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

Atlas Energy Solutions (NYSE:AESI) had its price objective cut by Royal Bank Of Canada from $16.00 to $13.00 in a research report released on Wednesday,Benzinga reports. They currently have a sector perform rating on the stock.

AESI has been the subject of a number of other reports. Zacks Research lowered shares of Atlas Energy Solutions from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 20th. Citigroup lowered their target price on shares of Atlas Energy Solutions from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, September 3rd. The Goldman Sachs Group set a $12.00 target price on Atlas Energy Solutions in a research report on Friday, August 7th. Barclays cut their price target on Atlas Energy Solutions from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Thursday, October 15th. Finally, Stephens reduced their price target on Atlas Energy Solutions from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Monday, October 5th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $16.90.

Atlas Energy Solutions Stock Performance

NYSE AESI traded up $0.04 during trading on Wednesday, hitting $5.36. 6,596,395 shares of the company’s stock traded hands, compared to its average volume of 3,690,576. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.58 and a current ratio of 1.82. The stock has a market capitalization of $669.62 million, a price-to-earnings ratio of -4.78 and a beta of 1.29. Atlas Energy Solutions has a 12-month low of $5.12 and a 12-month high of $20.13. The business has a 50 day moving average of $11.29 and a 200-day moving average of $13.26.

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

Hedge Funds Weigh In On Atlas Energy Solutions

A number of large investors have recently modified their holdings of the company. Cetera Investment Advisers grew its stake in Atlas Energy Solutions by 6.9% during the first quarter. Cetera Investment Advisers now owns 21,094 shares of the company’s stock valued at $277,000 after acquiring an additional 1,357 shares in the last quarter. Citizens Financial Group Inc. RI lifted its stake in Atlas Energy Solutions by 6.0% in the 1st quarter. Citizens Financial Group Inc. RI now owns 23,966 shares of the company’s stock worth $314,000 after purchasing an additional 1,364 shares in the last quarter. State of Wyoming bought a new position in Atlas Energy Solutions in the 1st quarter valued at $48,000. Central Pacific Bank Trust Division boosted its holdings in Atlas Energy Solutions by 19.9% in the 3rd quarter. Central Pacific Bank Trust Division now owns 30,472 shares of the company’s stock valued at $366,000 after purchasing an additional 5,067 shares during the period. Finally, Argentarii LLC boosted its holdings in 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 purchasing an additional 6,091 shares during the period. 34.59% of the stock is currently owned by institutional investors.

Atlas Energy Solutions Company Profile

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.