Royal Bank of Canada Issues Positive Forecast for Atlas Energy Solutions (NYSE:AESI) Stock Price

Atlas Energy Solutions (NYSE:AESI) had its target price boosted by Royal Bank of Canada from $27.00 to $28.00 in a research note issued to investors on Tuesday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other research firms also recently commented on AESI. Pickering Energy Partners downgraded shares of Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 30th. 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 target for the company. Raymond James cut Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, January 6th. Bank of America restated a “neutral” rating and issued a $22.50 price target on shares of Atlas Energy Solutions in a research report on Monday, January 13th. Finally, Barclays lowered shares of Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $23.00 to $19.00 in a research report on Tuesday, November 12th. Six investment 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.94.

Atlas Energy Solutions Trading Up 1.2 %

AESI stock opened at $24.98 on Tuesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.08. Atlas Energy Solutions has a 1-year low of $16.42 and a 1-year high of $26.86. The business has a 50 day simple moving average of $22.90 and a two-hundred day simple moving average of $21.48. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of 31.62, a PEG ratio of 6.98 and a beta of 1.03.

Atlas Energy Solutions (NYSE:AESI) last issued its earnings results on Monday, October 28th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.25). The company had revenue of $304.40 million for the quarter, compared to the consensus estimate of $307.93 million. Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. Atlas Energy Solutions’s revenue was up 93.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.51 EPS. Research analysts anticipate that Atlas Energy Solutions will post 0.84 EPS for the current fiscal year.

Insider Buying and Selling

In other Atlas Energy Solutions news, major shareholder Brian Anthony Leveille sold 30,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $24.02, for a total value of $720,600.00. Following the sale, the insider now owns 432,010 shares in the company, valued at $10,376,880.20. This trade represents a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Gregory M. Shepard bought 13,363 shares of the stock in a transaction dated Monday, November 4th. The shares were bought at an average cost of $19.19 per share, with a total value of $256,435.97. Following the completion of the purchase, the insider now directly owns 7,619,055 shares of the company’s stock, valued at approximately $146,209,665.45. This trade represents a 0.18 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 132,142 shares of company stock valued at $2,993,921 in the last ninety days. 24.34% of the stock is owned by company insiders.

Hedge Funds Weigh In On Atlas Energy Solutions

A number of hedge funds have recently added to or reduced their stakes in the stock. Stifel Financial Corp raised its stake in shares of Atlas Energy Solutions by 28.6% during the third quarter. Stifel Financial Corp now owns 126,667 shares of the company’s stock valued at $2,761,000 after acquiring an additional 28,158 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Atlas Energy Solutions by 5.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 518,569 shares of the company’s stock worth $11,305,000 after purchasing an additional 25,999 shares during the period. Ashford Capital Management Inc. raised its position in Atlas Energy Solutions by 27.9% during the 3rd quarter. Ashford Capital Management Inc. now owns 586,000 shares of the company’s stock valued at $12,775,000 after purchasing an additional 127,910 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Atlas Energy Solutions in the 3rd quarter worth $844,000. Finally, State Street Corp grew its position in shares of Atlas Energy Solutions by 15.0% during the 3rd quarter. State Street Corp now owns 1,751,059 shares of the company’s stock worth $38,173,000 after buying an additional 227,776 shares in the last quarter. 34.59% of the stock is currently owned by 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.