Royal Bank of Canada Has Lowered Expectations for Atlas Energy Solutions (NYSE:AESI) Stock Price

Atlas Energy Solutions (NYSE:AESI) had its price objective lowered by equities researchers at Royal Bank of Canada from $28.00 to $25.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 28.60% from the company’s current price.

A number of other equities research analysts have also recently issued reports on AESI. The Goldman Sachs Group started coverage on shares of Atlas Energy Solutions in a research note on Friday, December 13th. They issued a “neutral” rating and a $23.00 price target on the stock. Barclays raised their price target on Atlas Energy Solutions from $19.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Stephens upped their target price on Atlas Energy Solutions from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. Bank of America reissued a “neutral” rating and set a $22.50 target price on shares of Atlas Energy Solutions in a research note on Monday, January 13th. Finally, Pickering Energy Partners lowered Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.83.

Atlas Energy Solutions Price Performance

Shares of AESI stock traded up $0.02 during trading hours on Wednesday, hitting $19.44. The stock had a trading volume of 535,962 shares, compared to its average volume of 1,589,514. Atlas Energy Solutions has a one year low of $17.49 and a one year high of $26.86. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 24.64 and a beta of 1.03. The stock’s 50-day moving average price is $22.45 and its two-hundred day moving average price is $21.69. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.08.

Atlas Energy Solutions (NYSE:AESI) last released its quarterly earnings data on Monday, February 24th. The company reported $0.06 EPS 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 firm had revenue of $271.34 million for the quarter, compared to analysts’ expectations of $272.94 million. Equities analysts forecast that Atlas Energy Solutions will post 0.83 EPS for the current year.

Insider Transactions at Atlas Energy Solutions

In other news, major shareholder Stacy Hock sold 8,571 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $22.55, for a total transaction of $193,276.05. Following the completion of the transaction, the insider now directly owns 917,604 shares of the company’s stock, valued at $20,691,970.20. This represents a 0.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Brian Anthony Leveille sold 12,500 shares of Atlas Energy Solutions stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $23.95, for a total transaction of $299,375.00. Following the completion of the transaction, the insider now owns 419,510 shares of the company’s stock, valued at $10,047,264.50. The trade was a 2.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,071 shares of company stock worth $1,773,251 over the last three months. 24.34% of the stock is owned by company insiders.

Hedge Funds Weigh In On Atlas Energy Solutions

Several hedge funds have recently made changes to their positions in the stock. Quarry LP bought a new position in Atlas Energy Solutions during the 4th quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC grew its stake in shares of Atlas Energy Solutions by 62.9% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 1,354 shares of the company’s stock valued at $30,000 after purchasing an additional 523 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Atlas Energy Solutions by 307.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,387 shares of the company’s stock valued at $31,000 after acquiring an additional 1,047 shares in the last quarter. Global Retirement Partners LLC boosted its stake in Atlas Energy Solutions by 191.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,941 shares of the company’s stock valued at $43,000 after buying an additional 1,276 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in shares of Atlas Energy Solutions in the 3rd quarter worth approximately $48,000. 34.59% of the stock is currently owned by hedge funds and other institutional investors.

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.