Atlas Energy Solutions (NYSE:AESI) Stock Price Expected to Rise, Stephens Analyst Says

Atlas Energy Solutions (NYSE:AESI) had its target price increased by equities research analysts at Stephens from $28.00 to $29.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Stephens’ price target indicates a potential upside of 14.31% from the company’s current price.

Several other research firms have also commented on AESI. Raymond James lowered shares of Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, January 6th. The Goldman Sachs Group assumed coverage on shares of Atlas Energy Solutions in a research report on Friday, December 13th. They set a “neutral” rating and a $23.00 price objective on the stock. Pickering Energy Partners cut shares of Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 30th. Royal Bank of Canada upped their target price on Atlas Energy Solutions from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Citigroup lowered Atlas Energy Solutions from a “buy” rating to a “neutral” rating and lowered their price target for the company from $23.00 to $22.00 in a research note on Thursday, November 14th. Six equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.94.

Atlas Energy Solutions Stock Performance

Shares of AESI stock traded up $0.68 during mid-day trading on Tuesday, hitting $25.37. 815,482 shares of the stock were exchanged, compared to its average volume of 968,727. The stock’s fifty day simple moving average is $22.82 and its two-hundred day simple moving average is $21.45. Atlas Energy Solutions has a 12-month low of $16.42 and a 12-month high of $26.86. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of 31.94, 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 quick ratio of 1.08 and a current ratio of 1.23.

Atlas Energy Solutions (NYSE:AESI) last posted its earnings results on Monday, October 28th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.25). The firm had revenue of $304.40 million during the quarter, compared to analyst estimates of $307.93 million. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The firm’s revenue for the quarter was up 93.1% on a year-over-year basis. During the same period last year, the company posted $0.51 EPS. On average, analysts forecast that Atlas Energy Solutions will post 0.84 EPS for the current year.

Insider Transactions at Atlas Energy Solutions

In related news, major shareholder Brian Anthony Leveille sold 20,000 shares of Atlas Energy Solutions stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $21.39, for a total value of $427,800.00. Following the transaction, the insider now directly owns 512,010 shares of the company’s stock, valued at $10,951,893.90. The trade was a 3.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Gregory M. Shepard purchased 14,347 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was acquired at an average cost of $19.57 per share, for a total transaction of $280,770.79. Following the completion of the purchase, the insider now owns 7,554,653 shares of the company’s stock, valued at approximately $147,844,559.21. This trade represents a 0.19 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 132,142 shares of company stock valued at $2,993,921. Company insiders own 24.34% of the company’s stock.

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 AESI. State of Alaska Department of Revenue purchased a new stake in Atlas Energy Solutions during the 4th quarter worth about $764,000. Yousif Capital Management LLC bought a new stake in Atlas Energy Solutions in the fourth quarter valued at approximately $509,000. Hodges Capital Management Inc. boosted its holdings in shares of Atlas Energy Solutions by 44.7% during the fourth quarter. Hodges Capital Management Inc. now owns 194,000 shares of the company’s stock worth $4,302,000 after purchasing an additional 59,940 shares during the period. Copeland Capital Management LLC increased its stake in shares of Atlas Energy Solutions by 19.3% during the fourth quarter. Copeland Capital Management LLC now owns 2,247,774 shares of the company’s stock valued at $49,856,000 after buying an additional 363,742 shares during the period. Finally, DAVENPORT & Co LLC raised its holdings in Atlas Energy Solutions by 29.0% in the 4th quarter. DAVENPORT & Co LLC now owns 45,800 shares of the company’s stock worth $1,016,000 after purchasing an additional 10,300 shares in the last quarter. 34.59% of the stock is owned by hedge funds and other institutional investors.

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.