Atlas Energy Solutions (NYSE:AESI) Earns Neutral Rating from Analysts at The Goldman Sachs Group

Analysts at The Goldman Sachs Group began coverage on shares of Atlas Energy Solutions (NYSE:AESI) in a note issued to investors on Friday. The firm set a “neutral” rating and a $23.00 price target on the stock. The Goldman Sachs Group’s price objective indicates a potential downside of 0.69% from the stock’s previous close.

AESI has been the topic of a number of other research reports. Barclays cut shares of Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $23.00 to $19.00 in a research report on Tuesday, November 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 price objective on shares of Atlas Energy Solutions in a report on Wednesday, October 30th. Citigroup cut Atlas Energy Solutions from a “buy” rating to a “neutral” rating and dropped their target price for the company from $23.00 to $22.00 in a report on Thursday, November 14th. Finally, Pickering Energy Partners cut Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $24.67.

Atlas Energy Solutions Price Performance

Shares of Atlas Energy Solutions stock opened at $23.16 on Friday. The firm has a market capitalization of $2.55 billion, a PE ratio of 29.32, a price-to-earnings-growth ratio of 11.53 and a beta of 0.96. The company has a current ratio of 1.23, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42. Atlas Energy Solutions has a 12 month low of $15.55 and a 12 month high of $24.93. The business’s 50-day moving average price is $21.42 and its 200-day moving average price is $21.01.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly 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 business had revenue of $304.40 million for the quarter, compared to the consensus estimate of $307.93 million. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The firm’s revenue was up 93.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.51 earnings per share. Sell-side analysts forecast that Atlas Energy Solutions will post 0.88 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Brian Anthony Leveille sold 30,000 shares of Atlas Energy Solutions stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $24.02, for a total transaction of $720,600.00. Following the sale, the insider now owns 432,010 shares of the company’s stock, valued at approximately $10,376,880.20. The trade was a 6.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Gregory M. Shepard purchased 1,797 shares of Atlas Energy Solutions stock in a transaction that occurred on Friday, October 18th. The shares were bought at an average price of $19.65 per share, for a total transaction of $35,311.05. Following the transaction, the insider now directly owns 7,507,194 shares of the company’s stock, valued at $147,516,362.10. This trade represents a 0.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 60,869 shares of company stock worth $1,187,983 and sold 119,642 shares worth $2,650,185. Company insiders own 24.34% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in AESI. California State Teachers Retirement System grew its holdings in Atlas Energy Solutions by 575.2% in the first quarter. California State Teachers Retirement System now owns 19,784 shares of the company’s stock worth $448,000 after purchasing an additional 16,854 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Atlas Energy Solutions by 60.3% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 21,786 shares of the company’s stock valued at $434,000 after buying an additional 8,195 shares during the last quarter. First Horizon Advisors Inc. raised 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 buying an additional 1,308 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Atlas Energy Solutions by 58.5% in the second quarter. Bank of New York Mellon Corp now owns 530,197 shares of the company’s stock worth $10,567,000 after acquiring an additional 195,772 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Atlas Energy Solutions in the second quarter worth $74,000. Institutional investors 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.