Bank of America Reaffirms “Neutral” Rating for Atlas Energy Solutions (NYSE:AESI)

Atlas Energy Solutions (NYSE:AESI)‘s stock had its “neutral” rating restated by Bank of America in a report issued on Monday, Marketbeat.com reports. They presently have a $22.50 price target on the stock. Bank of America‘s target price points to a potential downside of 0.75% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Pickering Energy Partners downgraded shares of Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 30th. Raymond James cut Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. Citigroup lowered Atlas Energy Solutions from a “buy” rating to a “neutral” rating and dropped their price target for the company from $23.00 to $22.00 in a research report on Thursday, November 14th. Royal Bank of Canada restated an “outperform” rating and set a $25.00 price objective on shares of Atlas Energy Solutions in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group assumed coverage on shares of Atlas Energy Solutions in a research report on Friday, December 13th. They issued a “neutral” rating and a $23.00 price target for the company. Six analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Atlas Energy Solutions has an average rating of “Moderate Buy” and a consensus price target of $24.50.

Atlas Energy Solutions Price Performance

NYSE AESI opened at $22.67 on Monday. Atlas Energy Solutions has a 1 year low of $15.55 and a 1 year high of $24.93. The business’s fifty day moving average is $22.19 and its two-hundred day moving average is $21.18. The stock has a market capitalization of $2.50 billion, a P/E ratio of 28.70, a P/E/G ratio of 11.53 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.

Atlas Energy Solutions (NYSE:AESI) last announced its earnings results on Monday, October 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.25). Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The company had revenue of $304.40 million for the quarter, compared to analyst estimates of $307.93 million. During the same period last year, the firm earned $0.51 earnings per share. The firm’s revenue for the quarter was up 93.1% on a year-over-year basis. On average, research analysts forecast that Atlas Energy Solutions will post 0.88 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Brian Anthony Leveille sold 30,000 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $24.02, for a total transaction of $720,600.00. Following the completion of the sale, the insider now owns 432,010 shares in the company, valued at approximately $10,376,880.20. This represents a 6.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Stacy Hock sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $21.96, for a total value of $219,600.00. Following the completion of the transaction, the insider now directly owns 907,604 shares in the company, valued at $19,930,983.84. The trade was a 1.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 60,869 shares of company stock worth $1,187,983 and have sold 129,642 shares worth $2,904,721. 24.34% of the stock is owned by insiders.

Hedge Funds Weigh In On Atlas Energy Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. boosted its holdings in shares of Atlas Energy Solutions by 9.9% during the 4th quarter. Harbor Capital Advisors Inc. now owns 33,733 shares of the company’s stock worth $748,000 after buying an additional 3,044 shares during the period. JPMorgan Chase & Co. boosted its holdings in Atlas Energy Solutions by 324.3% during the third quarter. JPMorgan Chase & Co. now owns 194,494 shares of the company’s stock valued at $4,240,000 after acquiring an additional 148,655 shares during the period. Principal Financial Group Inc. acquired a new stake in shares of Atlas Energy Solutions in the third quarter valued at about $844,000. Wilmington Savings Fund Society FSB bought a new position in shares of Atlas Energy Solutions in the third quarter worth about $298,000. Finally, Ashford Capital Management Inc. lifted its position in shares of Atlas Energy Solutions by 27.9% during the 3rd quarter. Ashford Capital Management Inc. now owns 586,000 shares of the company’s stock worth $12,775,000 after purchasing an additional 127,910 shares during the last quarter. Institutional investors and hedge funds own 34.59% of the company’s stock.

Atlas Energy Solutions Company Profile

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.