Barclays Upgrades Atlas Energy Solutions (NYSE:AESI) to “Equal Weight”

Atlas Energy Solutions (NYSE:AESI) was upgraded by research analysts at Barclays from an “underweight” rating to an “equal weight” rating in a research note issued on Monday, Marketbeat.com reports. The brokerage presently has a $14.00 price target on the stock, up from their prior price target of $10.00. Barclays‘s price objective suggests a potential upside of 20.53% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. Raymond James Financial upgraded Atlas Energy Solutions from a “market perform” rating to an “outperform” rating and set a $25.00 price target on the stock in a research report on Tuesday, June 2nd. Weiss Ratings cut Atlas Energy Solutions from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, August 7th. Piper Sandler cut their price objective on Atlas Energy Solutions from $19.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, August 27th. Citigroup reduced their target price on Atlas Energy Solutions from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, September 3rd. Finally, The Goldman Sachs Group set a $12.00 target price on Atlas Energy Solutions in a research report on Friday, August 7th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $17.22.

Atlas Energy Solutions Trading Down 5.6%

Shares of Atlas Energy Solutions stock opened at $11.62 on Monday. The firm has a 50-day simple moving average of $12.41 and a two-hundred day simple moving average of $14.44. The company has a market cap of $1.45 billion, a P/E ratio of -12.23 and a beta of 1.17. Atlas Energy Solutions has a fifty-two week low of $7.64 and a fifty-two week high of $20.13. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.58 and a current ratio of 1.82.

Atlas Energy Solutions (NYSE:AESI) last posted its earnings results on Monday, August 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.05). Atlas Energy Solutions had a negative return on equity of 9.57% and a negative net margin of 11.08%.The firm had revenue of $293.18 million for the quarter, compared to analysts’ expectations of $282.24 million. During the same period in the previous year, the company earned ($0.04) earnings per share. The company’s revenue was up 1.6% compared to the same quarter last year. As a group, equities analysts predict that Atlas Energy Solutions will post -0.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Atlas Energy Solutions

Institutional investors have recently bought and sold shares of the company. Tidal Investments LLC increased its stake in Atlas Energy Solutions by 56.3% during the 2nd quarter. Tidal Investments LLC now owns 152,010 shares of the company’s stock worth $2,525,000 after buying an additional 54,731 shares in the last quarter. AXQ Capital LP raised its holdings in shares of Atlas Energy Solutions by 349.6% during the second quarter. AXQ Capital LP now owns 53,340 shares of the company’s stock valued at $886,000 after acquiring an additional 41,475 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Atlas Energy Solutions in the second quarter valued at approximately $278,000. Citizens Financial Group Inc. RI purchased a new position in shares of Atlas Energy Solutions in the second quarter valued at approximately $379,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Atlas Energy Solutions in the second quarter valued at approximately $7,765,000. 34.59% of the stock is currently owned by institutional investors and hedge funds.

Atlas Energy Solutions Company Profile

Atlas Energy Solutions Inc (NYSE:AESI) provides proppant and logistics services to oil and natural gas producers, primarily operating in the Permian Basin of West Texas and New Mexico. The company supplies frac sand used in hydraulic fracturing to help keep underground rock fractures open and support the recovery of hydrocarbons.

The company operates sand mines, processing facilities and related infrastructure in the Permian Basin. Its product offerings include various grades and sizes of frac sand, including commonly used 40/70 and 100-mesh products.