Atlas Energy Solutions (NYSE:AESI) Price Target Lowered to $24.00 at Bank of America

Atlas Energy Solutions (NYSE:AESIGet Free Report) had its target price cut by research analysts at Bank of America from $25.00 to $24.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price objective indicates a potential upside of 12.68% from the stock’s current price.

Several other brokerages have also weighed in on AESI. The Goldman Sachs Group increased their price objective on shares of Atlas Energy Solutions from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. Tudor Pickering upgraded Atlas Energy Solutions to a “strong-buy” rating in a research note on Monday, June 24th. Tudor, Pickering, Holt & Co. started coverage on shares of Atlas Energy Solutions in a report on Monday, June 24th. They issued a “buy” rating for the company. Raymond James upped their target price on Atlas Energy Solutions from $26.00 to $27.00 and gave the company a “strong-buy” rating in a report on Tuesday, April 16th. Finally, Piper Sandler reduced their price objective on Atlas Energy Solutions from $29.00 to $27.00 and set an “overweight” rating for the company in a research report on Monday. Nine equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Atlas Energy Solutions currently has a consensus rating of “Buy” and a consensus price target of $25.89.

View Our Latest Analysis on Atlas Energy Solutions

Atlas Energy Solutions Stock Performance

AESI stock traded up $0.31 during midday trading on Monday, hitting $21.30. 228,800 shares of the stock traded hands, compared to its average volume of 934,700. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.24 and a quick ratio of 2.05. The firm has a market cap of $2.13 billion, a P/E ratio of 11.83, a PEG 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 stock’s fifty day simple moving average is $21.65 and its 200-day simple moving average is $20.40.

Atlas Energy Solutions (NYSE:AESIGet Free Report) last announced its quarterly 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 company had revenue of $192.67 million for the quarter, compared to analyst estimates of $196.39 million. During the same quarter in the prior year, the business earned $0.03 earnings per share. Atlas Energy Solutions’s revenue was up 25.6% on a year-over-year basis. On average, analysts expect that Atlas Energy Solutions will post 2.02 earnings per share for the current year.

Insider Activity at Atlas Energy Solutions

In other news, major shareholder Richard W. Schmidt sold 51,150 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $22.98, for a total transaction of $1,175,427.00. Following the transaction, the insider now directly owns 1,051,663 shares of the company’s stock, valued at approximately $24,167,215.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Atlas Energy Solutions news, major shareholder Richard W. Schmidt sold 51,150 shares of Atlas Energy Solutions stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $22.98, for a total value of $1,175,427.00. Following the transaction, the insider now directly owns 1,051,663 shares of the company’s stock, valued at $24,167,215.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Stacy Hock sold 8,571 shares of the company’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 completion of the transaction, the insider now owns 960,459 shares of the company’s stock, valued at approximately $19,103,529.51. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 131,278 shares of company stock worth $2,541,468 and have sold 214,243 shares worth $5,029,887. 24.34% of the stock is owned by company insiders.

Institutional Trading of Atlas Energy Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Jump Financial LLC acquired a new position in Atlas Energy Solutions during the 4th quarter valued at about $1,163,000. Charles Schwab Investment Management Inc. raised its position in shares of Atlas Energy Solutions by 154.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 336,324 shares of the company’s stock worth $5,791,000 after acquiring an additional 204,176 shares during the last quarter. Palogic Value Management L.P. acquired a new position in shares of Atlas Energy Solutions in the 4th quarter valued at $1,464,000. Venturi Wealth Management LLC acquired a new stake in Atlas Energy Solutions in the fourth quarter worth $27,963,000. Finally, Capstone Investment Advisors LLC raised its holdings in Atlas Energy Solutions by 9.2% during the 1st quarter. Capstone Investment Advisors LLC now owns 545,859 shares of the company’s stock worth $12,347,000 after buying an additional 45,859 shares during the period. Institutional investors and hedge funds own 34.59% of the company’s stock.

About Atlas Energy Solutions

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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.

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Analyst Recommendations for Atlas Energy Solutions (NYSE:AESI)

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