Atlas Energy Solutions (NYSE:AESI) Given New $28.00 Price Target at Royal Bank of Canada

Atlas Energy Solutions (NYSE:AESI - Free Report) had its price objective raised by Royal Bank of Canada from $27.00 to $28.00 in a report published on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also recently weighed in on the company. Raymond James cut Atlas Energy Solutions from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 6th. Pickering Energy Partners cut Atlas Energy Solutions from an "outperform" rating to a "neutral" rating in a research report on Wednesday, October 30th. Barclays downgraded shares of Atlas Energy Solutions from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $23.00 to $19.00 in a research note on Tuesday, November 12th. Citigroup cut shares of Atlas Energy Solutions from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $23.00 to $22.00 in a research note on Thursday, November 14th. Finally, The Goldman Sachs Group began coverage on shares of Atlas Energy Solutions in a report on Friday, December 13th. They set a "neutral" rating and a $23.00 price objective for the company. 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. According to MarketBeat, Atlas Energy Solutions has a consensus rating of "Moderate Buy" and a consensus target price of $25.50.

Atlas Energy Solutions Stock Down 8.3 %

AESI stock traded down $2.07 during trading hours on Tuesday, hitting $22.96. The company's stock had a trading volume of 6,746,285 shares, compared to its average volume of 1,351,731. The stock has a 50 day moving average price of $23.04 and a two-hundred day moving average price of $21.53. Atlas Energy Solutions has a 12 month low of $16.42 and a 12 month high of $26.86. The company has a market capitalization of $2.53 billion, a PE ratio of 29.06, a price-to-earnings-growth ratio of 7.36 and a beta of 1.03. 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 (NYSE:AESI - Get Free Report) last posted its 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). The company had revenue of $304.40 million for the quarter, compared to the consensus estimate of $307.93 million. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. Atlas Energy Solutions's quarterly revenue was up 93.1% on a year-over-year basis. During the same quarter last year, the business earned $0.51 earnings per share. On average, equities research analysts expect that Atlas Energy Solutions will post 0.83 earnings per share for the current year.

Insider Buying and Selling

In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 8,571 shares of the firm's stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $21.12, for a total value of $181,019.52. Following the transaction, the insider now directly owns 926,175 shares of the company's stock, valued at approximately $19,560,816. This trade represents a 0.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Brian Anthony Leveille sold 12,500 shares of the company's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $24.46, for a total transaction of $305,750.00. Following the sale, the insider now owns 362,010 shares of the company's stock, valued at $8,854,764.60. The trade was a 3.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 144,642 shares of company stock worth $3,299,671 in the last three months. Insiders own 24.34% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Quest Partners LLC bought a new position in shares of Atlas Energy Solutions in the third quarter valued at $48,000. Amalgamated Bank boosted its stake in shares of 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 acquiring an additional 1,801 shares during the period. FMR LLC increased its holdings in shares of Atlas Energy Solutions by 101.0% during the 3rd quarter. FMR LLC now owns 2,696 shares of the company's stock worth $59,000 after acquiring an additional 1,355 shares during the last quarter. CWM LLC raised its stake in Atlas Energy Solutions by 47.1% in the 3rd quarter. CWM LLC now owns 2,766 shares of the company's stock valued at $60,000 after acquiring an additional 886 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Atlas Energy Solutions by 55.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,745 shares of the company's stock valued at $125,000 after purchasing an additional 2,043 shares during the last quarter. 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.