Atlas Energy Solutions (NYSE:AESI) PT Raised to $27.00 at Raymond James

Atlas Energy Solutions (NYSE:AESI) had its target price hoisted by research analysts at Raymond James from $26.00 to $27.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “strong-buy” rating on the stock. Raymond James’ price target suggests a potential upside of 21.84% from the stock’s current price.

A number of other analysts have also recently commented on the company. Royal Bank of Canada boosted their price target on Atlas Energy Solutions from $23.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 28th. Barclays boosted their price target on Atlas Energy Solutions from $23.00 to $26.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Finally, The Goldman Sachs Group started coverage on Atlas Energy Solutions in a research report on Thursday, March 14th. They issued a “buy” rating and a $24.00 price target on the stock. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Atlas Energy Solutions presently has a consensus rating of “Buy” and an average target price of $25.17.

Atlas Energy Solutions Stock Up 0.4 %

Shares of AESI stock traded up $0.08 during midday trading on Tuesday, reaching $22.16. 150,055 shares of the stock were exchanged, compared to its average volume of 787,478. Atlas Energy Solutions has a 1 year low of $15.28 and a 1 year high of $24.69. The company’s 50 day moving average is $20.61 and its two-hundred day moving average is $18.89. The company has a current ratio of 3.44, a quick ratio of 3.21 and a debt-to-equity ratio of 0.20. The firm has a market cap of $2.22 billion and a PE ratio of 14.11.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.24). Atlas Energy Solutions had a return on equity of 47.40% and a net margin of 17.17%. The company had revenue of $141.14 million during the quarter, compared to the consensus estimate of $147.34 million. On average, equities research analysts predict that Atlas Energy Solutions will post 2.92 EPS for the current year.

Insider Activity at Atlas Energy Solutions

In related news, major shareholder Stacy Hock sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $19.97, for a total value of $998,500.00. Following the transaction, the insider now directly owns 970,738 shares of the company’s stock, valued at approximately $19,385,637.86. 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, CFO John Gregory Turner sold 3,728 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $22.58, for a total transaction of $84,178.24. Following the completion of the sale, the chief financial officer now directly owns 1,582,303 shares in the company, valued at approximately $35,728,401.74. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Stacy Hock sold 50,000 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $19.97, for a total value of $998,500.00. Following the completion of the sale, the insider now owns 970,738 shares of the company’s stock, valued at $19,385,637.86. The disclosure for this sale can be found here. In the last three months, insiders have sold 246,860 shares of company stock valued at $5,332,121. 24.34% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Atlas Energy Solutions

Hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada increased its stake in shares of Atlas Energy Solutions by 526.7% in the 2nd quarter. Royal Bank of Canada now owns 2,206 shares of the company’s stock worth $37,000 after purchasing an additional 1,854 shares in the last quarter. Tucker Asset Management LLC purchased a new stake in Atlas Energy Solutions in the 3rd quarter worth $49,000. Russell Investments Group Ltd. purchased a new stake in Atlas Energy Solutions in the 2nd quarter worth $53,000. Tower Research Capital LLC TRC purchased a new stake in Atlas Energy Solutions in the 1st quarter worth $68,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Atlas Energy Solutions in the 2nd quarter worth $69,000. 34.59% of the stock is currently owned by hedge funds and other institutional investors.

About Atlas Energy Solutions

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.