Piper Sandler Lowers Atlas Energy Solutions (NYSE:AESI) Price Target to $27.00

Atlas Energy Solutions (NYSE:AESI) had its price objective dropped by investment analysts at Piper Sandler from $29.00 to $27.00 in a report issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price target points to a potential upside of 28.63% from the company’s current price.

Several other research firms have also commented on AESI. The Goldman Sachs Group lifted their price target on Atlas Energy Solutions from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Tudor Pickering upgraded Atlas Energy Solutions to a “strong-buy” rating in a research report on Monday, June 24th. Tudor, Pickering, Holt & Co. assumed coverage on shares of Atlas Energy Solutions in a research report on Monday, June 24th. They set a “buy” rating on the stock. Benchmark started coverage on shares of Atlas Energy Solutions in a research note on Thursday, May 23rd. They set a “buy” rating and a $27.00 price target for the company. Finally, Raymond James raised their price objective on shares of Atlas Energy Solutions from $26.00 to $27.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, April 16th. Eight equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $26.13.

Atlas Energy Solutions Stock Performance

NYSE AESI opened at $20.99 on Monday. The stock has a market capitalization of $2.10 billion, a PE ratio of 11.66, a P/E/G ratio of 3.05 and a beta of 0.59. Atlas Energy Solutions has a 1-year low of $15.55 and a 1-year high of $24.93. The business has a 50 day simple moving average of $21.65 and a two-hundred day simple moving average of $20.40. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.24 and a quick ratio of 2.05.

Atlas Energy Solutions (NYSE:AESI) last posted its earnings results on Monday, May 6th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.12). Atlas Energy Solutions had a net margin of 19.98% and a return on equity of 29.56%. The business had revenue of $192.67 million during the quarter, compared to analysts’ expectations of $196.39 million. During the same period last year, the business posted $0.03 earnings per share. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. On average, research analysts predict that Atlas Energy Solutions will post 2.02 EPS for the current fiscal year.

Insider Transactions at Atlas Energy Solutions

In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 8,571 shares of the stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $19.89, for a total transaction of $170,477.19. Following the transaction, the insider now directly owns 960,459 shares in the company, valued at approximately $19,103,529.51. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, major shareholder Stacy Hock sold 8,571 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $19.89, for a total transaction of $170,477.19. Following the sale, the insider now owns 960,459 shares of the company’s stock, valued at $19,103,529.51. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Richard W. Schmidt sold 45,948 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $23.06, for a total transaction of $1,059,560.88. Following the completion of the transaction, the insider now owns 983,315 shares of the company’s stock, valued at $22,675,243.90. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 131,278 shares of company stock valued at $2,541,468 and have sold 214,243 shares valued at $5,029,887. Corporate insiders own 24.34% of the company’s stock.

Institutional Trading of Atlas Energy Solutions

Institutional investors have recently made changes to their positions in the business. Outfitter Financial LLC increased its position in Atlas Energy Solutions by 6.4% during the 1st quarter. Outfitter Financial LLC now owns 36,740 shares of the company’s stock valued at $831,000 after buying an additional 2,200 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Atlas Energy Solutions in the 1st quarter valued at approximately $78,000. Avondale Wealth Management increased its stake in Atlas Energy Solutions by 68.4% during the 2nd quarter. Avondale Wealth Management now owns 16,000 shares of the company’s stock valued at $319,000 after purchasing an additional 6,500 shares in the last quarter. Bessemer Group Inc. purchased a new position in shares of Atlas Energy Solutions in the first quarter worth $154,000. Finally, Tectonic Advisors LLC raised its stake in Atlas Energy Solutions by 14.4% in the 1st quarter. Tectonic Advisors LLC now owns 54,646 shares of the company’s stock worth $1,236,000 after acquiring an additional 6,873 shares during 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.