Atlas Energy Solutions (NYSE:AESI) PT Raised to $27.00

Atlas Energy Solutions (NYSE:AESI) had its price target hoisted by stock analysts at Raymond James from $26.00 to $27.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “strong-buy” rating on the stock. Raymond James’ price target suggests a potential upside of 22.89% from the stock’s current price.

A number of other research firms have also issued reports on AESI. Royal Bank of Canada lifted their target price on Atlas Energy Solutions from $23.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, February 28th. Barclays upped their target price on shares of Atlas Energy Solutions from $23.00 to $26.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Finally, The Goldman Sachs Group started coverage on shares of Atlas Energy Solutions in a research note on Thursday, March 14th. They issued a “buy” rating and a $24.00 price target for the company. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $25.17.

Atlas Energy Solutions Price Performance

AESI stock opened at $21.97 on Tuesday. Atlas Energy Solutions has a 52-week low of $15.28 and a 52-week high of $24.69. The business has a fifty day moving average of $20.80 and a two-hundred day moving average of $18.91. The stock has a market cap of $2.20 billion and a price-to-earnings ratio of 13.99. The company has a quick ratio of 3.21, a current ratio of 3.44 and a debt-to-equity ratio of 0.20.

Atlas Energy Solutions (NYSE:AESI) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.24). Atlas Energy Solutions had a return on equity of 47.40% and a net margin of 17.17%. The firm had revenue of $141.14 million for the quarter, compared to analyst estimates of $147.34 million. As a group, research analysts anticipate that Atlas Energy Solutions will post 2.92 earnings per share for the current year.

Insiders Place Their Bets

In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 50,000 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $19.97, for a total value of $998,500.00. Following the completion of the transaction, the insider now directly owns 970,738 shares in the company, valued at approximately $19,385,637.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, General Counsel Dathan C. Voelter sold 2,270 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $22.41, for a total transaction of $50,870.70. Following the completion of the sale, the general counsel now owns 386,601 shares in the company, valued at approximately $8,663,728.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Stacy Hock sold 50,000 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $19.97, for a total transaction of $998,500.00. Following the completion of the sale, the insider now directly owns 970,738 shares of the company’s stock, valued at approximately $19,385,637.86. The disclosure for this sale can be found here. Insiders have sold 246,860 shares of company stock valued at $5,332,121 in the last ninety days. Insiders own 24.34% of the company’s stock.

Institutional Trading of Atlas Energy Solutions

Several large investors have recently bought and sold shares of the company. Royal Bank of Canada boosted its holdings in shares of Atlas Energy Solutions by 526.7% in the 2nd quarter. Royal Bank of Canada now owns 2,206 shares of the company’s stock valued at $37,000 after buying an additional 1,854 shares during the period. Tucker Asset Management LLC acquired a new position in Atlas Energy Solutions in the third quarter valued at approximately $49,000. Russell Investments Group Ltd. bought a new position in shares of Atlas Energy Solutions during the second quarter valued at approximately $53,000. Tower Research Capital LLC TRC bought a new position in shares of Atlas Energy Solutions during the first quarter valued at approximately $68,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Atlas Energy Solutions during the 2nd quarter worth approximately $69,000. Institutional investors and hedge funds 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.