Citigroup Has Lowered Expectations for Atlas Energy Solutions (NYSE:AESI) Stock Price

Atlas Energy Solutions (NYSE:AESI) had its price target reduced by Citigroup from $17.00 to $16.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup‘s target price points to a potential upside of 183.44% from the stock’s previous close.

AESI has been the topic of a number of other research reports. Scotiabank raised their target price on Atlas Energy Solutions from $17.00 to $18.00 and gave the company a “sector outperform” rating in a report on Wednesday, November 4th. Piper Sandler dropped their price objective on Atlas Energy Solutions from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, November 4th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Atlas Energy Solutions in a research note on Wednesday, November 4th. Barclays dropped their target price on shares of Atlas Energy Solutions from $13.00 to $7.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, Royal Bank Of Canada decreased their price target on shares of Atlas Energy Solutions from $16.00 to $13.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 4th. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $15.80.

Atlas Energy Solutions Price Performance

Shares of NYSE:AESI traded up $0.28 during midday trading on Wednesday, hitting $5.64. The stock had a trading volume of 1,792,105 shares, compared to its average volume of 3,697,645. The company’s 50-day moving average price is $10.99 and its 200-day moving average price is $13.20. Atlas Energy Solutions has a fifty-two week low of $5.08 and a fifty-two week high of $20.13. The company has a quick ratio of 0.99, a current ratio of 1.22 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $705.62 million, a P/E ratio of -5.03 and a beta of 1.29.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings data on Monday, November 2nd. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.12). Atlas Energy Solutions had a negative net margin of 12.98% and a negative return on equity of 12.38%. The firm had revenue of $267.78 million during the quarter, compared to the consensus estimate of $265.32 million. During the same period last year, the business earned ($0.19) earnings per share. The business’s revenue was up 3.1% compared to the same quarter last year. As a group, equities research analysts predict that Atlas Energy Solutions will post -0.95 EPS for the current fiscal year.

Insider Transactions at Atlas Energy Solutions

In other Atlas Energy Solutions news, insider Gregory Shepard sold 500,000 shares of the company’s stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $5.32, for a total value of $2,660,000.00. Following the completion of the transaction, the insider owned 6,921,210 shares of the company’s stock, valued at $36,820,837.20. This represents a 6.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders sold 890,500 shares of company stock valued at $4,754,980. 16.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cetera Investment Advisers raised its holdings in Atlas Energy Solutions by 6.9% in the 1st quarter. Cetera Investment Advisers now owns 21,094 shares of the company’s stock valued at $277,000 after buying an additional 1,357 shares during the last quarter. Citizens Financial Group Inc. RI raised its stake in shares of Atlas Energy Solutions by 6.0% during the first quarter. Citizens Financial Group Inc. RI now owns 23,966 shares of the company’s stock valued at $314,000 after acquiring an additional 1,364 shares during the last quarter. Hantz Financial Services Inc. raised its stake in shares of Atlas Energy Solutions by 49.7% during the third quarter. Hantz Financial Services Inc. now owns 7,117 shares of the company’s stock valued at $85,000 after acquiring an additional 2,362 shares during the last quarter. State of Wyoming acquired a new position in shares of Atlas Energy Solutions during the first quarter worth $48,000. Finally, Ieq Capital LLC lifted its holdings in shares of Atlas Energy Solutions by 7.6% during the third quarter. Ieq Capital LLC now owns 64,951 shares of the company’s stock worth $780,000 after purchasing an additional 4,576 shares during the period. Institutional investors and hedge funds own 34.59% of the company’s stock.

Key Atlas Energy Solutions News

Here’s some of the latest news about AESI:

• Positive Sentiment: A Seeking Alpha article characterized emerging tailwinds as a reason to view Atlas Energy Solutions as a “strong buy,” providing a bullish counterpoint to recent concerns. Article: Atlas Energy Solutions: Emerging Tailwinds Make It A Strong Buy
• Negative Sentiment: Barclays cut its price target to $7 from $13 and reiterated an “equal weight” rating. Although the new target implies upside from the cited share price, the steep reduction signals a more cautious outlook. Barclays ratings
• Negative Sentiment: Insider Gregory Shepard sold 890,500 shares across transactions on November 6, 9 and 10, for about $4.75 million in total. The repeated sales could raise concern, though he retained roughly 6.53 million shares after the latest sale. SEC filing for insider transactions

About Atlas Energy Solutions

Atlas Energy Solutions Inc. is a U.S. energy-services company that supplies proppant, primarily frac sand, used in hydraulic fracturing. The company mines, processes and distributes sand for oil and natural gas operators. Atlas also provides logistics services to move proppant from its facilities to well sites, including transportation and storage. Its operations are focused on the Permian Basin in West Texas and southeastern New Mexico, a major oil and gas producing region. Founded in 2017, the company has developed an integrated supply and logistics network serving energy producers in the region.