Atlas Energy Solutions (NYSE:AESI) Price Target Cut to $25.00 by Analysts at Royal Bank of Canada

Atlas Energy Solutions (NYSE:AESI) had its target price lowered by analysts at Royal Bank of Canada from $28.00 to $25.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 28.60% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the company. Raymond James lowered Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. Benchmark decreased their price objective on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday. Citigroup cut Atlas Energy Solutions from a “buy” rating to a “neutral” rating and cut their price target for the company from $23.00 to $22.00 in a report on Thursday, November 14th. Pickering Energy Partners downgraded shares of Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 30th. Finally, Stephens upped their price objective on shares of Atlas Energy Solutions from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Six equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.83.

Atlas Energy Solutions Price Performance

AESI traded up $0.02 during midday trading on Wednesday, hitting $19.44. 535,962 shares of the company traded hands, compared to its average volume of 1,589,514. The business has a 50 day simple moving average of $22.45 and a two-hundred day simple moving average of $21.69. Atlas Energy Solutions has a 52-week low of $17.49 and a 52-week high of $26.86. The company has a current ratio of 1.23, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 24.64 and a beta of 1.03.

Atlas Energy Solutions (NYSE:AESI) last posted its quarterly earnings data on Monday, February 24th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.12). The firm had revenue of $271.34 million during the quarter, compared to analysts’ expectations of $272.94 million. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. On average, equities analysts forecast that Atlas Energy Solutions will post 0.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Stacy Hock sold 10,000 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $21.96, for a total transaction of $219,600.00. Following the transaction, the insider now directly owns 907,604 shares of the company’s stock, valued at $19,930,983.84. This represents a 1.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Brian Anthony Leveille sold 12,500 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $23.95, for a total transaction of $299,375.00. Following the sale, the insider now directly owns 419,510 shares of the company’s stock, valued at approximately $10,047,264.50. This represents a 2.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 76,071 shares of company stock valued at $1,773,251. 24.34% of the stock is owned by insiders.

Institutional Trading of Atlas Energy Solutions

A number of large investors have recently made changes to their positions in the stock. Modera Wealth Management LLC bought a new position in Atlas Energy Solutions in the third quarter worth about $322,000. Emerald Advisers LLC raised its stake in shares of Atlas Energy Solutions by 28.4% during the 3rd quarter. Emerald Advisers LLC now owns 10,850 shares of the company’s stock worth $237,000 after acquiring an additional 2,400 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in Atlas Energy Solutions during the third quarter valued at approximately $844,000. Quest Partners LLC acquired a new stake in Atlas Energy Solutions in the third quarter valued at approximately $48,000. Finally, Intech Investment Management LLC acquired a new position in shares of Atlas Energy Solutions during the third quarter worth $323,000. 34.59% of the stock is owned by hedge funds and other institutional investors.

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.