Atlas Energy Solutions (NYSE:AESI) Sets New 52-Week High After Analyst Upgrade

Atlas Energy Solutions Inc. (NYSE:AESI)’s stock price hit a new 52-week high during mid-day trading on Tuesday after Stephens raised their price target on the stock from $28.00 to $29.00. Stephens currently has an overweight rating on the stock. Atlas Energy Solutions traded as high as $26.86 and last traded at $25.90, with a volume of 499947 shares trading hands. The stock had previously closed at $24.69.

AESI has been the subject of a number of other reports. Barclays lowered Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $23.00 to $19.00 in a research report on Tuesday, November 12th. Royal Bank of Canada boosted their price objective on Atlas Energy Solutions from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Tuesday. Pickering Energy Partners lowered Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 30th. Citigroup lowered Atlas Energy Solutions from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $23.00 to $22.00 in a report on Thursday, November 14th. Finally, The Goldman Sachs Group initiated coverage on Atlas Energy Solutions in a report on Friday, December 13th. They set a “neutral” rating and a $23.00 price objective for the company. Six research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Atlas Energy Solutions has an average rating of “Moderate Buy” and a consensus price target of $24.94.

Insider Activity at Atlas Energy Solutions

In other news, major shareholder Gregory M. Shepard acquired 13,363 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were acquired at an average price of $19.19 per share, for a total transaction of $256,435.97. Following the completion of the purchase, the insider now owns 7,619,055 shares in the company, valued at approximately $146,209,665.45. This trade represents a 0.18 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Brian Anthony Leveille sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $20.70, for a total value of $207,000.00. Following the completion of the transaction, the insider now owns 482,010 shares in the company, valued at approximately $9,977,607. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 132,142 shares of company stock worth $2,993,921. Insiders own 24.34% of the company’s stock.

Institutional Investors Weigh In On Atlas Energy Solutions

Institutional investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. raised its position in shares of Atlas Energy Solutions by 127.7% in the second quarter. Envestnet Asset Management Inc. now owns 249,826 shares of the company’s stock worth $4,979,000 after buying an additional 140,110 shares in the last quarter. Dimensional Fund Advisors LP purchased a new stake in shares of Atlas Energy Solutions in the second quarter worth $280,000. Amalgamated Bank raised its position in shares of Atlas Energy Solutions by 328.1% in the second quarter. Amalgamated Bank now owns 2,350 shares of the company’s stock worth $47,000 after buying an additional 1,801 shares in the last quarter. Sei Investments Co. raised its position in shares of Atlas Energy Solutions by 80.8% in the second quarter. Sei Investments Co. now owns 159,332 shares of the company’s stock worth $3,177,000 after buying an additional 71,226 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Atlas Energy Solutions in the second quarter worth $8,898,000. Hedge funds and other institutional investors own 34.59% of the company’s stock.

Atlas Energy Solutions Stock Up 2.3 %

The company has a quick ratio of 1.08, a current ratio of 1.23 and a debt-to-equity ratio of 0.42. The company has a market cap of $2.78 billion, a PE ratio of 32.22, a P/E/G ratio of 6.98 and a beta of 1.03. The stock has a 50-day moving average of $22.82 and a 200-day moving average of $21.45.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.25). Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The business had revenue of $304.40 million during the quarter, compared to analysts’ expectations of $307.93 million. During the same quarter last year, the business posted $0.51 EPS. The company’s quarterly revenue was up 93.1% on a year-over-year basis. Sell-side analysts predict that Atlas Energy Solutions Inc. will post 0.84 earnings per share for the current fiscal year.

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.