Barclays Reiterates “Underweight” Rating for Atlas Energy Solutions (NYSE:AESI)

Atlas Energy Solutions (NYSE:AESI)‘s stock had its “underweight” rating reissued by stock analysts at Barclays in a report issued on Friday, MarketBeat reports. They currently have a $7.00 price target on the stock, down from their previous price target of $11.00. Barclays‘s target price would suggest a potential downside of 21.30% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on AESI. Citigroup decreased their price target on Atlas Energy Solutions from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Wednesday, October 1st. Piper Sandler decreased their target price on shares of Atlas Energy Solutions from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, October 16th. Stifel Nicolaus dropped their price target on shares of Atlas Energy Solutions from $14.50 to $14.00 and set a “buy” rating on the stock in a research report on Monday, August 11th. Finally, Weiss Ratings raised shares of Atlas Energy Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, November 7th. Four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Atlas Energy Solutions currently has a consensus rating of “Hold” and a consensus price target of $16.94.

Atlas Energy Solutions Price Performance

AESI traded up $0.01 during trading on Friday, hitting $8.90. 1,044,239 shares of the stock traded hands, compared to its average volume of 1,960,457. The business has a 50 day moving average price of $10.99 and a 200 day moving average price of $12.32. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.35 and a quick ratio of 1.09. Atlas Energy Solutions has a twelve month low of $8.18 and a twelve month high of $26.86. The company has a market cap of $1.10 billion, a price-to-earnings ratio of -98.67 and a beta of 1.18.

Institutional Trading of Atlas Energy Solutions

Several hedge funds have recently bought and sold shares of AESI. EverSource Wealth Advisors LLC bought a new stake in shares of Atlas Energy Solutions during the 2nd quarter worth $25,000. Larson Financial Group LLC grew its stake in shares of Atlas Energy Solutions by 201.8% during the 1st quarter. Larson Financial Group LLC now owns 1,968 shares of the company’s stock worth $35,000 after acquiring an additional 1,316 shares during the period. CWM LLC raised its stake in Atlas Energy Solutions by 244.4% in the 2nd quarter. CWM LLC now owns 2,235 shares of the company’s stock valued at $30,000 after acquiring an additional 1,586 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Atlas Energy Solutions by 233.5% in the second quarter. Nisa Investment Advisors LLC now owns 2,668 shares of the company’s stock worth $36,000 after purchasing an additional 1,868 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Atlas Energy Solutions during the 2nd quarter valued at approximately $36,000. 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.