Atlas Energy Solutions (NYSE:AESI) Given Neutral Rating at Bank of America

Atlas Energy Solutions (NYSE:AESI)‘s stock had its “neutral” rating reissued by stock analysts at Bank of America in a note issued to investors on Monday, MarketBeat Ratings reports. They presently have a $22.50 target price on the stock. Bank of America‘s target price indicates a potential upside of 3.31% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $25.00 price objective on shares of Atlas Energy Solutions in a research report on Wednesday, October 30th. The Goldman Sachs Group started 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 for the company. Citigroup downgraded Atlas Energy Solutions from a “buy” rating to a “neutral” rating and cut their price objective for the company from $23.00 to $22.00 in a report on Thursday, November 14th. Pickering Energy Partners cut Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 30th. Finally, Barclays downgraded Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $23.00 to $19.00 in a research report on Tuesday, November 12th. Six research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Atlas Energy Solutions currently has an average rating of “Moderate Buy” and a consensus price target of $24.50.

Atlas Energy Solutions Stock Down 0.7 %

Shares of AESI opened at $21.78 on Monday. The firm has a 50 day simple moving average of $22.15 and a two-hundred day simple moving average of $21.17. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.08. Atlas Energy Solutions has a one year low of $15.55 and a one year high of $24.93. The company has a market cap of $2.40 billion, a P/E ratio of 27.57, a P/E/G ratio of 11.53 and a beta of 1.03.

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

Insider Activity at Atlas Energy Solutions

In other Atlas Energy Solutions news, major shareholder Brian Anthony Leveille sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $20.70, for a total value of $207,000.00. Following the transaction, the insider now directly owns 482,010 shares of the company’s stock, valued at approximately $9,977,607. The trade was a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Gregory M. Shepard purchased 1,797 shares of the business’s stock in a transaction on Friday, October 18th. The shares were acquired at an average price of $19.65 per share, for a total transaction of $35,311.05. Following the completion of the acquisition, the insider now directly owns 7,507,194 shares in the company, valued at approximately $147,516,362.10. This represents a 0.02 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 60,869 shares of company stock worth $1,187,983 and have sold 119,642 shares worth $2,685,121. 24.34% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Quest Partners LLC bought a new position in Atlas Energy Solutions in the third quarter worth approximately $48,000. Amalgamated Bank lifted its holdings in shares of Atlas Energy Solutions by 328.1% in the 2nd quarter. Amalgamated Bank now owns 2,350 shares of the company’s stock worth $47,000 after purchasing an additional 1,801 shares in the last quarter. FMR LLC grew its position in Atlas Energy Solutions by 101.0% in the 3rd quarter. FMR LLC now owns 2,696 shares of the company’s stock valued at $59,000 after purchasing an additional 1,355 shares during the period. CWM LLC increased its stake in Atlas Energy Solutions by 47.1% during the 3rd quarter. CWM LLC now owns 2,766 shares of the company’s stock valued at $60,000 after purchasing an additional 886 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its holdings in Atlas Energy Solutions by 54.1% during the second quarter. DekaBank Deutsche Girozentrale now owns 5,297 shares of the company’s stock worth $107,000 after buying an additional 1,860 shares during the last quarter. Institutional investors and hedge funds own 34.59% of the company’s stock.

About Atlas Energy Solutions

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.