Royal Bank of Canada Reaffirms Outperform Rating for Atlas Energy Solutions (NYSE:AESI)

Atlas Energy Solutions (NYSE:AESI - Get Free Report)'s stock had its "outperform" rating restated by stock analysts at Royal Bank of Canada in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $25.00 price objective on the stock. Royal Bank of Canada's price target points to a potential upside of 26.14% from the company's previous close.

AESI has been the topic of a number of other reports. Bank of America dropped their price objective on shares of Atlas Energy Solutions from $25.00 to $24.00 and set a "buy" rating on the stock in a research report on Monday, July 15th. Barclays decreased their price target on Atlas Energy Solutions from $26.00 to $23.00 and set an "overweight" rating for the company in a report on Wednesday, October 16th. Benchmark reiterated a "buy" rating and issued a $27.00 price objective on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Stephens reissued an "overweight" rating and set a $28.00 target price on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. Finally, Piper Sandler lowered their price target on Atlas Energy Solutions from $29.00 to $27.00 and set an "overweight" rating for the company in a report on Monday, July 15th. One analyst has rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Atlas Energy Solutions presently has a consensus rating of "Buy" and an average target price of $25.75.

Atlas Energy Solutions Trading Down 2.7 %

Shares of AESI traded down $0.55 during midday trading on Wednesday, hitting $19.82. 730,135 shares of the stock were exchanged, compared to its average volume of 885,287. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.35 and a current ratio of 1.53. The firm has a market cap of $2.18 billion, a P/E ratio of 25.29, a P/E/G ratio of 6.47 and a beta of 0.56. Atlas Energy Solutions has a 52-week low of $15.55 and a 52-week high of $24.93. The stock has a fifty day simple moving average of $21.00 and a 200 day simple moving average of $21.24.

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

Insider Buying and Selling at Atlas Energy Solutions

In other news, major shareholder Stacy Hock sold 8,571 shares of the business's stock in a transaction that occurred 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 transaction, the insider now owns 943,317 shares of the company's stock, valued at approximately $18,338,082.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, major shareholder Brian Anthony Leveille sold 10,000 shares of the firm's stock in a transaction dated 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 sale, the insider now owns 542,010 shares in the company, valued at $11,111,205. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Stacy Hock sold 8,571 shares of the business's stock in a transaction that occurred 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 transaction, the insider now owns 943,317 shares in the company, valued at $18,338,082.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 33,159 shares of company stock worth $650,776 and have sold 35,713 shares worth $729,117. 24.34% of the stock is currently owned by company insiders.

Institutional Trading of Atlas Energy Solutions

Several hedge funds have recently modified their holdings of the business. Beck Capital Management LLC boosted its holdings in Atlas Energy Solutions by 0.6% during the second quarter. Beck Capital Management LLC now owns 130,588 shares of the company's stock worth $2,603,000 after buying an additional 749 shares in the last quarter. CWM LLC lifted 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 valued at $60,000 after acquiring an additional 886 shares during the period. Cetera Investment Advisers boosted its stake in shares of Atlas Energy Solutions by 1.0% during the 2nd quarter. Cetera Investment Advisers now owns 88,654 shares of the company's stock worth $1,767,000 after acquiring an additional 897 shares in the last quarter. First Horizon Advisors Inc. grew 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 worth $34,000 after acquiring an additional 1,308 shares during the period. Finally, Amalgamated Bank increased its stake 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 purchasing an additional 1,801 shares in the last quarter. 34.59% of the stock is owned by institutional investors and hedge funds.

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.