Atlas Energy Solutions (NYSE:AESI) Stock Rating Lowered by Citigroup

Atlas Energy Solutions (NYSE:AESI) was downgraded by equities researchers at Citigroup from a “buy” rating to a “neutral” rating in a research report issued on Thursday, MarketBeat Ratings reports. They presently have a $22.00 price objective on the stock, down from their previous price objective of $23.00. Citigroup’s target price indicates a potential upside of 10.28% from the company’s previous close.

Several other analysts have also issued reports on AESI. Pickering Energy Partners lowered shares of Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 30th. Royal Bank of Canada restated an “outperform” rating and set a $25.00 target price on shares of Atlas Energy Solutions in a research report on Wednesday, October 30th. Stephens reiterated an “overweight” rating and issued a $28.00 price target on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. The Goldman Sachs Group cut Atlas Energy Solutions from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $23.00 to $21.00 in a report on Thursday, November 7th. Finally, Benchmark reaffirmed a “buy” rating and set a $27.00 target price on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.44.

Atlas Energy Solutions Stock Down 1.5 %

AESI stock opened at $19.95 on Thursday. The stock has a market cap of $2.20 billion, a P/E ratio of 25.25, a P/E/G ratio of 11.68 and a beta of 0.69. The company has a current ratio of 1.23, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42. The stock’s fifty day simple moving average is $20.94 and its two-hundred day simple moving average is $21.07. Atlas Energy Solutions has a 1-year low of $15.55 and a 1-year high of $24.93.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.25). Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The company had revenue of $304.40 million during the quarter, compared to the consensus estimate of $307.93 million. During the same period in the prior year, the firm posted $0.51 EPS. The business’s revenue was up 93.1% on a year-over-year basis. Analysts expect that Atlas Energy Solutions will post 0.8 EPS for the current year.

Insider Transactions at Atlas Energy Solutions

In other Atlas Energy Solutions news, major shareholder Gregory M. Shepard purchased 13,363 shares of the stock in a transaction on Monday, November 4th. The stock was acquired at an average price of $19.19 per share, with a total value of $256,435.97. Following the transaction, the insider now directly owns 7,619,055 shares of the company’s stock, valued at approximately $146,209,665.45. This trade represents a 0.18 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Brian Anthony Leveille sold 10,000 shares of Atlas Energy Solutions stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $20.50, for a total value of $205,000.00. Following the completion of the sale, the insider now owns 542,010 shares in the company, valued at approximately $11,111,205. This represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 60,869 shares of company stock worth $1,187,983 and have sold 74,284 shares worth $1,548,136. Company insiders own 24.34% of the company’s stock.

Institutional Trading of Atlas Energy Solutions

Several institutional investors and hedge funds have recently bought and sold shares of the stock. First Sabrepoint Capital Management LP purchased a new position in Atlas Energy Solutions during the third quarter valued at $8,066,000. Barclays PLC increased its stake in shares of Atlas Energy Solutions by 574.5% in the 3rd quarter. Barclays PLC now owns 175,082 shares of the company’s stock worth $3,817,000 after acquiring an additional 149,126 shares in the last quarter. Gordian Capital Singapore Pte Ltd purchased a new position in Atlas Energy Solutions during the 3rd quarter valued at about $785,000. Wellington Management Group LLP bought a new stake in Atlas Energy Solutions during the third quarter worth about $17,314,000. Finally, State Street Corp grew its holdings in Atlas Energy Solutions by 15.0% in the third quarter. State Street Corp now owns 1,751,059 shares of the company’s stock worth $38,173,000 after purchasing an additional 227,776 shares during the period. 34.59% of the stock is currently owned by hedge funds and other institutional investors.

About Atlas Energy Solutions

Atlas Energy Solutions Inc engages in the production, processing, and sale of mesh and sand that are used as a proppant during the well completion process in the Permian Basin of Texas and New Mexico. The company provides transportation and logistics, storage solutions, and contract labor services. It sells its products and services to oil and natural gas exploration and production companies, and oilfield services companies.