Atlas Energy Solutions (NYSE:AESI) Research Coverage Started at Scotiabank

Scotiabank assumed coverage on shares of Atlas Energy Solutions (NYSE:AESI) in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports. The firm issued a sector outperform rating and a $14.00 price objective on the stock.

A number of other equities research analysts have also issued reports on AESI. Piper Sandler dropped their target price on shares of Atlas Energy Solutions from $19.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday, August 27th. Stifel Nicolaus decreased their price target on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Weiss Ratings lowered shares of Atlas Energy Solutions from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, August 7th. The Goldman Sachs Group set a $12.00 price objective on shares of Atlas Energy Solutions in a research note on Friday, August 7th. Finally, Raymond James Financial upgraded shares of Atlas Energy Solutions from a “market perform” rating to an “outperform” rating and set a $25.00 price objective for the company in a report on Tuesday, June 2nd. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Atlas Energy Solutions presently has an average rating of “Hold” and a consensus price target of $17.22.

Atlas Energy Solutions Stock Performance

Shares of NYSE:AESI opened at $11.69 on Tuesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.82 and a quick ratio of 1.58. Atlas Energy Solutions has a 1 year low of $7.64 and a 1 year high of $20.13. The firm has a market capitalization of $1.46 billion, a PE ratio of -12.30 and a beta of 1.19. The business’s 50 day moving average price is $12.33 and its 200-day moving average price is $14.41.

Atlas Energy Solutions (NYSE:AESI) last posted its quarterly earnings data on Monday, August 3rd. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.05). The firm 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 firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.04) earnings per share. As a group, equities research analysts expect that Atlas Energy Solutions will post -0.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Atlas Energy Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cetera Investment Advisers grew its stake in shares of Atlas Energy Solutions by 6.9% in the first quarter. Cetera Investment Advisers now owns 21,094 shares of the company’s stock worth $277,000 after acquiring an additional 1,357 shares in the last quarter. Citizens Financial Group Inc. RI raised its stake in shares of 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 shares of Atlas Energy Solutions in the fourth quarter valued at $28,000. State of Wyoming purchased a new position in Atlas Energy Solutions in the first quarter valued at $48,000. Finally, Tactive Advisors LLC boosted 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 valued at $1,134,000 after purchasing an additional 7,359 shares during the period. Hedge funds and other institutional investors own 34.59% of the company’s stock.

Atlas Energy Solutions Company Profile

Atlas Energy Solutions Inc (NYSE: AESI) is a provider of proppant and logistics services for the oil and natural gas industry. The company primarily serves exploration and production companies operating in the Permian Basin, one of the largest onshore oil-producing regions in the United States.

Atlas produces and supplies frac sand, a specialized proppant used in hydraulic fracturing to help keep fractures open and improve the flow of hydrocarbons from underground formations. Its operations include sand mining, processing, storage and distribution, with facilities located in or near the Permian Basin of West Texas.

The company also provides transportation and logistics solutions designed to move large volumes of proppant from its mines to well sites.