Atlas Energy Solutions (NYSE:AESI) Given Outperform Rating at Royal Bank of Canada

Atlas Energy Solutions (NYSE:AESI)‘s stock had its “outperform” rating reaffirmed by research analysts at Royal Bank of Canada in a report issued on Wednesday,Benzinga reports. They presently have a $25.00 price objective on the stock. Royal Bank of Canada’s price target suggests a potential upside of 36.53% from the company’s previous close.

Several other research firms have also recently issued reports on AESI. Piper Sandler started coverage on shares of Atlas Energy Solutions in a research report on Wednesday, March 12th. They set an “overweight” rating and a $22.00 price objective for the company. Benchmark cut their target price on Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. The Goldman Sachs Group initiated coverage on shares of Atlas Energy Solutions in a report on Friday, December 13th. They set a “neutral” rating and a $23.00 price objective on the stock. Barclays decreased their price objective on shares of Atlas Energy Solutions from $23.00 to $19.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. Finally, Raymond James cut shares of Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, January 6th. Six equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.83.

Atlas Energy Solutions Stock Up 1.1 %

Shares of NYSE:AESI traded up $0.20 during trading on Wednesday, hitting $18.31. The company’s stock had a trading volume of 271,547 shares, compared to its average volume of 1,161,165. The company has a market capitalization of $2.23 billion, a PE ratio of 23.27 and a beta of 1.18. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.23. Atlas Energy Solutions has a fifty-two week low of $16.98 and a fifty-two week high of $26.86. The business has a 50 day moving average price of $20.23 and a two-hundred day moving average price of $21.29.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly earnings results on Monday, February 24th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.12). The company had revenue of $271.34 million for the quarter, compared to analysts’ expectations of $272.94 million. Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. As a group, research analysts expect that Atlas Energy Solutions will post 0.83 EPS for the current fiscal year.

Insider Transactions at Atlas Energy Solutions

In other Atlas Energy Solutions news, major shareholder Brian Anthony Leveille sold 12,500 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $24.46, for a total value of $305,750.00. Following the sale, the insider now owns 362,010 shares of the company’s stock, valued at approximately $8,854,764.60. This represents a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Gregory M. Shepard purchased 32,155 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was purchased at an average price of $19.04 per share, with a total value of $612,231.20. Following the transaction, the insider now owns 7,651,210 shares of the company’s stock, valued at approximately $145,679,038.40. This represents a 0.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 50,000 shares of company stock valued at $1,164,750 in the last ninety days. 24.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Atlas Energy Solutions

Several hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its stake in shares of Atlas Energy Solutions by 7.7% during the 4th quarter. Wellington Management Group LLP now owns 855,405 shares of the company’s stock worth $18,973,000 after purchasing an additional 61,185 shares in the last quarter. Ashford Capital Management Inc. increased its position in Atlas Energy Solutions by 36.1% during the fourth quarter. Ashford Capital Management Inc. now owns 797,675 shares of the company’s stock worth $17,692,000 after buying an additional 211,675 shares in the last quarter. Squarepoint Ops LLC lifted its position in shares of Atlas Energy Solutions by 135.0% in the fourth quarter. Squarepoint Ops LLC now owns 68,880 shares of the company’s stock valued at $1,528,000 after acquiring an additional 39,570 shares in the last quarter. Snowden Capital Advisors LLC lifted its position in shares of Atlas Energy Solutions by 44.9% in the fourth quarter. Snowden Capital Advisors LLC now owns 24,470 shares of the company’s stock valued at $543,000 after acquiring an additional 7,587 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC boosted its stake in shares of Atlas Energy Solutions by 40.6% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 290,319 shares of the company’s stock valued at $6,439,000 after acquiring an additional 83,843 shares during the last quarter. 34.59% of the stock is currently owned by hedge funds and other institutional investors.

Atlas Energy Solutions Company Profile

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.