Atlas Energy Solutions (NYSE:AESI) Downgraded by Raymond James to Hold

Atlas Energy Solutions (NYSE:AESI) was downgraded by equities researchers at Raymond James from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

A number of other equities research analysts have also issued reports on the company. Pickering Energy Partners lowered Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 30th. Barclays downgraded Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $23.00 to $19.00 in a report on Tuesday, November 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 target price on shares of Atlas Energy Solutions in a report on Wednesday, October 30th. The Goldman Sachs Group began coverage on shares of Atlas Energy Solutions in a report on Friday, December 13th. They set a “neutral” rating and a $23.00 price target on the stock. Finally, Citigroup lowered shares of Atlas Energy Solutions from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $23.00 to $22.00 in a research note on Thursday, November 14th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $24.67.

Atlas Energy Solutions Stock Up 0.7 %

Atlas Energy Solutions stock opened at $22.40 on Monday. Atlas Energy Solutions has a 52 week low of $15.55 and a 52 week high of $24.93. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 28.35, a PEG ratio of 11.53 and a beta of 1.03. The company’s 50-day moving average price is $22.01 and its two-hundred day moving average price is $21.13. The company has a current ratio of 1.23, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42.

Atlas Energy Solutions (NYSE:AESI) last issued its earnings results on Monday, October 28th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.25). The business had revenue of $304.40 million for the quarter, compared to the consensus estimate of $307.93 million. Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The company’s quarterly revenue was up 93.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.51 earnings per share. On average, analysts expect that Atlas Energy Solutions will post 0.88 EPS for the current fiscal year.

Insider Transactions at Atlas Energy Solutions

In other news, major shareholder Brian Anthony Leveille sold 10,000 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $20.50, for a total transaction of $205,000.00. Following the transaction, the insider now owns 542,010 shares of the company’s stock, valued at approximately $11,111,205. This represents a 1.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Gregory M. Shepard bought 1,797 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were bought at an average cost of $19.65 per share, with a total value of $35,311.05. Following the transaction, the insider now directly owns 7,507,194 shares of the company’s stock, valued at approximately $147,516,362.10. This trade represents a 0.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 60,869 shares of company stock worth $1,187,983 and have sold 129,642 shares worth $2,890,121. 24.34% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in shares of Atlas Energy Solutions by 324.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 194,494 shares of the company’s stock worth $4,240,000 after purchasing an additional 148,655 shares during the last quarter. Principal Financial Group Inc. bought a new stake in shares of Atlas Energy Solutions in the third quarter valued at approximately $844,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Atlas Energy Solutions in the third quarter worth $298,000. Ashford Capital Management Inc. increased its position in Atlas Energy Solutions by 27.9% during the third quarter. Ashford Capital Management Inc. now owns 586,000 shares of the company’s stock worth $12,775,000 after acquiring an additional 127,910 shares during the period. Finally, Geode Capital Management LLC increased its position in Atlas Energy Solutions by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,448,340 shares of the company’s stock worth $31,579,000 after acquiring an additional 54,321 shares during the period. Institutional investors and hedge funds own 34.59% of the company’s stock.

Atlas Energy Solutions Company Profile

Atlas Energy Solutions Inc engages in the production, processing, and sale of mesh and sand that are used as a proppant during the well completion process in the Permian Basin of Texas and New Mexico. The company provides transportation and logistics, storage solutions, and contract labor services. It sells its products and services to oil and natural gas exploration and production companies, and oilfield services companies.