Atlas Energy Solutions (NYSE:AESI) Sets New 52-Week High After Analyst Upgrade

Atlas Energy Solutions Inc. (NYSE:AESI) shares reached a new 52-week high during trading on Tuesday after Stephens raised their price target on the stock from $28.00 to $29.00. Stephens currently has an overweight rating on the stock. Atlas Energy Solutions traded as high as $26.86 and last traded at $25.90, with a volume of 499947 shares trading hands. The stock had previously closed at $24.69.

A number of other research firms have also recently commented on AESI. The Goldman Sachs Group assumed coverage on Atlas Energy Solutions in a research note on Friday, December 13th. They issued a “neutral” rating and a $23.00 target price on the stock. Citigroup cut Atlas Energy Solutions from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $23.00 to $22.00 in a research note on Thursday, November 14th. Bank of America reaffirmed a “neutral” rating and set a $22.50 price objective on shares of Atlas Energy Solutions in a research note on Monday, January 13th. Pickering Energy Partners cut Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada raised their price objective on Atlas Energy Solutions from $27.00 to $28.00 and gave the company an “outperform” rating in a research note on Tuesday. Six investment 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.com, Atlas Energy Solutions presently has a consensus rating of “Moderate Buy” and an average target price of $24.94.

Insider Transactions at Atlas Energy Solutions

In other Atlas Energy Solutions news, major shareholder Brian Anthony Leveille sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $23.88, for a total value of $119,400.00. Following the completion of the sale, the insider now directly owns 382,010 shares in the company, valued at $9,122,398.80. This trade represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Gregory M. Shepard acquired 14,347 shares of the stock in a transaction on Thursday, October 31st. The stock was bought at an average price of $19.57 per share, with a total value of $280,770.79. Following the completion of the acquisition, the insider now directly owns 7,554,653 shares of the company’s stock, valued at $147,844,559.21. This trade represents a 0.19 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 132,142 shares of company stock worth $2,993,921. Company insiders own 24.34% of the company’s stock.

Hedge Funds Weigh In On Atlas Energy Solutions

Several large investors have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Atlas Energy Solutions by 1.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,931 shares of the company’s stock valued at $979,000 after purchasing an additional 711 shares during the last quarter. CWM LLC lifted its holdings in shares of Atlas Energy Solutions by 47.1% during the third quarter. CWM LLC now owns 2,766 shares of the company’s stock valued at $60,000 after purchasing an additional 886 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of Atlas Energy Solutions by 1.0% during the second quarter. Cetera Investment Advisers now owns 88,654 shares of the company’s stock valued at $1,767,000 after purchasing an additional 897 shares during the last quarter. FMR LLC lifted its holdings in shares of Atlas Energy Solutions by 101.0% during the third quarter. FMR LLC now owns 2,696 shares of the company’s stock valued at $59,000 after purchasing an additional 1,355 shares during the last quarter. Finally, Amalgamated Bank lifted its holdings in shares of Atlas Energy Solutions by 328.1% during the second quarter. Amalgamated Bank now owns 2,350 shares of the company’s stock valued at $47,000 after purchasing an additional 1,801 shares during the last quarter. 34.59% of the stock is currently owned by hedge funds and other institutional investors.

Atlas Energy Solutions Stock Up 2.3 %

The company’s fifty day moving average price is $22.82 and its 200-day moving average price is $21.45. The stock has a market capitalization of $2.78 billion, a PE ratio of 32.22, a price-to-earnings-growth ratio of 6.98 and a beta of 1.03. The company has a quick ratio of 1.08, a current ratio of 1.23 and a debt-to-equity ratio of 0.42.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.25). The firm had revenue of $304.40 million for the quarter, compared to the consensus estimate of $307.93 million. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. Atlas Energy Solutions’s revenue was up 93.1% on a year-over-year basis. During the same period last year, the business earned $0.51 EPS. Analysts forecast that Atlas Energy Solutions Inc. will post 0.84 earnings per share for the current year.

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.