Atlas Energy Solutions (NYSE:AESI) Announces Quarterly Earnings Results

Atlas Energy Solutions (NYSE:AESI) announced its quarterly earnings results on Monday. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.12), FiscalAI reports. The company had revenue of $267.78 million during the quarter, compared to analysts’ expectations of $265.32 million. Atlas Energy Solutions had a negative net margin of 11.08% and a negative return on equity of 9.57%.

Atlas Energy Solutions Stock Performance

AESI stock traded down $1.01 during trading on Monday, reaching $8.21. The company had a trading volume of 4,047,200 shares, compared to its average volume of 3,599,051. The firm has a 50-day simple moving average of $11.85 and a 200-day simple moving average of $13.37. The company has a market cap of $1.03 billion, a price-to-earnings ratio of -8.64 and a beta of 1.29. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.58 and a current ratio of 1.82. Atlas Energy Solutions has a twelve month low of $7.64 and a twelve month high of $20.13.

Wall Street Analyst Weigh In

AESI has been the topic of a number of recent research reports. Piper Sandler dropped their price objective on Atlas Energy Solutions from $19.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, August 27th. Stifel Nicolaus reduced their target price on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Barclays decreased their price target on shares of Atlas Energy Solutions from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Thursday, October 15th. The Goldman Sachs Group set a $12.00 price target on shares of Atlas Energy Solutions in a report on Friday, August 7th. Finally, Citigroup cut their price objective on shares of Atlas Energy Solutions from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday, September 3rd. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $17.10.

Atlas Energy Solutions Company Profile

Atlas Energy Solutions Inc (NYSE:AESI) is an energy-services company that supplies proppant and logistics solutions to oil and natural gas producers. Its primary products include frac sand, which is used in hydraulic fracturing to help keep underground rock fractures open and improve the flow of hydrocarbons.

The company operates sand mines, processing facilities, and related infrastructure in the Permian Basin of West Texas. In addition to producing and selling proppant, Atlas provides transportation, storage, and last-mile delivery services designed to move sand from its facilities to well sites.