Stephens Cuts Atlas Energy Solutions (NYSE:AESI) Price Target to $20.00

Atlas Energy Solutions (NYSE:AESI) had its price target trimmed by Stephens from $22.00 to $20.00 in a research report report published on Monday, Marketbeat reports. The brokerage currently has an overweight rating on the stock.

A number of other research analysts have also recently issued reports on the stock. Stifel Nicolaus decreased their price target on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Barclays raised Atlas Energy Solutions from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $10.00 to $14.00 in a research report on Monday, September 28th. Weiss Ratings cut Atlas Energy Solutions from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, August 7th. Piper Sandler dropped their price target 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. Finally, The Goldman Sachs Group set a $12.00 price objective on Atlas Energy Solutions in a report on Friday, August 7th. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $17.67.

Atlas Energy Solutions Price Performance

Shares of NYSE AESI opened at $12.49 on Monday. Atlas Energy Solutions has a fifty-two week low of $7.64 and a fifty-two week high of $20.13. The company has a market cap of $1.56 billion, a PE ratio of -13.15 and a beta of 1.19. 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 business has a 50-day simple moving average of $12.44 and a two-hundred day simple moving average of $14.38.

Atlas Energy Solutions (NYSE:AESI) last posted its quarterly earnings data 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). The company had revenue of $293.18 million for the quarter, compared to analyst estimates of $282.24 million. Atlas Energy Solutions had a negative net margin of 11.08% and a negative return on equity of 9.57%. The business’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.04) EPS. As a group, equities analysts expect that Atlas Energy Solutions will post -0.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its position in Atlas Energy Solutions by 12.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,502,480 shares of the company’s stock worth $19,713,000 after purchasing an additional 167,758 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Atlas Energy Solutions during the 2nd quarter valued at approximately $7,765,000. Encompass Capital Advisors LLC acquired a new position in shares of Atlas Energy Solutions in the 1st quarter valued at $119,854,000. Readystate Asset Management LP purchased a new stake in Atlas Energy Solutions during the first quarter worth $1,459,000. Finally, Assenagon Asset Management S.A. purchased a new stake in Atlas Energy Solutions during the second quarter worth $3,502,000. 34.59% of the stock is currently owned by institutional investors and hedge funds.

About Atlas Energy Solutions

Atlas Energy Solutions Inc (NYSE: AESI) is a provider of proppant and logistics services for the oil and natural gas industry. The company primarily serves exploration and production companies operating in the Permian Basin, one of the largest onshore oil-producing regions in the United States.

Atlas produces and supplies frac sand, a specialized proppant used in hydraulic fracturing to help keep fractures open and improve the flow of hydrocarbons from underground formations. Its operations include sand mining, processing, storage and distribution, with facilities located in or near the Permian Basin of West Texas.

The company also provides transportation and logistics solutions designed to move large volumes of proppant from its mines to well sites.