Atlas Energy Solutions (NYSE:AESI) Issues Quarterly Earnings Results

Atlas Energy Solutions (NYSE:AESI) released its earnings results on Monday. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.12), FiscalAI reports. Atlas Energy Solutions had a negative return on equity of 12.15% and a negative net margin of 12.98%. The business had revenue of $267.78 million for the quarter, compared to analysts’ expectations of $265.32 million. During the same period in the previous year, the company earned ($0.19) EPS. Atlas Energy Solutions’s quarterly revenue was up 3.1% compared to the same quarter last year.

Atlas Energy Solutions Trading Down 13.5%

AESI opened at $7.04 on Wednesday. Atlas Energy Solutions has a one year low of $7.53 and a one year high of $20.13. The business’s 50 day moving average price is $11.68 and its 200 day moving average price is $13.34. The stock has a market capitalization of $880.38 million, a PE ratio of -6.47 and a beta of 1.29. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.58 and a current ratio of 1.82.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Barclays lowered their price target on shares of Atlas Energy Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 15th. Piper Sandler cut their price objective 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. Stephens cut their price objective on shares of Atlas Energy Solutions from $22.00 to $20.00 and set an “overweight” rating for the company in a report on Monday, October 5th. Citigroup decreased their target price on shares of Atlas Energy Solutions from $21.00 to $17.00 and set a “buy” rating on the stock in a research note on Thursday, September 3rd. Finally, Scotiabank started coverage on Atlas Energy Solutions in a report on Tuesday, September 29th. They set a “sector outperform” rating and a $14.00 target price on the stock. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $17.10.

About Atlas Energy Solutions

Atlas Energy Solutions Inc (NYSE:AESI) is an energy-services company that supplies proppant and logistics solutions to oil and natural gas producers. Its primary products include frac sand, which is used in hydraulic fracturing to help keep underground rock fractures open and improve the flow of hydrocarbons.

The company operates sand mines, processing facilities, and related infrastructure in the Permian Basin of West Texas. In addition to producing and selling proppant, Atlas provides transportation, storage, and last-mile delivery services designed to move sand from its facilities to well sites.