Atlas Energy Solutions (NYSE:AESI) Price Target Raised to $18.00

Atlas Energy Solutions (NYSE:AESI) had its price target increased by Scotiabank from $17.00 to $18.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a sector outperform rating on the stock.

Other research analysts have also recently issued reports about the stock. Stifel Nicolaus decreased their price objective 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. Piper Sandler lowered their price target on Atlas Energy Solutions from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday. Citigroup dropped their price target on Atlas Energy Solutions from $21.00 to $17.00 and set a “buy” rating on the stock in a research note on Thursday, September 3rd. Weiss Ratings lowered Atlas Energy Solutions from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, August 7th. Finally, Glj Research started coverage on Atlas Energy Solutions in a research report on Wednesday, October 28th. They set a “buy” rating and a $13.00 price objective for the company. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $16.90.

Atlas Energy Solutions Stock Up 0.7%

NYSE:AESI traded up $0.04 during trading hours on Wednesday, reaching $5.36. 6,596,395 shares of the company traded hands, compared to its average volume of 3,690,576. The stock has a market capitalization of $669.62 million, a P/E ratio of -4.78 and a beta of 1.29. The business’s 50-day moving average price is $11.29 and its two-hundred day moving average price is $13.26. Atlas Energy Solutions has a 1 year low of $5.12 and a 1 year high of $20.13. The company has a current ratio of 1.82, a quick ratio of 1.58 and a debt-to-equity ratio of 0.87.

Atlas Energy Solutions (NYSE:AESI) last posted its quarterly 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). The business had revenue of $267.78 million during the quarter, compared to analysts’ expectations of $265.32 million. Atlas Energy Solutions had a negative return on equity of 12.15% and a negative net margin of 12.98%. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.19) EPS. Analysts predict that Atlas Energy Solutions will post -0.95 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Encompass Capital Advisors LLC bought a new stake in shares of Atlas Energy Solutions during the 1st quarter valued at $119,854,000. Wasatch Advisors LP purchased a new stake in shares of Atlas Energy Solutions in the 2nd quarter worth $30,468,000. Dimensional Fund Advisors LP increased its stake in shares of 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. CenterBook Partners LP raised its holdings in Atlas Energy Solutions by 84.8% in the 3rd quarter. CenterBook Partners LP now owns 1,180,943 shares of the company’s stock worth $14,183,000 after purchasing an additional 541,774 shares during the period. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in Atlas Energy Solutions in the 3rd quarter worth $9,992,000. Hedge funds and other institutional investors own 34.59% of the company’s stock.

About Atlas Energy Solutions

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.