarter. Islay Capital Management LLC bought a new position in shares of Atlas Energy Solutions during the 4th quarter worth approximately $28,000. State of Wyoming purchased a new position in shares of Atlas Energy Solutions in the 1st quarter worth approximately $48,000. Finally, Tactive Advisors LLC boosted its stake in shares of Atlas Energy Solutions by 12.1% in the 2nd quarter. Tactive Advisors LLC now owns 68,291 shares of the company’s stock worth $1,134,000 after buying an additional 7,359 shares during the last quarter. Institutional investors own 34.59% of the company’s stock.

About Atlas Energy Solutions

Atlas Energy Solutions Inc (NYSE:AESI) provides proppant and logistics services to oil and natural gas producers, primarily operating in the Permian Basin of West Texas and New Mexico. The company supplies frac sand used in hydraulic fracturing to help keep underground rock fractures open and support the recovery of hydrocarbons.

The company operates sand mines, processing facilities and related infrastructure in the Permian Basin. Its product offerings include various grades and sizes of frac sand, including commonly used 40/70 and 100-mesh products.