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

Investment analysts at Scotiabank assumed coverage on shares of Atlas Energy Solutions (NYSE:AESI) in a report issued on Tuesday, Marketbeat Ratings reports. The firm set a “sector outperform” rating and a $14.00 price target on the stock. Scotiabank’s target price suggests a potential upside of 14.33% from the company’s previous close.

Other analysts have also issued research reports about the company. Weiss Ratings lowered Atlas Energy Solutions from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, August 7th. Stifel Nicolaus reduced their price objective 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. Barclays upgraded shares of Atlas Energy Solutions from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $10.00 to $14.00 in a report on Monday. Raymond James Financial raised shares of Atlas Energy Solutions from a “market perform” rating to an “outperform” rating and set a $25.00 target price for the company in a research report on Tuesday, June 2nd. Finally, The Goldman Sachs Group set a $12.00 target price on shares of Atlas Energy Solutions in a research note on Friday, August 7th. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.22.

Atlas Energy Solutions Trading Down 1.8%

AESI opened at $12.24 on Tuesday. The business has a 50 day simple moving average of $12.46 and a two-hundred day simple moving average of $14.45. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of -12.89 and a beta of 1.17. 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 has a one year low of $7.64 and a one year high of $20.13.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly earnings data on Monday, August 3rd. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $293.18 million during the quarter, compared to the consensus estimate of $282.24 million. During the same quarter in the prior year, the business posted ($0.04) earnings per share. Atlas Energy Solutions’s quarterly revenue was up 1.6% compared to the same quarter last year. Analysts predict that Atlas Energy Solutions will post -0.94 EPS for the current year.

Hedge Funds Weigh In On Atlas Energy Solutions

Institutional investors and hedge funds have recently made changes to their positions in the business. Islay Capital Management LLC purchased a new position in shares of Atlas Energy Solutions during the fourth quarter valued at approximately $28,000. State of Wyoming bought a new stake in shares of Atlas Energy Solutions in the 1st quarter worth approximately $48,000. Abel Hall LLC purchased a new stake in shares of Atlas Energy Solutions in the 1st quarter worth approximately $131,000. AXQ Capital LP purchased a new stake in shares of Atlas Energy Solutions in the 4th quarter worth approximately $101,000. Finally, Headlands Technologies LLC bought a new position in Atlas Energy Solutions during the 2nd quarter valued at approximately $278,000. Institutional investors own 34.59% of the company’s stock.

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.