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

Atlas Energy Solutions (NYSE:AESI)‘s stock had its “outperform” rating restated by equities research analysts at Royal Bank of Canada in a report issued on Wednesday,Benzinga reports. They currently have a $25.00 target price on the stock. Royal Bank of Canada’s price target points to a potential upside of 58.18% from the company’s current price.

Other research analysts have also issued reports about the company. Bank of America reissued a “neutral” rating and issued a $22.50 price objective on shares of Atlas Energy Solutions in a report on Monday, January 13th. Barclays reduced their price target on shares of Atlas Energy Solutions from $23.00 to $19.00 and set an “equal weight” rating for the company in a research report on Monday, March 3rd. Piper Sandler initiated coverage on shares of Atlas Energy Solutions in a report on Wednesday, March 12th. They issued an “overweight” rating and a $22.00 price objective on the stock. The Goldman Sachs Group started coverage on shares of Atlas Energy Solutions in a report on Friday, December 13th. They set a “neutral” rating and a $23.00 target price for the company. Finally, Raymond James lowered shares of Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, January 6th. Six equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.83.

Atlas Energy Solutions Stock Performance

Shares of AESI stock opened at $15.81 on Wednesday. Atlas Energy Solutions has a 12-month low of $15.71 and a 12-month high of $26.86. The business’s fifty day simple moving average is $19.97 and its 200-day simple moving average is $21.24. The company has a current ratio of 1.23, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42. The company has a market cap of $1.92 billion, a PE ratio of 20.01 and a beta of 1.18.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly earnings results on Monday, February 24th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.12). Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The business had revenue of $271.34 million during the quarter, compared to analyst estimates of $272.94 million. Analysts expect that Atlas Energy Solutions will post 0.83 earnings per share for the current fiscal year.

Insider Activity

In other Atlas Energy Solutions news, major shareholder Gregory M. Shepard bought 32,155 shares of the stock in a transaction on Thursday, February 27th. The shares were bought at an average price of $19.04 per share, with a total value of $612,231.20. Following the purchase, the insider now directly owns 7,651,210 shares in the company, valued at $145,679,038.40. This trade represents a 0.42 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Stacy Hock sold 10,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $22.50, for a total transaction of $225,000.00. Following the transaction, the insider now owns 897,604 shares in the company, valued at $20,196,090. The trade was a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,000 shares of company stock worth $1,049,750 over the last three months. 24.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Atlas Energy Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Hawaiian Bank boosted its position in shares of Atlas Energy Solutions by 5.2% during the 1st quarter. First Hawaiian Bank now owns 55,252 shares of the company’s stock worth $986,000 after purchasing an additional 2,748 shares during the period. Wellington Management Group LLP lifted its stake in Atlas Energy Solutions by 7.7% during the fourth quarter. Wellington Management Group LLP now owns 855,405 shares of the company’s stock worth $18,973,000 after purchasing an additional 61,185 shares in the last quarter. Ashford Capital Management Inc. boosted its position in shares of Atlas Energy Solutions by 36.1% during the fourth quarter. Ashford Capital Management Inc. now owns 797,675 shares of the company’s stock worth $17,692,000 after buying an additional 211,675 shares during the period. Squarepoint Ops LLC boosted its position in shares of Atlas Energy Solutions by 135.0% during the fourth quarter. Squarepoint Ops LLC now owns 68,880 shares of the company’s stock worth $1,528,000 after buying an additional 39,570 shares during the period. Finally, Snowden Capital Advisors LLC grew its stake in shares of Atlas Energy Solutions by 44.9% in the fourth quarter. Snowden Capital Advisors LLC now owns 24,470 shares of the company’s stock valued at $543,000 after buying an additional 7,587 shares in the last quarter. Institutional investors and hedge funds 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.