Atlas Energy Solutions (NYSE:AESI) Sets New 52-Week High Following Analyst Upgrade

Atlas Energy Solutions Inc. (NYSE:AESI) shares hit a new 52-week high on Tuesday after Benchmark raised their price target on the stock from $23.00 to $28.00. Benchmark currently has a buy 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 trading hands. The stock had previously closed at $24.69.

A number of other research firms have also weighed in on AESI. Raymond James lowered shares of Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. Royal Bank of Canada raised their price target on Atlas Energy Solutions from $27.00 to $28.00 and gave the stock an “outperform” rating in a research note on Tuesday. Stephens boosted their price objective on Atlas Energy Solutions from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Tuesday. Barclays lowered Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $23.00 to $19.00 in a research note on Tuesday, November 12th. Finally, Pickering Energy Partners lowered shares of Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research note on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $25.06.

Insider Buying and Selling at Atlas Energy Solutions

In other news, major shareholder Stacy Hock sold 8,571 shares of Atlas Energy Solutions stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $22.55, for a total value of $193,276.05. Following the transaction, the insider now owns 917,604 shares of the company’s stock, valued at $20,691,970.20. The trade was a 0.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Brian Anthony Leveille sold 12,500 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $24.46, for a total transaction of $305,750.00. Following the sale, the insider now directly owns 362,010 shares of the company’s stock, valued at $8,854,764.60. The trade was a 3.34 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 144,642 shares of company stock valued at $3,299,671. Company insiders own 24.34% of the company’s stock.

Hedge Funds Weigh In On Atlas Energy Solutions

A number of large investors have recently made changes to their positions in the business. Wellington Management Group LLP acquired a new stake in Atlas Energy Solutions in the 3rd quarter worth approximately $17,314,000. First Sabrepoint Capital Management LP purchased a new position in shares of Atlas Energy Solutions in the third quarter worth $8,066,000. Copeland Capital Management LLC lifted its stake in shares of Atlas Energy Solutions by 19.3% during the fourth quarter. Copeland Capital Management LLC now owns 2,247,774 shares of the company’s stock worth $49,856,000 after buying an additional 363,742 shares during the period. State Street Corp grew its holdings in shares of Atlas Energy Solutions by 15.0% during the third quarter. State Street Corp now owns 1,751,059 shares of the company’s stock valued at $38,173,000 after buying an additional 227,776 shares during the last quarter. Finally, Barclays PLC increased its position in shares of Atlas Energy Solutions by 574.5% in the 3rd quarter. Barclays PLC now owns 175,082 shares of the company’s stock valued at $3,817,000 after acquiring an additional 149,126 shares during the period. 34.59% of the stock is owned by institutional investors and hedge funds.

Atlas Energy Solutions Price Performance

The stock has a 50 day moving average of $22.97 and a 200-day moving average of $21.51. 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 company has a market cap of $2.76 billion, a PE ratio of 31.68, a price-to-earnings-growth ratio of 6.98 and a beta of 1.03.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings data 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). 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%. The company’s revenue for the quarter was up 93.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.51 earnings per share. Equities analysts predict that Atlas Energy Solutions Inc. will post 0.84 earnings per share for the current year.

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.