Atlas Energy Solutions (NYSE:AESI) Cut to “Neutral” at Citigroup

Atlas Energy Solutions (NYSE:AESI) was downgraded by equities researchers at Citigroup from a “buy” rating to a “neutral” rating in a research report issued on Thursday, MarketBeat.com reports. They presently have a $22.00 price target on the stock, down from their previous price target of $23.00. Citigroup’s price objective suggests a potential upside of 10.28% from the company’s previous close.

A number of other research analysts also recently issued reports on AESI. Barclays downgraded Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $23.00 to $19.00 in a report on Tuesday. Royal Bank of Canada restated an “outperform” rating and set a $25.00 target price on shares of Atlas Energy Solutions in a research note on Wednesday, October 30th. 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. Pickering Energy Partners cut shares of Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 30th. Finally, Benchmark restated a “buy” rating and issued a $27.00 target price on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $24.44.

Atlas Energy Solutions Stock Performance

Shares of AESI stock opened at $19.95 on Thursday. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of 25.25, a price-to-earnings-growth ratio of 11.68 and a beta of 0.69. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.23. Atlas Energy Solutions has a one year low of $15.55 and a one year high of $24.93. The company’s 50-day moving average is $20.94 and its 200 day moving average is $21.07.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.25). The firm had revenue of $304.40 million during the quarter, compared to analysts’ expectations of $307.93 million. Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. Atlas Energy Solutions’s revenue was up 93.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.51 earnings per share. Sell-side analysts expect that Atlas Energy Solutions will post 0.8 EPS for the current fiscal year.

Insider Activity at Atlas Energy Solutions

In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 8,571 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $21.49, for a total value of $184,190.79. Following the completion of the transaction, the insider now directly owns 934,746 shares in the company, valued at $20,087,691.54. This represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Gregory M. Shepard acquired 1,797 shares of Atlas Energy Solutions stock in a transaction dated Friday, October 18th. The stock was purchased at an average cost of $19.65 per share, with a total value of $35,311.05. Following the completion of the purchase, the insider now owns 7,507,194 shares of the company’s stock, valued at approximately $147,516,362.10. This represents a 0.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 60,869 shares of company stock worth $1,187,983 and have sold 74,284 shares worth $1,548,136. 24.34% of the stock is owned by company insiders.

Institutional Investors Weigh In On Atlas Energy Solutions

A number of institutional investors and hedge funds have recently bought and sold shares of AESI. First Horizon Advisors Inc. grew its stake in Atlas Energy Solutions by 313.7% during the second quarter. First Horizon Advisors Inc. now owns 1,725 shares of the company’s stock valued at $34,000 after acquiring an additional 1,308 shares in the last quarter. Amalgamated Bank boosted its holdings 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 valued at $47,000 after purchasing an additional 1,801 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Atlas Energy Solutions during the third quarter valued at about $48,000. FMR LLC increased its holdings in shares of Atlas Energy Solutions by 101.0% in the third quarter. FMR LLC now owns 2,696 shares of the company’s stock worth $59,000 after purchasing an additional 1,355 shares during the last quarter. Finally, CWM LLC lifted its position 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 worth $60,000 after buying an additional 886 shares in the last quarter. 34.59% of the stock is owned by institutional investors.

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.