Atlas Energy Solutions (NYSE:AESI) Shares Gap Up – Time to Buy?

Atlas Energy Solutions Inc. (NYSE:AESI) gapped up before the market opened on Friday. The stock had previously closed at $10.99, but opened at $12.30. Atlas Energy Solutions shares last traded at $12.7880, with a volume of 1,867,548 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Stifel Nicolaus dropped their price target on Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Royal Bank Of Canada decreased their price objective on 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. Citigroup lowered their price objective on Atlas Energy Solutions from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, September 3rd. Barclays dropped their target price on Atlas Energy Solutions from $14.00 to $10.00 and set an “underweight” rating for the company in a report on Friday, August 7th. Finally, Weiss Ratings downgraded Atlas Energy Solutions from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $17.12.

Atlas Energy Solutions Stock Up 19.8%

The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.58 and a current ratio of 1.82. The company’s fifty day moving average price is $12.53 and its 200-day moving average price is $14.45. The stock has a market cap of $1.65 billion, a P/E ratio of -13.70 and a beta of 1.17.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Cetera Investment Advisers grew its position in shares of 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 buying an additional 1,357 shares during the last quarter. Citizens Financial Group Inc. RI boosted its stake in Atlas Energy Solutions by 6.0% in the first quarter. Citizens Financial Group Inc. RI now owns 23,966 shares of the company’s stock valued at $314,000 after acquiring an additional 1,364 shares in the last quarter. Islay Capital Management LLC acquired a new stake in Atlas Energy Solutions in the fourth quarter valued at approximately $28,000. State of Wyoming purchased a new position in Atlas Energy Solutions in the first quarter worth $48,000. Finally, Tactive Advisors LLC grew its holdings in Atlas Energy Solutions by 12.1% in the second quarter. Tactive Advisors LLC now owns 68,291 shares of the company’s stock worth $1,134,000 after purchasing an additional 7,359 shares during the last quarter. Institutional investors own 34.59% of the company’s stock.

Atlas Energy Solutions Company Profile

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.