Atlas Energy Solutions (NYSE:AESI) Downgraded by Pickering Energy Partners to "Neutral"

Atlas Energy Solutions (NYSE:AESI - Get Free Report) was downgraded by equities researchers at Pickering Energy Partners from an "outperform" rating to a "neutral" rating in a research report issued on Wednesday, Marketbeat reports.

AESI has been the topic of several other research reports. Barclays cut their price objective on Atlas Energy Solutions from $26.00 to $23.00 and set an "overweight" rating on the stock in a report on Wednesday, October 16th. Stephens reaffirmed an "overweight" rating and issued a $28.00 price objective on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. Bank of America reduced their price objective on shares of Atlas Energy Solutions from $25.00 to $24.00 and set a "buy" rating for the company in a research report on Monday, July 15th. Royal Bank of Canada dropped their price objective on Atlas Energy Solutions from $26.00 to $25.00 and set an "outperform" rating on the stock in a research note on Friday, October 11th. Finally, Benchmark reissued a "buy" rating and issued a $27.00 price target on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Atlas Energy Solutions has a consensus rating of "Buy" and an average target price of $25.75.

Atlas Energy Solutions Trading Down 2.0 %

AESI stock traded down $0.40 during midday trading on Wednesday, reaching $19.97. The stock had a trading volume of 420,009 shares, compared to its average volume of 883,810. The business has a fifty day simple moving average of $21.00 and a two-hundred day simple moving average of $21.24. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of 25.91, a PEG ratio of 6.47 and a beta of 0.56. Atlas Energy Solutions has a twelve month low of $15.55 and a twelve month high of $24.93. The company has a quick ratio of 1.35, a current ratio of 1.53 and a debt-to-equity ratio of 0.42.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.25). Atlas Energy Solutions had a return on equity of 16.75% and a net margin of 13.71%. The business had revenue of $304.40 million for the quarter, compared to the consensus estimate of $307.93 million. During the same period last year, the firm earned $0.51 earnings per share. The company's quarterly revenue was up 93.1% compared to the same quarter last year. As a group, research analysts expect that Atlas Energy Solutions will post 1.48 EPS for the current fiscal year.

Insider Buying and Selling

In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 8,571 shares of the company's stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $19.44, for a total value of $166,620.24. Following the completion of the sale, the insider now directly owns 943,317 shares in the company, valued at approximately $18,338,082.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Stacy Hock sold 8,571 shares of the firm's stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $19.44, for a total transaction of $166,620.24. Following the completion of the transaction, the insider now owns 943,317 shares of the company's stock, valued at $18,338,082.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Brian Anthony Leveille sold 10,000 shares of the business's stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $20.50, for a total value of $205,000.00. Following the completion of the transaction, the insider now directly owns 542,010 shares of the company's stock, valued at $11,111,205. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 33,159 shares of company stock valued at $650,776 and have sold 35,713 shares valued at $729,117. 24.34% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. First Horizon Advisors Inc. raised its holdings in shares of Atlas Energy Solutions by 313.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,725 shares of the company's stock valued at $34,000 after buying an additional 1,308 shares during the period. Amalgamated Bank boosted its position in Atlas Energy Solutions by 328.1% in the 2nd quarter. Amalgamated Bank now owns 2,350 shares of the company's stock valued at $47,000 after buying an additional 1,801 shares during the period. CWM LLC raised its stake in shares of Atlas Energy Solutions by 47.1% in the third quarter. CWM LLC now owns 2,766 shares of the company's stock valued at $60,000 after acquiring an additional 886 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Atlas Energy Solutions during the 2nd quarter worth about $74,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Atlas Energy Solutions in the 1st quarter valued at about $78,000. Hedge funds and other 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.