Atlas Energy Solutions (NYSE:AESI) Coverage Initiated at Piper Sandler

Equities research analysts at Piper Sandler assumed coverage on shares of Atlas Energy Solutions (NYSE:AESI) in a research report issued on Wednesday, Marketbeat Ratings reports. The brokerage set an “overweight” rating and a $22.00 price target on the stock. Piper Sandler’s price objective would indicate a potential upside of 25.39% from the stock’s current price.

Other research analysts have also issued research reports about the company. Citigroup lowered Atlas Energy Solutions from a “buy” rating to a “neutral” rating and cut their price target for the stock from $23.00 to $22.00 in a report on Thursday, November 14th. Benchmark lowered their target price on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Royal Bank of Canada cut their price target on Atlas Energy Solutions from $28.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Stephens increased their price objective on shares of Atlas Energy Solutions from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Finally, Barclays lowered their target price on Atlas Energy Solutions from $23.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. Six equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.83.

Atlas Energy Solutions Stock Performance

NYSE AESI opened at $17.55 on Wednesday. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 22.21 and a beta of 1.18. The company has a quick ratio of 1.08, a current ratio of 1.23 and a debt-to-equity ratio of 0.42. Atlas Energy Solutions has a twelve month low of $16.98 and a twelve month high of $26.86. The stock has a fifty day simple moving average of $21.80 and a 200 day simple moving average of $21.59.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly earnings results on Monday, February 24th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.12). The business had revenue of $271.34 million for the quarter, compared to analyst estimates of $272.94 million. Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. Sell-side analysts expect that Atlas Energy Solutions will post 0.83 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Brian Anthony Leveille sold 5,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $23.17, for a total value of $115,850.00. Following the sale, the insider now directly owns 409,510 shares of the company’s stock, valued at approximately $9,488,346.70. This represents a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Gregory M. Shepard purchased 32,155 shares of the stock in a transaction dated Thursday, February 27th. The stock was bought at an average cost of $19.04 per share, with a total value of $612,231.20. Following the transaction, the insider now owns 7,651,210 shares in the company, valued at $145,679,038.40. The trade was a 0.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 63,571 shares of company stock worth $1,473,876 in the last three months. 24.34% of the stock is owned by corporate insiders.

Institutional Trading of Atlas Energy Solutions

Institutional investors and hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. bought a new stake in Atlas Energy Solutions in the 3rd quarter worth about $844,000. Quest Partners LLC bought a new stake in shares of Atlas Energy Solutions in the third quarter worth approximately $48,000. Intech Investment Management LLC purchased a new position in shares of Atlas Energy Solutions during the third quarter valued at approximately $323,000. Charles Schwab Investment Management Inc. lifted its position in Atlas Energy Solutions by 5.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 518,569 shares of the company’s stock valued at $11,305,000 after purchasing an additional 25,999 shares during the period. Finally, FMR LLC boosted its holdings in Atlas Energy Solutions by 101.0% in the third quarter. FMR LLC now owns 2,696 shares of the company’s stock worth $59,000 after purchasing an additional 1,355 shares during the last quarter. Institutional investors 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.