Atlas Energy Solutions (NYSE:AESI) Downgraded by Pickering Energy Partners to Neutral

Atlas Energy Solutions (NYSE:AESI) was downgraded by stock analysts at Pickering Energy Partners from an “outperform” rating to a “neutral” rating in a report issued on Wednesday, Marketbeat reports.

A number of other equities analysts have also recently issued reports on the stock. Bank of America lowered their price objective on shares of Atlas Energy Solutions from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Benchmark reiterated a “buy” rating and set a $27.00 price objective on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. Royal Bank of Canada lowered their price objective on shares of Atlas Energy Solutions from $26.00 to $25.00 and set an “outperform” rating for the company in a research report on Friday, October 11th. The Goldman Sachs Group lowered 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 research report on Thursday, August 29th. Finally, Barclays decreased their price target on shares of Atlas Energy Solutions from $26.00 to $23.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Atlas Energy Solutions presently has an average rating of “Buy” and an average price target of $25.75.

Atlas Energy Solutions Stock Performance

NYSE AESI opened at $20.37 on Wednesday. The company has a quick ratio of 1.35, a current ratio of 1.53 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $2.24 billion, a P/E ratio of 25.78, a P/E/G ratio of 6.47 and a beta of 0.56. Atlas Energy Solutions has a 12-month low of $15.55 and a 12-month high of $24.93. The firm has a 50-day moving average price of $21.00 and a two-hundred day moving average price of $21.24.

Atlas Energy Solutions (NYSE:AESI) last issued its earnings results on Monday, October 28th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.25). The firm had revenue of $304.40 million during the quarter, compared to analyst estimates of $307.93 million. Atlas Energy Solutions had a net margin of 13.71% and a return on equity of 16.75%. Atlas Energy Solutions’s quarterly revenue was up 93.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.51 earnings per share. Analysts anticipate that Atlas Energy Solutions will post 1.48 earnings per share for the current year.

Insider Activity at Atlas Energy Solutions

In other news, major shareholder Gregory M. Shepard purchased 23,300 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were bought at an average cost of $19.55 per share, with a total value of $455,515.00. Following the completion of the transaction, the insider now directly owns 7,540,306 shares of the company’s stock, valued at approximately $147,412,982.30. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Atlas Energy Solutions news, major shareholder Brian Anthony Leveille sold 10,000 shares of Atlas Energy Solutions stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $20.50, for a total value of $205,000.00. Following the sale, the insider now owns 542,010 shares of the company’s stock, valued at approximately $11,111,205. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Gregory M. Shepard acquired 23,300 shares of the stock in a transaction on Thursday, October 24th. The stock was bought at an average cost of $19.55 per share, for a total transaction of $455,515.00. Following the transaction, the insider now owns 7,540,306 shares of the company’s stock, valued at approximately $147,412,982.30. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 33,159 shares of company stock valued at $650,776 and have sold 35,713 shares valued at $729,117. 24.34% of the stock is owned by insiders.

Institutional Trading of Atlas Energy Solutions

Several hedge funds have recently added to or reduced their stakes in the stock. Emerald Advisers LLC raised its position in Atlas Energy Solutions by 28.4% in the third quarter. Emerald Advisers LLC now owns 10,850 shares of the company’s stock worth $237,000 after acquiring an additional 2,400 shares during the period. Modera Wealth Management LLC purchased a new position in shares of Atlas Energy Solutions in the third quarter worth about $322,000. Tectonic Advisors LLC grew its stake in Atlas Energy Solutions by 7.5% during the third quarter. Tectonic Advisors LLC now owns 59,725 shares of the company’s stock valued at $1,302,000 after acquiring an additional 4,187 shares in the last quarter. Copeland Capital Management LLC grew its stake in Atlas Energy Solutions by 19.8% during the third quarter. Copeland Capital Management LLC now owns 1,884,032 shares of the company’s stock valued at $41,072,000 after acquiring an additional 311,228 shares in the last quarter. Finally, Vest Financial LLC grew its stake in Atlas Energy Solutions by 14.8% during the third quarter. Vest Financial LLC now owns 65,578 shares of the company’s stock valued at $1,430,000 after acquiring an additional 8,436 shares in the last quarter. Institutional investors 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.