Atlas Energy Solutions (NYSE:AESI) Upgraded at Barclays

Barclays upgraded shares of Atlas Energy Solutions (NYSE:AESI) from an underweight rating to an equal weight rating in a research note published on Monday, Marketbeat reports. They currently have $14.00 price target on the stock, up from their prior price target of $10.00.

AESI has been the topic of a number of other reports. Citigroup decreased their price objective on Atlas Energy Solutions from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, September 3rd. Piper Sandler cut their target price on Atlas Energy Solutions from $19.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, August 27th. Stifel Nicolaus reduced their price target on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Weiss Ratings downgraded shares of Atlas Energy Solutions from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, August 7th. Finally, Royal Bank Of Canada lowered their price objective on shares of Atlas Energy Solutions from $21.00 to $17.00 and set a “sector perform” rating for the company in a report on Wednesday, August 5th. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Atlas Energy Solutions currently has a consensus rating of “Hold” and a consensus price target of $17.22.

Atlas Energy Solutions Stock Up 3.2%

AESI opened at $12.03 on Monday. The stock has a market cap of $1.50 billion, a PE ratio of -12.66 and a beta of 1.17. The company has a quick ratio of 1.58, a current ratio of 1.82 and a debt-to-equity ratio of 0.87. Atlas Energy Solutions has a 52 week low of $7.64 and a 52 week high of $20.13. The business’s fifty day simple moving average is $12.36 and its 200 day simple moving average is $14.43.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly earnings results on Monday, August 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.05). Atlas Energy Solutions had a negative return on equity of 9.57% and a negative net margin of 11.08%.The firm had revenue of $293.18 million for the quarter, compared to the consensus estimate of $282.24 million. During the same period last year, the firm earned ($0.04) EPS. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, research analysts expect that Atlas Energy Solutions will post -0.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Atlas Energy Solutions

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Tidal Investments LLC lifted its position in Atlas Energy Solutions by 56.3% in the second quarter. Tidal Investments LLC now owns 152,010 shares of the company’s stock valued at $2,525,000 after purchasing an additional 54,731 shares during the last quarter. AXQ Capital LP grew its holdings in shares of Atlas Energy Solutions by 349.6% in the second quarter. AXQ Capital LP now owns 53,340 shares of the company’s stock worth $886,000 after purchasing an additional 41,475 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Atlas Energy Solutions in the second quarter worth approximately $278,000. Citizens Financial Group Inc. RI purchased a new position in shares of Atlas Energy Solutions in the second quarter worth $379,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Atlas Energy Solutions in the second quarter worth $7,765,000. Institutional investors own 34.59% of the company’s stock.

About Atlas Energy Solutions

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.