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

Piper Sandler initiated coverage on shares of Atlas Energy Solutions (NYSE:AESI - Get Free Report) in a report released on Wednesday, MarketBeat.com reports. The brokerage set an "overweight" rating and a $22.00 price target on the stock. Piper Sandler's target price indicates a potential upside of 25.39% from the stock's current price.

A number of other brokerages have also commented on AESI. Bank of America reissued a "neutral" rating and set a $22.50 price objective on shares of Atlas Energy Solutions in a report on Monday, January 13th. Stephens upped their price objective on shares of Atlas Energy Solutions from $28.00 to $29.00 and gave the stock an "overweight" rating in a report on Tuesday, January 28th. Barclays lowered their target price on shares of 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. Citigroup cut shares of Atlas Energy Solutions from a "buy" rating to a "neutral" rating and decreased their price target for the company from $23.00 to $22.00 in a report on Thursday, November 14th. Finally, Benchmark dropped their price target on Atlas Energy Solutions from $28.00 to $25.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Six 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. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $23.83.

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Atlas Energy Solutions Price Performance

NYSE AESI opened at $17.55 on Wednesday. Atlas Energy Solutions has a 1 year low of $16.98 and a 1 year high of $26.86. The business's fifty day moving average is $21.80 and its two-hundred day moving average is $21.59. The stock has a market capitalization of $2.14 billion, a P/E ratio of 22.21 and a beta of 1.18. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.23.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last issued its 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). Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The business had revenue of $271.34 million during the quarter, compared to analyst estimates of $272.94 million. On average, research analysts forecast that Atlas Energy Solutions will post 0.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Brian Anthony Leveille sold 5,000 shares of Atlas Energy Solutions stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $23.17, for a total transaction of $115,850.00. Following the completion of the transaction, the insider now owns 409,510 shares in the company, valued at approximately $9,488,346.70. This trade represents a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Gregory M. Shepard purchased 32,155 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average price of $19.04 per share, for a total transaction of $612,231.20. Following the purchase, the insider now owns 7,651,210 shares in the company, valued at $145,679,038.40. This trade represents a 0.42 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 63,571 shares of company stock worth $1,473,876. Company insiders own 24.34% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Quarry LP acquired a new position in shares of Atlas Energy Solutions in the fourth quarter valued at about $27,000. CBIZ Investment Advisory Services LLC grew its position in shares of Atlas Energy Solutions by 62.9% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 1,354 shares of the company's stock worth $30,000 after purchasing an additional 523 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Atlas Energy Solutions by 307.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,387 shares of the company's stock worth $31,000 after purchasing an additional 1,047 shares during the period. Global Retirement Partners LLC lifted its position in shares of Atlas Energy Solutions by 191.9% during the 4th quarter. Global Retirement Partners LLC now owns 1,941 shares of the company's stock valued at $43,000 after acquiring an additional 1,276 shares during the period. Finally, Quest Partners LLC bought a new position in shares of Atlas Energy Solutions in the third quarter worth $48,000. Institutional investors 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.

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