Royal Bank of Canada Issues Pessimistic Forecast for Atlas Energy Solutions (NYSE:AESI) Stock Price

Atlas Energy Solutions (NYSE:AESI) had its price target decreased by equities researchers at Royal Bank of Canada from $28.00 to $25.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 28.17% from the stock’s previous close.

A number of other brokerages have also issued reports on AESI. Barclays increased their target price on shares of Atlas Energy Solutions from $19.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Bank of America reissued a “neutral” rating and set a $22.50 price target on shares of Atlas Energy Solutions in a research report on Monday, January 13th. Stephens raised their price objective on Atlas Energy Solutions from $28.00 to $29.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. Pickering Energy Partners downgraded Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 30th. Finally, Raymond James cut Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. Six investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.83.

Atlas Energy Solutions Stock Performance

AESI opened at $19.51 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.08. The business has a fifty day simple moving average of $22.37 and a 200 day simple moving average of $21.66. Atlas Energy Solutions has a 1 year low of $17.49 and a 1 year high of $26.86. The company has a market capitalization of $2.15 billion, a PE ratio of 24.69 and a beta of 1.03.

Atlas Energy Solutions (NYSE:AESI) last posted its earnings results on Monday, February 24th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.12). Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The firm had revenue of $271.34 million for the quarter, compared to analyst estimates of $272.94 million. Research analysts expect that Atlas Energy Solutions will post 0.83 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Brian Anthony Leveille sold 5,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $23.00, for a total transaction of $115,000.00. Following the sale, the insider now owns 404,510 shares of the company’s stock, valued at $9,303,730. This trade represents a 1.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Stacy Hock sold 10,000 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $21.96, for a total value of $219,600.00. Following the completion of the transaction, the insider now directly owns 907,604 shares of the company’s stock, valued at approximately $19,930,983.84. The trade was a 1.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 76,071 shares of company stock valued at $1,773,251. 24.34% of the stock is currently owned by corporate insiders.

Institutional Trading of Atlas Energy Solutions

A number of hedge funds have recently made changes to their positions in the company. Ashford Capital Management Inc. increased its stake in shares of Atlas Energy Solutions by 36.1% in the fourth quarter. Ashford Capital Management Inc. now owns 797,675 shares of the company’s stock valued at $17,692,000 after buying an additional 211,675 shares during the period. Squarepoint Ops LLC grew its holdings in Atlas Energy Solutions by 135.0% during the 4th quarter. Squarepoint Ops LLC now owns 68,880 shares of the company’s stock worth $1,528,000 after acquiring an additional 39,570 shares during the last quarter. Snowden Capital Advisors LLC increased its position in Atlas Energy Solutions by 44.9% in the 4th quarter. Snowden Capital Advisors LLC now owns 24,470 shares of the company’s stock valued at $543,000 after acquiring an additional 7,587 shares during the period. Silvercrest Asset Management Group LLC increased its position in Atlas Energy Solutions by 40.6% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 290,319 shares of the company’s stock valued at $6,439,000 after acquiring an additional 83,843 shares during the period. Finally, ProShare Advisors LLC raised its stake in shares of Atlas Energy Solutions by 58.4% during the fourth quarter. ProShare Advisors LLC now owns 20,330 shares of the company’s stock valued at $451,000 after acquiring an additional 7,492 shares during the last quarter. 34.59% of the stock is owned by institutional investors and hedge funds.

Atlas Energy Solutions Company Profile

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.