The Goldman Sachs Group Downgrades Atlas Energy Solutions (NYSE:AESI) to Neutral

Atlas Energy Solutions (NYSE:AESI) was downgraded by equities researchers at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research report issued on Thursday, FinViz reports. They currently have a $21.00 price target on the stock, down from their previous price target of $23.00. The Goldman Sachs Group’s price objective points to a potential downside of 1.96% from the company’s previous close.

AESI has been the subject of several other reports. Stephens reaffirmed an “overweight” rating and set a $28.00 target price on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. Pickering Energy Partners cut Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 30th. Barclays dropped their price target on 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. Benchmark reaffirmed a “buy” rating and set a $27.00 price objective on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. Finally, Bank of America lowered their target price on Atlas Energy Solutions from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $25.25.

Atlas Energy Solutions Stock Performance

Shares of NYSE AESI opened at $21.42 on Thursday. The company has a market capitalization of $2.35 billion, a PE ratio of 27.11, a price-to-earnings-growth ratio of 10.60 and a beta of 0.69. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.23. The company’s fifty day moving average price is $20.90 and its 200 day moving average price is $21.16. Atlas Energy Solutions has a 1 year low of $15.55 and a 1 year high of $24.93.

Atlas Energy Solutions (NYSE:AESI) last posted its earnings results on Monday, October 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $304.40 million for the quarter, compared to analysts’ expectations of $307.93 million. During the same period in the previous year, the company earned $0.51 earnings per share. The company’s revenue was up 93.1% compared to the same quarter last year. On average, research analysts predict that Atlas Energy Solutions will post 0.8 earnings per share for the current year.

Insider Activity at Atlas Energy Solutions

In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 8,571 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $19.44, for a total value of $166,620.24. Following the completion of the transaction, the insider now owns 943,317 shares in the company, valued at $18,338,082.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 8,571 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $19.44, for a total value of $166,620.24. Following the sale, the insider now owns 943,317 shares of the company’s stock, valued at $18,338,082.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Gregory M. Shepard acquired 23,300 shares of the stock in a transaction dated 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 owns 7,540,306 shares of the company’s stock, valued at approximately $147,412,982.30. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 60,869 shares of company stock worth $1,187,983 and sold 45,713 shares worth $939,317. Company insiders own 24.34% of the company’s stock.

Institutional Investors Weigh In On Atlas Energy Solutions

Several institutional investors have recently modified their holdings of AESI. First Horizon Advisors Inc. raised its stake in Atlas Energy Solutions by 313.7% in the second quarter. First Horizon Advisors Inc. now owns 1,725 shares of the company’s stock valued at $34,000 after buying an additional 1,308 shares in the last quarter. Amalgamated Bank raised its position in shares of Atlas Energy Solutions by 328.1% during the 2nd quarter. Amalgamated Bank now owns 2,350 shares of the company’s stock worth $47,000 after acquiring an additional 1,801 shares in the last quarter. CWM LLC lifted its stake in Atlas Energy Solutions by 47.1% during the third quarter. CWM LLC now owns 2,766 shares of the company’s stock worth $60,000 after purchasing an additional 886 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Atlas Energy Solutions during the second quarter worth approximately $74,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in Atlas Energy Solutions in the first quarter valued at approximately $78,000. 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.