Atlas Energy Solutions (NYSE:AESI) Rating Lowered to Hold at Raymond James

Atlas Energy Solutions (NYSE:AESI) was downgraded by stock analysts at Raymond James from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other brokerages have also recently weighed in on AESI. Pickering Energy Partners cut Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 30th. Barclays lowered shares of Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $23.00 to $19.00 in a research report on Tuesday, November 12th. Citigroup lowered Atlas Energy Solutions from a “buy” rating to a “neutral” rating and reduced their target price for the company from $23.00 to $22.00 in a research note on Thursday, November 14th. The Goldman Sachs Group started coverage on Atlas Energy Solutions in a report on Friday, December 13th. They issued a “neutral” rating and a $23.00 price target for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $25.00 price objective on shares of Atlas Energy Solutions in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $24.67.

Atlas Energy Solutions Stock Up 0.7 %

Shares of NYSE AESI opened at $22.40 on Monday. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of 28.35, a price-to-earnings-growth ratio of 11.53 and a beta of 1.03. Atlas Energy Solutions has a 52 week low of $15.55 and a 52 week high of $24.93. The firm has a 50-day moving average price of $22.01 and a 200 day moving average price of $21.13. The company has a quick ratio of 1.08, a current ratio of 1.23 and a debt-to-equity ratio of 0.42.

Atlas Energy Solutions (NYSE:AESI) last posted its quarterly 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). The company had revenue of $304.40 million for 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%. Atlas Energy Solutions’s revenue was up 93.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.51 earnings per share. Equities research analysts anticipate that Atlas Energy Solutions will post 0.88 EPS for the current fiscal year.

Insider Transactions at Atlas Energy Solutions

In other Atlas Energy Solutions news, major shareholder Gregory M. Shepard acquired 8,062 shares of the stock in a transaction on Monday, October 21st. The stock was purchased at an average price of $19.84 per share, for a total transaction of $159,950.08. Following the purchase, the insider now directly owns 7,515,256 shares in the company, valued at $149,102,679.04. This trade represents a 0.11 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Brian Anthony Leveille sold 30,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $24.02, for a total value of $720,600.00. Following the transaction, the insider now owns 432,010 shares of the company’s stock, valued at approximately $10,376,880.20. This trade represents a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 60,869 shares of company stock valued at $1,187,983 and sold 129,642 shares valued at $2,890,121. Company insiders own 24.34% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Atlas Energy Solutions by 1.1% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,696,418 shares of the company’s stock worth $53,740,000 after acquiring an additional 30,082 shares in the last quarter. Copeland Capital Management LLC boosted its stake in Atlas Energy Solutions by 19.8% during the 3rd quarter. Copeland Capital Management LLC now owns 1,884,032 shares of the company’s stock valued at $41,072,000 after purchasing an additional 311,228 shares during the period. State Street Corp grew its position in Atlas Energy Solutions by 15.0% in the 3rd 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 last quarter. Victory Capital Management Inc. increased its stake in shares of Atlas Energy Solutions by 13.9% in the second quarter. Victory Capital Management Inc. now owns 1,622,241 shares of the company’s stock valued at $32,331,000 after purchasing an additional 197,783 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Atlas Energy Solutions by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,448,340 shares of the company’s stock valued at $31,579,000 after buying an additional 54,321 shares during the last quarter. 34.59% of the stock is currently owned by 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.