Atlas Energy Solutions Inc. $AESI Shares Newly Acquired by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in Atlas Energy Solutions Inc. (NYSE:AESI) in the third quarter, Holdings Channel.com reports. The institutional investor bought 832,000 shares of the company’s stock, valued at approximately $9,992,000.

Several other hedge funds have also modified their holdings of the company. Encompass Capital Advisors LLC bought a new stake in shares of Atlas Energy Solutions in the 1st quarter valued at about $119,854,000. Wasatch Advisors LP purchased a new stake in Atlas Energy Solutions during the second quarter valued at approximately $30,468,000. Dimensional Fund Advisors LP lifted its position in Atlas Energy Solutions by 12.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,502,480 shares of the company’s stock valued at $19,713,000 after acquiring an additional 167,758 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Atlas Energy Solutions in the second quarter valued at approximately $7,765,000. Finally, Bank of America Corp DE boosted its stake in Atlas Energy Solutions by 81.2% in the first quarter. Bank of America Corp DE now owns 526,613 shares of the company’s stock valued at $6,909,000 after acquiring an additional 236,010 shares in the last quarter. 34.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Zacks Research lowered shares of Atlas Energy Solutions from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 20th. Stephens reduced their target price on Atlas Energy Solutions from $22.00 to $20.00 and set an “overweight” rating on the stock in a research report on Monday, October 5th. Scotiabank started coverage on Atlas Energy Solutions in a research note on Tuesday, September 29th. They issued a “sector outperform” rating and a $14.00 price target for the company. Piper Sandler decreased their price target on Atlas Energy Solutions from $19.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, August 27th. Finally, Barclays lowered their price target on Atlas Energy Solutions from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Thursday, October 15th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Atlas Energy Solutions currently has a consensus rating of “Hold” and a consensus target price of $17.56.

Atlas Energy Solutions Stock Performance

Shares of AESI stock opened at $8.99 on Tuesday. Atlas Energy Solutions Inc. has a 52-week low of $7.64 and a 52-week high of $20.13. The stock has a market cap of $1.12 billion, a PE ratio of -9.47 and a beta of 1.19. The business has a 50-day simple moving average of $12.14 and a 200-day simple moving average of $13.39. The company has a quick ratio of 1.58, a current ratio of 1.82 and a debt-to-equity ratio of 0.87.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly earnings data on Monday, August 3rd. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.05). Atlas Energy Solutions had a negative return on equity of 9.57% and a negative net margin of 11.08%. The firm had revenue of $293.18 million for the quarter, compared to analyst estimates of $282.24 million. During the same period in the previous year, the business earned ($0.04) EPS. Atlas Energy Solutions’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, equities analysts expect that Atlas Energy Solutions Inc. will post -0.95 EPS for the current year.

Atlas Energy Solutions 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.