Atlas Energy Solutions (NYSE:AESI) Hits New 1-Year High After Analyst Upgrade

Atlas Energy Solutions Inc. (NYSE:AESI - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday after Barclays raised their price target on the stock from $19.00 to $23.00. Barclays currently has an equal weight rating on the stock. Atlas Energy Solutions traded as high as $26.86 and last traded at $25.90, with a volume of 499947 shares changing hands. The stock had previously closed at $24.69.

Other equities analysts have also issued research reports about the stock. Pickering Energy Partners lowered shares of Atlas Energy Solutions from an "outperform" rating to a "neutral" rating in a research report on Wednesday, October 30th. Royal Bank of Canada lifted their price target on shares of Atlas Energy Solutions from $27.00 to $28.00 and gave the stock an "outperform" rating in a research report on Tuesday. The Goldman Sachs Group began coverage on Atlas Energy Solutions in a research report on Friday, December 13th. They set a "neutral" rating and a $23.00 price objective for the company. Benchmark boosted their target price on Atlas Energy Solutions from $23.00 to $28.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Citigroup lowered 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 research report on Thursday, November 14th. Six investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Atlas Energy Solutions currently has an average rating of "Moderate Buy" and an average target price of $25.50.

Insider Activity at Atlas Energy Solutions

In other news, major shareholder Stacy Hock sold 8,571 shares of the company's stock in a transaction 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 represents a 0.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Brian Anthony Leveille sold 12,500 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $24.46, for a total value of $305,750.00. Following the sale, the insider now owns 362,010 shares of the company's stock, valued at approximately $8,854,764.60. This represents a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 144,642 shares of company stock valued at $3,299,671. Company insiders own 24.34% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of AESI. Wellington Management Group LLP bought a new stake in shares of Atlas Energy Solutions in the 3rd quarter valued at approximately $17,314,000. First Sabrepoint Capital Management LP acquired a new stake in Atlas Energy Solutions in the third quarter valued at approximately $8,066,000. Copeland Capital Management LLC lifted its stake in Atlas Energy Solutions by 19.3% in the fourth quarter. Copeland Capital Management LLC now owns 2,247,774 shares of the company's stock valued at $49,856,000 after acquiring an additional 363,742 shares during the last quarter. Principal Financial Group Inc. grew its position in Atlas Energy Solutions by 759.9% in the fourth quarter. Principal Financial Group Inc. now owns 332,916 shares of the company's stock worth $7,384,000 after acquiring an additional 294,201 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Atlas Energy Solutions by 15.0% during the 3rd quarter. State Street Corp now owns 1,751,059 shares of the company's stock worth $38,173,000 after purchasing an additional 227,776 shares during the last quarter. 34.59% of the stock is owned by institutional investors and hedge funds.

Atlas Energy Solutions Stock Down 8.3 %

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 business's fifty day moving average price is $23.04 and its two-hundred day moving average price is $21.53. The firm has a market cap of $2.53 billion, a P/E ratio of 29.06, a P/E/G ratio of 7.36 and a beta of 1.03.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last released 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 for the quarter, compared to the consensus estimate of $307.93 million. During the same quarter last year, the company posted $0.51 EPS. The business's revenue was up 93.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Atlas Energy Solutions Inc. will post 0.83 EPS for the current year.

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.