Atlas Energy Solutions (NYSE:AESI) Now Covered by Scotiabank

Equities researchers at Scotiabank assumed coverage on shares of Atlas Energy Solutions (NYSE:AESI) in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. The brokerage set a “sector outperform” rating and a $14.00 price target on the stock. Scotiabank’s price target suggests a potential upside of 14.33% from the stock’s previous close.

A number of other research analysts have also recently commented on AESI. Piper Sandler reduced their target price on Atlas Energy Solutions from $19.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, August 27th. Barclays raised Atlas Energy Solutions from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $10.00 to $14.00 in a research note on Monday. Citigroup cut their price objective on Atlas Energy Solutions from $21.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, September 3rd. Weiss Ratings lowered Atlas Energy Solutions from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, August 7th. Finally, Royal Bank Of Canada decreased their price objective on Atlas Energy Solutions from $21.00 to $17.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 5th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $17.22.

Atlas Energy Solutions Price Performance

AESI stock opened at $12.24 on Tuesday. The firm has a 50 day simple moving average of $12.46 and a two-hundred day simple moving average of $14.45. The stock has a market cap of $1.53 billion, a PE ratio of -12.89 and a beta of 1.17. Atlas Energy Solutions has a one year low of $7.64 and a one year high of $20.13. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.82 and a quick ratio of 1.58.

Atlas Energy Solutions (NYSE:AESI) last posted its quarterly earnings data on Monday, August 3rd. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.05). Atlas Energy Solutions had a negative net margin of 11.08% and a negative return on equity of 9.57%. The company had revenue of $293.18 million for the quarter, compared to analysts’ expectations of $282.24 million. During the same quarter last year, the business posted ($0.04) EPS. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, analysts predict that Atlas Energy Solutions will post -0.94 EPS for the current fiscal year.

Hedge Funds Weigh In On Atlas Energy Solutions

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Encompass Capital Advisors LLC purchased a new stake in shares of Atlas Energy Solutions during the first quarter valued at approximately $119,854,000. Wasatch Advisors LP purchased a new position in shares of Atlas Energy Solutions in the second quarter worth $30,468,000. Dimensional Fund Advisors LP raised its holdings in Atlas Energy Solutions by 12.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,502,480 shares of the company’s stock valued at $19,713,000 after buying an additional 167,758 shares during the last quarter. Kennedy Capital Management LLC raised its holdings in Atlas Energy Solutions by 39.3% during the 4th quarter. Kennedy Capital Management LLC now owns 1,254,992 shares of the company’s stock valued at $11,822,000 after buying an additional 354,130 shares during the last quarter. Finally, Nixon Capital LLC purchased a new stake in Atlas Energy Solutions during the 4th quarter valued at $11,284,000. 34.59% of the stock is currently owned by institutional investors.

Atlas Energy Solutions Company Profile

Atlas Energy Solutions Inc (NYSE:AESI) provides proppant and logistics services to oil and natural gas producers, primarily operating in the Permian Basin of West Texas and New Mexico. The company supplies frac sand used in hydraulic fracturing to help keep underground rock fractures open and support the recovery of hydrocarbons.

The company operates sand mines, processing facilities and related infrastructure in the Permian Basin. Its product offerings include various grades and sizes of frac sand, including commonly used 40/70 and 100-mesh products.