Atlas Energy Solutions (NYSE:AESI) Downgraded by Barclays to "Equal Weight"

Atlas Energy Solutions (NYSE:AESI - Get Free Report) was downgraded by investment analysts at Barclays from an "overweight" rating to an "equal weight" rating in a research note issued on Tuesday, MarketBeat reports. They currently have a $19.00 target price on the stock, down from their prior target price of $23.00. Barclays's target price indicates a potential downside of 10.63% from the company's current price.

A number of other analysts have also commented on AESI. Stephens reiterated an "overweight" rating and issued a $28.00 price target on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. Bank of America decreased their target price on shares of Atlas Energy Solutions from $25.00 to $24.00 and set a "buy" rating for the company in a research note on Monday, July 15th. Royal Bank of Canada restated an "outperform" rating and issued a $25.00 price target on shares of Atlas Energy Solutions in a research note on Wednesday, October 30th. Pickering Energy Partners cut Atlas Energy Solutions from an "outperform" rating to a "neutral" rating in a research report on Wednesday, October 30th. Finally, Piper Sandler dropped their target price on Atlas Energy Solutions from $29.00 to $27.00 and set an "overweight" rating on the stock in a research report on Monday, July 15th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Atlas Energy Solutions presently has an average rating of "Moderate Buy" and an average price target of $24.75.

Atlas Energy Solutions Stock Down 3.4 %

NYSE:AESI traded down $0.75 during trading hours on Tuesday, reaching $21.26. 390,289 shares of the company traded hands, compared to its average volume of 892,240. Atlas Energy Solutions has a 1 year low of $15.55 and a 1 year high of $24.93. The stock has a market capitalization of $2.34 billion, a P/E ratio of 27.86, a P/E/G ratio of 11.42 and a beta of 0.69. The business's 50-day moving average price is $20.90 and its two-hundred day moving average price is $21.11. The company has a current ratio of 1.23, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last posted 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 return on equity of 11.01% and a net margin of 8.78%. The company had revenue of $304.40 million during 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. Analysts predict that Atlas Energy Solutions will post 0.8 earnings per share for the current year.

Insider Buying and Selling at Atlas Energy Solutions

In related news, major shareholder Stacy Hock sold 8,571 shares of the company's stock in a transaction on Monday, August 19th. The shares were sold at an average price of $20.22, for a total value of $173,305.62. Following the completion of the transaction, the insider now owns 951,888 shares of the company's stock, valued at approximately $19,247,175.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, major shareholder Gregory M. Shepard acquired 1,797 shares of Atlas Energy Solutions stock in a transaction dated Friday, October 18th. The shares were purchased at an average price of $19.65 per share, for a total transaction of $35,311.05. Following the completion of the transaction, the insider now directly owns 7,507,194 shares in the company, valued at approximately $147,516,362.10. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Stacy Hock sold 8,571 shares of the company's stock in a transaction on Monday, August 19th. The stock was sold at an average price of $20.22, for a total transaction of $173,305.62. Following the transaction, the insider now owns 951,888 shares of the company's stock, valued at approximately $19,247,175.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 60,869 shares of company stock valued at $1,187,983 and have sold 65,713 shares valued at $1,367,117. Insiders own 24.34% of the company's stock.

Institutional Trading of Atlas Energy Solutions

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. First Horizon Advisors Inc. increased its position in shares of Atlas Energy Solutions by 313.7% during the second quarter. First Horizon Advisors Inc. now owns 1,725 shares of the company's stock worth $34,000 after acquiring an additional 1,308 shares during the period. Amalgamated Bank increased its holdings in Atlas Energy Solutions by 328.1% during 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 during the period. Quest Partners LLC bought a new stake in Atlas Energy Solutions during the 3rd quarter valued at $48,000. CWM LLC grew its position in shares of Atlas Energy Solutions by 47.1% during the 3rd quarter. CWM LLC now owns 2,766 shares of the company's stock worth $60,000 after buying an additional 886 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Atlas Energy Solutions during the second quarter valued at $74,000. 34.59% of the stock is currently owned by institutional investors.

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.