Atlas Energy Solutions (NYSE:AESI) Rating Lowered to Strong Sell at Zacks Research

Atlas Energy Solutions (NYSE:AESI) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday, Zacks reports.

AESI has been the topic of several other research reports. The Goldman Sachs Group set a $12.00 price target on Atlas Energy Solutions in a research note on Friday, August 7th. Stephens reduced their price objective on Atlas Energy Solutions from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Monday, October 5th. Royal Bank Of Canada reduced their price objective on Atlas Energy Solutions from $21.00 to $17.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 5th. Citigroup decreased 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. Finally, Scotiabank began coverage on Atlas Energy Solutions in a report on Tuesday, September 29th. They set a “sector outperform” rating and a $14.00 price objective for the company. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $17.56.

Atlas Energy Solutions Trading Up 0.2%

Shares of NYSE:AESI opened at $9.39 on Tuesday. Atlas Energy Solutions has a 12 month low of $7.64 and a 12 month high of $20.13. The company has a quick ratio of 1.58, a current ratio of 1.82 and a debt-to-equity ratio of 0.87. The company’s fifty day simple moving average is $12.37 and its 200 day simple moving average is $14.22. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -9.88 and a beta of 1.19.

Atlas Energy Solutions (NYSE:AESI) last posted its quarterly earnings data on Monday, August 3rd. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.05). The company had revenue of $293.18 million during the quarter, compared to the consensus estimate 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 company’s revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.04) earnings per share. As a group, research analysts forecast that Atlas Energy Solutions will post -0.95 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AESI. Central Pacific Bank Trust Division increased its stake in Atlas Energy Solutions by 19.9% in the 3rd quarter. Central Pacific Bank Trust Division now owns 30,472 shares of the company’s stock valued at $366,000 after buying an additional 5,067 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of Atlas Energy Solutions by 56.3% in the 2nd quarter. Tidal Investments LLC now owns 152,010 shares of the company’s stock valued at $2,525,000 after acquiring an additional 54,731 shares in the last quarter. AXQ Capital LP increased its position 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 valued at $886,000 after acquiring an additional 41,475 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Atlas Energy Solutions in the second quarter valued at about $278,000. Finally, Citizens Financial Group Inc. RI bought a new stake in Atlas Energy Solutions during the second quarter worth about $379,000. Institutional investors own 34.59% of the company’s stock.

Atlas Energy Solutions Company Profile

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.