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

Atlas Energy Solutions (NYSE:AESI) had its target price lowered by Barclays from $13.00 to $7.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other brokerages have also issued reports on AESI. Piper Sandler dropped their target price on shares of Atlas Energy Solutions from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 4th. Glj Research initiated coverage on Atlas Energy Solutions in a research note on Wednesday, October 28th. They issued a “buy” rating and a $13.00 target price for the company. Royal Bank Of Canada reduced their price target on Atlas Energy Solutions from $16.00 to $13.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 4th. Scotiabank boosted their price target on shares of Atlas Energy Solutions from $17.00 to $18.00 and gave the company a “sector outperform” rating in a research report on Wednesday, November 4th. Finally, The Goldman Sachs Group set a $12.00 price objective on shares of Atlas Energy Solutions in a report on Friday, August 7th. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $15.80.

Atlas Energy Solutions Stock Performance

NYSE AESI opened at $5.57 on Wednesday. Atlas Energy Solutions has a fifty-two week low of $5.08 and a fifty-two week high of $20.13. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.99 and a current ratio of 1.22. The firm has a market capitalization of $697.45 million, a P/E ratio of -4.97 and a beta of 1.29. The stock has a 50-day simple moving average of $10.55 and a two-hundred day simple moving average of $13.11.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings results 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). The company had revenue of $267.78 million for the quarter, compared to analysts’ expectations of $265.32 million. Atlas Energy Solutions had a negative net margin of 12.98% and a negative return on equity of 12.38%. The firm’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.19) earnings per share. On average, equities analysts forecast that Atlas Energy Solutions will post -1.02 earnings per share for the current year.

Insider Activity

In related news, insider Gregory Shepard sold 500,000 shares of the firm’s stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $5.32, for a total value of $2,660,000.00. Following the sale, the insider owned 6,921,210 shares of the company’s stock, valued at $36,820,837.20. This trade represents a 6.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders sold 890,500 shares of company stock valued at $4,754,980. Company insiders own 16.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Marshall Wace LLP boosted its holdings in Atlas Energy Solutions by 77.2% in the third quarter. Marshall Wace LLP now owns 274,537 shares of the company’s stock valued at $3,297,000 after purchasing an additional 119,616 shares in the last quarter. 49 Wealth Management LLC purchased a new position in Atlas Energy Solutions during the 3rd quarter worth $1,127,000. Barrow Hanley Mewhinney & Strauss LLC increased its position in Atlas Energy Solutions by 14.2% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,029,083 shares of the company’s stock valued at $36,379,000 after acquiring an additional 377,645 shares during the period. Advisors Asset Management Inc. acquired a new position in shares of Atlas Energy Solutions in the third quarter valued at approximately $3,283,000. Finally, Ieq Capital LLC increased its stake in Atlas Energy Solutions by 7.6% in the 3rd quarter. Ieq Capital LLC now owns 64,951 shares of the company’s stock valued at $780,000 after buying an additional 4,576 shares during the period. 34.59% of the stock is owned by institutional investors and hedge funds.

About Atlas Energy Solutions

Atlas Energy Solutions Inc. is a U.S. energy-services company that supplies proppant, primarily frac sand, used in hydraulic fracturing. The company mines, processes and distributes sand for oil and natural gas operators. Atlas also provides logistics services to move proppant from its facilities to well sites, including transportation and storage. Its operations are focused on the Permian Basin in West Texas and southeastern New Mexico, a major oil and gas producing region. Founded in 2017, the company has developed an integrated supply and logistics network serving energy producers in the region.