Atlas Energy Solutions (NYSE:AESI) Stock Gets Price Target Cut from Piper Sandler

Atlas Energy Solutions (NYSE:AESI) had its price objective lowered by Piper Sandler from $15.00 to $13.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other analysts have also recently issued research reports about the stock. Stifel Nicolaus cut 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 report on Thursday, August 6th. Zacks Research cut Atlas Energy Solutions from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 20th. Glj Research assumed coverage on Atlas Energy Solutions in a report on Wednesday, October 28th. They issued a “buy” rating and a $13.00 target price for the company. Royal Bank Of Canada dropped their price target on Atlas Energy Solutions from $16.00 to $13.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Finally, Scotiabank began coverage on Atlas Energy Solutions in a report on Tuesday, September 29th. They set a “sector outperform” rating and a $14.00 price target on the stock. Six 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $16.90.

Atlas Energy Solutions Trading Up 0.7%

Shares of NYSE AESI traded up $0.04 during midday trading on Wednesday, reaching $5.36. The stock had a trading volume of 6,596,395 shares, compared to its average volume of 3,690,576. The company’s 50 day moving average price is $11.29 and its 200 day moving average price is $13.26. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.58 and a current ratio of 1.82. Atlas Energy Solutions has a twelve month low of $5.12 and a twelve month high of $20.13. The firm has a market cap of $669.62 million, a price-to-earnings ratio of -4.78 and a beta of 1.29.

Atlas Energy Solutions (NYSE:AESI) last posted its quarterly earnings data on Monday, November 2nd. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.12). Atlas Energy Solutions had a negative return on equity of 12.15% and a negative net margin of 12.98%. The firm had revenue of $267.78 million for the quarter, compared to analyst estimates of $265.32 million. During the same quarter last year, the company earned ($0.19) earnings per share. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. As a group, sell-side analysts expect that Atlas Energy Solutions will post -0.95 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AESI. Encompass Capital Advisors LLC bought a new position in Atlas Energy Solutions in the first quarter worth approximately $119,854,000. Wasatch Advisors LP bought a new stake in shares of Atlas Energy Solutions during the second quarter valued at approximately $30,468,000. Dimensional Fund Advisors LP increased its holdings in shares of Atlas Energy Solutions by 12.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,502,480 shares of the company’s stock valued at $19,713,000 after acquiring an additional 167,758 shares in the last quarter. CenterBook Partners LP raised its position in shares of Atlas Energy Solutions by 84.8% during the third quarter. CenterBook Partners LP now owns 1,180,943 shares of the company’s stock worth $14,183,000 after purchasing an additional 541,774 shares during the period. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new position in shares of Atlas Energy Solutions during the third quarter worth approximately $9,992,000. 34.59% of the stock is owned by institutional investors and hedge funds.

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.