Benchmark Issues Positive Forecast for Atlas Energy Solutions (NYSE:AESI) Stock Price

Atlas Energy Solutions (NYSE:AESI) had its price objective upped by investment analysts at Benchmark from $23.00 to $28.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Benchmark’s target price would indicate a potential upside of 11.75% from the company’s current price.

A number of other research firms have also recently issued reports on AESI. Raymond James cut Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. Pickering Energy Partners cut Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 30th. Stephens raised their price target on shares of Atlas Energy Solutions from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Tuesday. Bank of America restated a “neutral” rating and set a $22.50 price objective on shares of Atlas Energy Solutions in a research report on Monday, January 13th. Finally, Barclays cut shares of Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $23.00 to $19.00 in a research note on Tuesday, November 12th. Six equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Atlas Energy Solutions presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.06.

Atlas Energy Solutions Stock Performance

AESI stock traded up $0.04 on Wednesday, reaching $25.06. The company’s stock had a trading volume of 95,736 shares, compared to its average volume of 1,041,970. Atlas Energy Solutions has a 52 week low of $16.42 and a 52 week high of $26.86. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.08. The company has a market capitalization of $2.76 billion, a P/E ratio of 31.71, a price-to-earnings-growth ratio of 6.98 and a beta of 1.03. The firm has a fifty day moving average of $22.90 and a two-hundred day moving average of $21.48.

Atlas Energy Solutions (NYSE:AESI) last issued 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 during the quarter, compared to analyst estimates of $307.93 million. During the same quarter in the previous year, the firm earned $0.51 earnings per share. The business’s revenue was up 93.1% compared to the same quarter last year. As a group, analysts predict that Atlas Energy Solutions will post 0.84 EPS for the current fiscal year.

Insider Buying and Selling

In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 10,000 shares of the firm’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 completion of the sale, the insider now owns 907,604 shares of the company’s stock, valued at $19,930,983.84. This trade represents a 1.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Brian Anthony Leveille sold 5,000 shares of Atlas Energy Solutions stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $23.88, for a total value of $119,400.00. Following the sale, the insider now directly owns 382,010 shares of the company’s stock, valued at approximately $9,122,398.80. The trade was a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 132,142 shares of company stock valued at $2,993,921. 24.34% of the stock is owned by corporate insiders.

Institutional Trading of Atlas Energy Solutions

A number of institutional investors have recently modified their holdings of the stock. Stifel Financial Corp increased its position in Atlas Energy Solutions by 28.6% during the 3rd quarter. Stifel Financial Corp now owns 126,667 shares of the company’s stock worth $2,761,000 after purchasing an additional 28,158 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Atlas Energy Solutions by 5.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 518,569 shares of the company’s stock worth $11,305,000 after buying an additional 25,999 shares in the last quarter. Ashford Capital Management Inc. lifted its stake in shares of Atlas Energy Solutions by 27.9% in the 3rd quarter. Ashford Capital Management Inc. now owns 586,000 shares of the company’s stock valued at $12,775,000 after acquiring an additional 127,910 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Atlas Energy Solutions during the 3rd quarter valued at $844,000. Finally, State Street Corp grew its position in Atlas Energy Solutions by 15.0% during the 3rd quarter. State Street Corp now owns 1,751,059 shares of the company’s stock worth $38,173,000 after acquiring an additional 227,776 shares during the last quarter. 34.59% of the stock is currently owned by 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.