Atlas Energy Solutions (NYSE:AESI) Stock Gets Price Target Reduction from Citigroup

Atlas Energy Solutions (NYSE:AESI) had its target price reduced by Citigroup from $17.00 to $16.00 in a report released on Wednesday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

Other equities research analysts also recently issued research reports about the company. Barclays decreased their price target on Atlas Energy Solutions from $13.00 to $7.00 and set an “equal weight” rating for the company in a report on Wednesday. Stifel Nicolaus cut their price objective on shares of Atlas Energy Solutions from $25.00 to $21.00 and set a “buy” rating on the stock in a report on Monday, November 9th. Glj Research started coverage on shares of Atlas Energy Solutions in a report on Wednesday, October 28th. They set a “buy” rating and a $13.00 price objective on the stock. Scotiabank upped their target price on shares of Atlas Energy Solutions from $17.00 to $18.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, November 4th. Finally, Piper Sandler lowered their target price on shares of Atlas Energy Solutions from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, November 4th. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $15.80.

Atlas Energy Solutions Trading Up 1.2%

AESI opened at $5.57 on Wednesday. Atlas Energy Solutions has a fifty-two week low of $5.08 and a fifty-two week high of $20.13. The firm has a market capitalization of $697.45 million, a PE ratio of -4.97 and a beta of 1.29. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.22 and a quick ratio of 0.99. The company’s 50-day moving average is $10.55 and its 200 day moving average is $13.11.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly earnings data on Monday, November 2nd. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.12). Atlas Energy Solutions had a negative return on equity of 12.38% and a negative net margin of 12.98%. The company had revenue of $267.78 million for the quarter, compared to the consensus estimate of $265.32 million. During the same period in the prior year, the firm posted ($0.19) earnings per share. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. As a group, research analysts predict that Atlas Energy Solutions will post -1.02 earnings per share for the current fiscal year.

Insider Activity at Atlas Energy Solutions

In other Atlas Energy Solutions news, insider Gregory Shepard sold 500,000 shares of Atlas Energy Solutions stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $5.32, for a total transaction of $2,660,000.00. Following the transaction, the insider directly owned 6,921,210 shares of the company’s stock, valued at approximately $36,820,837.20. This trade represents a 6.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 890,500 shares of company stock worth $4,754,980 over the last quarter. Company insiders own 16.40% of the company’s stock.

Hedge Funds Weigh In On Atlas Energy Solutions

Several institutional investors and hedge funds have recently made changes to their positions in the business. Marshall Wace LLP lifted its stake in Atlas Energy Solutions by 77.2% in the third quarter. Marshall Wace LLP now owns 274,537 shares of the company’s stock worth $3,297,000 after purchasing an additional 119,616 shares during the last quarter. 49 Wealth Management LLC purchased a new position in shares of Atlas Energy Solutions in the third quarter worth about $1,127,000. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Atlas Energy Solutions by 14.2% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,029,083 shares of the company’s stock worth $36,379,000 after buying an additional 377,645 shares during the period. Advisors Asset Management Inc. purchased a new position in shares of Atlas Energy Solutions in the third quarter worth about $3,283,000. Finally, Ieq Capital LLC lifted its stake in shares of Atlas Energy Solutions by 7.6% in the 3rd quarter. Ieq Capital LLC now owns 64,951 shares of the company’s stock valued at $780,000 after acquiring an additional 4,576 shares during the last quarter. Institutional investors own 34.59% of the company’s stock.

About Atlas Energy Solutions

Atlas Energy Solutions Inc. is a U.S. energy-services company that supplies proppant, primarily frac sand, used in hydraulic fracturing. The company mines, processes and distributes sand for oil and natural gas operators. Atlas also provides logistics services to move proppant from its facilities to well sites, including transportation and storage. Its operations are focused on the Permian Basin in West Texas and southeastern New Mexico, a major oil and gas producing region. Founded in 2017, the company has developed an integrated supply and logistics network serving energy producers in the region.