Atlas Energy Solutions (NYSE:AESI) Reaches New 12-Month High After Analyst Upgrade

Atlas Energy Solutions Inc. (NYSE:AESIGet Free Report)’s share price reached a new 52-week high on Tuesday after Stephens raised their price target on the stock from $28.00 to $29.00. Stephens currently has an overweight 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. The stock had previously closed at $24.69.

A number of other equities analysts also recently issued reports on AESI. Bank of America reaffirmed a “neutral” rating and set a $22.50 price target on shares of Atlas Energy Solutions in a research report on Monday, January 13th. Barclays downgraded Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $23.00 to $19.00 in a report on Tuesday, November 12th. The Goldman Sachs Group initiated 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 on the stock. Citigroup cut shares of Atlas Energy Solutions from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $23.00 to $22.00 in a research note on Thursday, November 14th. Finally, Royal Bank of Canada upped their price target on shares of Atlas Energy Solutions from $27.00 to $28.00 and gave the company an “outperform” rating in a research note on Tuesday. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.94.

View Our Latest Research Report on Atlas Energy Solutions

Insiders Place Their Bets

In other news, major shareholder Gregory M. Shepard purchased 13,363 shares of the stock in a transaction dated Monday, November 4th. The shares were purchased at an average cost of $19.19 per share, with a total value of $256,435.97. Following the completion of the purchase, the insider now directly owns 7,619,055 shares of the company’s stock, valued at approximately $146,209,665.45. The trade was a 0.18 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Brian Anthony Leveille sold 20,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $21.39, for a total transaction of $427,800.00. Following the sale, the insider now directly owns 512,010 shares of the company’s stock, valued at $10,951,893.90. The trade was a 3.76 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 132,142 shares of company stock valued at $2,993,921. Company insiders own 24.34% of the company’s stock.

Hedge Funds Weigh In On Atlas Energy Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. boosted its holdings in Atlas Energy Solutions by 127.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 249,826 shares of the company’s stock valued at $4,979,000 after purchasing an additional 140,110 shares during the last quarter. Dimensional Fund Advisors LP purchased a new stake in Atlas Energy Solutions in the 2nd quarter valued at about $280,000. Amalgamated Bank lifted its position in Atlas Energy Solutions by 328.1% in the second 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 last quarter. Sei Investments Co. raised its stake in shares of Atlas Energy Solutions by 80.8% in the 2nd quarter. Sei Investments Co. now owns 159,332 shares of the company’s stock valued at $3,177,000 after acquiring an additional 71,226 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Atlas Energy Solutions by 168.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,677 shares of the company’s stock worth $811,000 after acquiring an additional 25,540 shares during the last quarter. Institutional investors and hedge funds own 34.59% of the company’s stock.

Atlas Energy Solutions Price Performance

The stock has a market cap of $2.75 billion, a PE ratio of 31.62, a PEG ratio of 6.98 and a beta of 1.03. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.23. The stock’s 50-day moving average is $22.90 and its two-hundred day moving average is $21.48.

Atlas Energy Solutions (NYSE:AESIGet Free Report) last issued 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 analyst estimates of $307.93 million. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The company’s quarterly revenue was up 93.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.51 earnings per share. On average, equities analysts predict that Atlas Energy Solutions Inc. will post 0.84 earnings per share for the current year.

About Atlas Energy Solutions

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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.

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