Royal Bank of Canada Forecasts Strong Price Appreciation for Atlas Energy Solutions (NYSE:AESI) Stock

Atlas Energy Solutions (NYSE:AESI) had its price objective boosted by investment analysts at Royal Bank of Canada from $27.00 to $28.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 11.88% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Bank of America reissued a “neutral” rating and set a $22.50 target price on shares of Atlas Energy Solutions in a report on Monday, January 13th. Citigroup downgraded Atlas Energy Solutions from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $23.00 to $22.00 in a report on Thursday, November 14th. Raymond James downgraded Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, January 6th. Barclays downgraded Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $23.00 to $19.00 in a research report on Tuesday, November 12th. Finally, The Goldman Sachs Group assumed coverage on Atlas Energy Solutions in a report on Friday, December 13th. They issued a “neutral” rating and a $23.00 target price on the stock. Six 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 data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $25.06.

Atlas Energy Solutions Stock Performance

Shares of Atlas Energy Solutions stock opened at $25.03 on Tuesday. The company’s 50 day moving average price is $22.97 and its two-hundred day moving average price is $21.51. The firm has a market capitalization of $2.76 billion, a P/E ratio of 31.68, a P/E/G ratio of 6.98 and a beta of 1.03. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.08. Atlas Energy Solutions has a fifty-two week low of $16.42 and a fifty-two week high of $26.86.

Atlas Energy Solutions (NYSE:AESI) last issued its earnings results on Monday, October 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $304.40 million during the quarter, compared to analyst estimates of $307.93 million. During the same period in the previous year, the company earned $0.51 EPS. Atlas Energy Solutions’s revenue for the quarter was up 93.1% on a year-over-year basis. On average, equities analysts forecast that Atlas Energy Solutions will post 0.84 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Brian Anthony Leveille sold 30,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $24.02, for a total value of $720,600.00. Following the transaction, the insider now directly owns 432,010 shares in the company, valued at $10,376,880.20. This trade represents a 6.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Stacy Hock sold 8,571 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $21.12, for a total transaction of $181,019.52. Following the sale, the insider now owns 926,175 shares of the company’s stock, valued at $19,560,816. This trade represents a 0.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 144,642 shares of company stock worth $3,299,671 in the last quarter. 24.34% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Atlas Energy Solutions

Several large investors have recently added to or reduced their stakes in the business. Amalgamated Bank boosted its holdings in Atlas Energy Solutions by 328.1% during the second quarter. Amalgamated Bank now owns 2,350 shares of the company’s stock worth $47,000 after purchasing an additional 1,801 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Atlas Energy Solutions in the 3rd quarter worth approximately $48,000. FMR LLC grew its holdings in shares of Atlas Energy Solutions by 101.0% in the third quarter. FMR LLC now owns 2,696 shares of the company’s stock valued at $59,000 after acquiring an additional 1,355 shares in the last quarter. CWM LLC increased its position in shares of Atlas Energy Solutions by 47.1% during the third quarter. CWM LLC now owns 2,766 shares of the company’s stock valued at $60,000 after acquiring an additional 886 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Atlas Energy Solutions by 55.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,745 shares of the company’s stock worth $125,000 after acquiring an additional 2,043 shares during the period. Institutional investors own 34.59% of the company’s stock.

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.