Atlas Energy Solutions (NYSE:AESI – Free Report) had its price objective raised by Barclays from $19.00 to $23.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.
Other equities analysts also recently issued research reports about the stock. Bank of America reissued a “neutral” rating and issued a $22.50 target price on shares of Atlas Energy Solutions in a report on Monday, January 13th. Pickering Energy Partners cut shares of Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research note on Wednesday, October 30th. Stephens raised their price objective on Atlas Energy Solutions from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Tuesday. Raymond James downgraded Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. Finally, Royal Bank of Canada raised their price target on Atlas Energy Solutions from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Tuesday. Six investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.50.
Read Our Latest Stock Analysis on Atlas Energy Solutions
Atlas Energy Solutions Stock Performance
Atlas Energy Solutions (NYSE:AESI – Get Free Report) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.04 earnings per share 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 firm had revenue of $304.40 million for the quarter, compared to analysts’ expectations of $307.93 million. During the same period in the prior year, the firm earned $0.51 EPS. Atlas Energy Solutions’s revenue for the quarter was up 93.1% compared to the same quarter last year. On average, analysts expect that Atlas Energy Solutions will post 0.84 EPS for the current year.
Insider Activity
In related news, major shareholder Stacy Hock sold 8,571 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $21.12, for a total transaction of $181,019.52. Following the transaction, the insider now directly owns 926,175 shares of the company’s stock, valued at $19,560,816. This represents a 0.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Brian Anthony Leveille sold 20,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $21.39, for a total value of $427,800.00. Following the completion of the sale, the insider now owns 512,010 shares of the company’s stock, valued at approximately $10,951,893.90. This trade represents a 3.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 144,642 shares of company stock worth $3,299,671. Corporate insiders own 24.34% of the company’s stock.
Institutional Investors Weigh In On Atlas Energy Solutions
Several institutional investors and hedge funds have recently made changes to their positions in AESI. Stifel Financial Corp increased its holdings in Atlas Energy Solutions by 28.6% in the 3rd quarter. Stifel Financial Corp now owns 126,667 shares of the company’s stock worth $2,761,000 after buying an additional 28,158 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Atlas Energy Solutions by 5.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 518,569 shares of the company’s stock valued at $11,305,000 after acquiring an additional 25,999 shares during the last quarter. Ashford Capital Management Inc. increased its stake in shares of Atlas Energy Solutions by 27.9% in 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. Principal Financial Group Inc. purchased a new position in shares of Atlas Energy Solutions during the third quarter worth $844,000. Finally, State Street Corp lifted its position in Atlas Energy Solutions by 15.0% during the third quarter. State Street Corp now owns 1,751,059 shares of the company’s stock valued at $38,173,000 after purchasing an additional 227,776 shares during the period. 34.59% of the stock is currently owned by institutional investors and hedge funds.
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.
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