Atlas Energy Solutions (NYSE:AESI) Coverage Initiated at Piper Sandler

Stock analysts at Piper Sandler assumed coverage on shares of Atlas Energy Solutions (NYSE:AESI) in a research note issued on Wednesday, MarketBeat.com reports. The brokerage set an “overweight” rating and a $22.00 price target on the stock. Piper Sandler’s target price points to a potential upside of 27.81% from the company’s current price.

Several other analysts have also recently issued reports on the company. Stephens increased their price objective on Atlas Energy Solutions from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Citigroup cut Atlas Energy Solutions from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $23.00 to $22.00 in a research note on Thursday, November 14th. Royal Bank of Canada reduced their price objective on Atlas Energy Solutions from $28.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Barclays reduced their price objective on Atlas Energy Solutions from $23.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. Finally, The Goldman Sachs Group assumed coverage on Atlas Energy Solutions in a research note on Friday, December 13th. They issued a “neutral” rating and a $23.00 price target on the stock. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Atlas Energy Solutions has a consensus rating of “Moderate Buy” and an average price target of $23.83.

Atlas Energy Solutions Stock Down 1.9 %

NYSE:AESI opened at $17.21 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.23 and a debt-to-equity ratio of 0.42. The stock’s fifty day moving average is $21.61 and its two-hundred day moving average is $21.53. Atlas Energy Solutions has a 52 week low of $16.98 and a 52 week high of $26.86. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 21.79 and a beta of 1.18.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings data on Monday, February 24th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.12). The company had revenue of $271.34 million during the quarter, compared to analyst estimates of $272.94 million. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. Research analysts anticipate 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 dated Thursday, January 2nd. The stock was sold at an average price of $23.00, for a total transaction of $115,000.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Stacy Hock sold 8,571 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $22.55, for a total value of $193,276.05. Following the transaction, the insider now directly owns 917,604 shares in the company, valued at approximately $20,691,970.20. This represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,571 shares of company stock valued at $1,473,876. 24.34% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Atlas Energy Solutions

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

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.