Royal Bank of Canada Trims Atlas Energy Solutions (NYSE:AESI) Target Price to $26.00

Atlas Energy Solutions (NYSE:AESI) had its target price decreased by analysts at Royal Bank of Canada from $27.00 to $26.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 32.32% from the company’s current price.

Several other research analysts have also recently weighed in on the stock. The Goldman Sachs Group upped their price target on shares of Atlas Energy Solutions from $25.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Tudor Pickering upgraded shares of Atlas Energy Solutions to a “strong-buy” rating in a report on Monday, June 24th. Raymond James upped their price target on shares of Atlas Energy Solutions from $26.00 to $27.00 and gave the company a “strong-buy” rating in a report on Tuesday, April 16th. Piper Sandler reduced their price target on shares of Atlas Energy Solutions from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Finally, Bank of America reduced their target price on shares of Atlas Energy Solutions from $25.00 to $24.00 and set a “buy” rating for the company in a report on Monday, July 15th. Nine research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Atlas Energy Solutions presently has a consensus rating of “Buy” and an average price target of $26.56.

Atlas Energy Solutions Trading Up 2.6 %

Shares of AESI traded up $0.50 on Wednesday, reaching $19.65. 257,828 shares of the company’s stock were exchanged, compared to its average volume of 914,454. The company has a current ratio of 2.24, a quick ratio of 2.05 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $1.97 billion, a P/E ratio of 10.88, a price-to-earnings-growth ratio of 4.88 and a beta of 0.56. The business has a 50 day moving average price of $20.68 and a two-hundred day moving average price of $20.88. Atlas Energy Solutions has a 12 month low of $15.55 and a 12 month high of $24.93.

Atlas Energy Solutions (NYSE:AESI) last posted its quarterly earnings results on Monday, May 6th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.12). Atlas Energy Solutions had a return on equity of 29.56% and a net margin of 19.98%. The business had revenue of $192.67 million for the quarter, compared to the consensus estimate of $196.39 million. During the same period last year, the firm earned $0.03 earnings per share. The company’s quarterly revenue was up 25.6% on a year-over-year basis. Research analysts anticipate that Atlas Energy Solutions will post 1.86 earnings per share for the current year.

Insider Buying and Selling at Atlas Energy Solutions

In other news, major shareholder Chad M. Mcever sold 100,000 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $24.55, for a total value of $2,455,000.00. Following the transaction, the insider now directly owns 451,755 shares of the company’s stock, valued at $11,090,585.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Richard W. Schmidt sold 45,948 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $23.06, for a total transaction of $1,059,560.88. Following the transaction, the insider now directly owns 983,315 shares of the company’s stock, valued at $22,675,243.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Chad M. Mcever sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $24.55, for a total transaction of $2,455,000.00. Following the transaction, the insider now directly owns 451,755 shares in the company, valued at $11,090,585.25. The disclosure for this sale can be found here. Over the last quarter, insiders bought 134,526 shares of company stock worth $2,611,884 and sold 214,243 shares worth $5,029,887. Corporate insiders own 24.34% of the company’s stock.

Hedge Funds Weigh In On Atlas Energy Solutions

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Atlas Energy Solutions by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 4,615,793 shares of the company’s stock valued at $104,409,000 after buying an additional 33,286 shares during the period. Meridian Wealth Advisors LLC increased its holdings in Atlas Energy Solutions by 25.8% in the 2nd quarter. Meridian Wealth Advisors LLC now owns 2,677,490 shares of the company’s stock valued at $53,362,000 after buying an additional 548,620 shares during the period. Janus Henderson Group PLC increased its holdings in Atlas Energy Solutions by 26.9% in the 1st quarter. Janus Henderson Group PLC now owns 2,537,215 shares of the company’s stock valued at $57,392,000 after buying an additional 537,927 shares during the period. Whitebox Advisors LLC bought a new position in Atlas Energy Solutions in the 1st quarter valued at about $49,712,000. Finally, Clearbridge Investments LLC increased its holdings in Atlas Energy Solutions by 38.2% in the 1st quarter. Clearbridge Investments LLC now owns 2,305,271 shares of the company’s stock valued at $52,145,000 after buying an additional 636,785 shares during the period. 34.59% of the stock is owned by institutional investors.

About Atlas Energy Solutions

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.