Atlas Energy Solutions (NYSE:AESI) Stock Price Target Cut by Royal Bank Of Canada

Atlas Energy Solutions (NYSE:AESI) had its price target decreased by research analysts at Royal Bank Of Canada from $16.00 to $13.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank Of Canada‘s price target indicates a potential upside of 91.12% from the company’s current price.

Other analysts have also issued reports about the stock. Barclays decreased their price target on shares of Atlas Energy Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 15th. Piper Sandler cut their price objective on shares of Atlas Energy Solutions from $19.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, August 27th. Citigroup reduced their target price on shares of Atlas Energy Solutions from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, September 3rd. Zacks Research downgraded Atlas Energy Solutions from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 20th. Finally, The Goldman Sachs Group set a $12.00 price target on Atlas Energy Solutions in a research note on Friday, August 7th. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $16.70.

Atlas Energy Solutions Stock Performance

Shares of NYSE AESI traded down $1.34 during trading hours on Wednesday, hitting $6.80. 3,423,935 shares of the stock were exchanged, compared to its average volume of 3,602,555. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.82 and a quick ratio of 1.58. The company’s 50 day moving average is $11.68 and its 200 day moving average is $13.34. The firm has a market capitalization of $850.25 million, a P/E ratio of -6.09 and a beta of 1.29. Atlas Energy Solutions has a one year low of $6.81 and a one year high of $20.13.

Atlas Energy Solutions (NYSE:AESI) last announced its earnings results on Monday, November 2nd. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.12). The firm had revenue of $267.78 million during the quarter, compared to the consensus estimate of $265.32 million. Atlas Energy Solutions had a negative return on equity of 12.15% and a negative net margin of 12.98%. The business’s revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.19) EPS. On average, research analysts expect that Atlas Energy Solutions will post -0.95 EPS for the current year.

Institutional Investors Weigh In On Atlas Energy Solutions

A number of hedge funds have recently added to or reduced their stakes in the stock. CenterBook Partners LP grew its stake in shares of Atlas Energy Solutions by 84.8% during the third quarter. CenterBook Partners LP now owns 1,180,943 shares of the company’s stock valued at $14,183,000 after purchasing an additional 541,774 shares during the last quarter. Argentarii LLC raised its position in shares of Atlas Energy Solutions by 3.4% in the 3rd quarter. Argentarii LLC now owns 187,384 shares of the company’s stock valued at $2,250,000 after acquiring an additional 6,091 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in shares of Atlas Energy Solutions during the third quarter worth $9,992,000. Evergreen Capital Management LLC grew its stake in Atlas Energy Solutions by 12.8% in the third quarter. Evergreen Capital Management LLC now owns 546,054 shares of the company’s stock valued at $6,558,000 after acquiring an additional 62,121 shares during the period. Finally, Central Pacific Bank Trust Division increased its stake in Atlas Energy Solutions by 19.9% during the 3rd quarter. Central Pacific Bank Trust Division now owns 30,472 shares of the company’s stock worth $366,000 after purchasing an additional 5,067 shares in the last quarter. Institutional investors own 34.59% of the company’s stock.

About Atlas Energy Solutions

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.