Royal Bank of Canada Reiterates "Outperform" Rating for Atlas Energy Solutions (NYSE:AESI)

Atlas Energy Solutions (NYSE:AESI - Get Free Report)'s stock had its "outperform" rating reaffirmed by research analysts at Royal Bank of Canada in a research report issued on Wednesday,Benzinga reports. They presently have a $25.00 price objective on the stock. Royal Bank of Canada's target price would suggest a potential upside of 81.24% from the company's previous close.

Several other brokerages also recently weighed in on AESI. Barclays lowered their target price on shares of Atlas Energy Solutions from $23.00 to $19.00 and set an "equal weight" rating for the company in a research note on Monday, March 3rd. Benchmark lowered their price objective on Atlas Energy Solutions from $28.00 to $25.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Piper Sandler initiated coverage on Atlas Energy Solutions in a research report on Wednesday, March 12th. They set an "overweight" rating and a $22.00 target price on the stock. Raymond James downgraded Atlas Energy Solutions from a "strong-buy" rating to a "hold" rating in a report on Monday, January 6th. Finally, Stephens upped their price objective on shares of Atlas Energy Solutions from $28.00 to $29.00 and gave the company an "overweight" rating in a report on Tuesday, January 28th. Six investment 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's stock. Based on data from MarketBeat.com, Atlas Energy Solutions has a consensus rating of "Moderate Buy" and an average price target of $23.83.

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Atlas Energy Solutions Stock Down 12.8 %

Shares of AESI traded down $2.02 during trading hours on Wednesday, hitting $13.79. The company had a trading volume of 3,142,641 shares, compared to its average volume of 1,179,412. The company has a current ratio of 1.23, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $1.68 billion, a PE ratio of 17.46 and a beta of 1.20. Atlas Energy Solutions has a one year low of $13.14 and a one year high of $26.86. The company's fifty day moving average price is $19.76 and its two-hundred day moving average price is $21.18.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last announced its earnings results on Monday, February 24th. The company reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.12). Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The firm had revenue of $271.34 million during the quarter, compared to the consensus estimate of $272.94 million. As a group, equities analysts forecast that Atlas Energy Solutions will post 0.83 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Gregory M. Shepard bought 32,155 shares of the stock in a transaction dated Thursday, February 27th. The shares were purchased at an average price of $19.04 per share, for a total transaction of $612,231.20. Following the completion of the purchase, the insider now directly owns 7,651,210 shares of the company's stock, valued at $145,679,038.40. This represents a 0.42 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Stacy Hock sold 10,000 shares of the firm's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $21.96, for a total value of $219,600.00. Following the sale, the insider now directly owns 907,604 shares in the company, valued at approximately $19,930,983.84. This trade represents a 1.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,000 shares of company stock valued at $1,049,750 in the last ninety days. Insiders own 24.34% of the company's stock.

Hedge Funds Weigh In On Atlas Energy Solutions

Several large investors have recently made changes to their positions in AESI. Intech Investment Management LLC purchased a new position in Atlas Energy Solutions in the third quarter valued at $323,000. Charles Schwab Investment Management Inc. grew its position in shares of Atlas Energy Solutions by 5.3% during 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 period. FMR LLC increased its stake in shares of 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 in the last quarter. BNP Paribas Financial Markets raised its holdings in Atlas Energy Solutions by 69.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 34,438 shares of the company's stock worth $751,000 after purchasing an additional 14,093 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Atlas Energy Solutions by 55.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,745 shares of the company's stock worth $125,000 after purchasing an additional 2,043 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.