Royal Bank of Canada Issues Pessimistic Forecast for Atlas Energy Solutions (NYSE:AESI) Stock Price

Atlas Energy Solutions (NYSE:AESI) had its price objective dropped by equities research analysts at Royal Bank of Canada from $28.00 to $25.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 28.17% from the company’s current price.

A number of other equities analysts have also recently issued reports on the company. Pickering Energy Partners cut Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 30th. Raymond James lowered shares of Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. Barclays raised their price target on shares of Atlas Energy Solutions from $19.00 to $23.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Bank of America reissued a “neutral” rating and set a $22.50 price objective on shares of Atlas Energy Solutions in a research report on Monday, January 13th. Finally, The Goldman Sachs Group initiated coverage on Atlas Energy Solutions in a research report on Friday, December 13th. They issued a “neutral” rating and a $23.00 target price for the company. Six analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.83.

Atlas Energy Solutions Stock Performance

Shares of AESI opened at $19.51 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42. The firm’s fifty day simple moving average is $22.37 and its two-hundred day simple moving average is $21.66. Atlas Energy Solutions has a 12 month low of $17.49 and a 12 month high of $26.86. The stock has a market capitalization of $2.15 billion, a P/E ratio of 24.69 and a beta of 1.03.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings data on Monday, February 24th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.12). Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The business had revenue of $271.34 million during the quarter, compared to analyst estimates of $272.94 million. As a group, analysts predict that Atlas Energy Solutions will post 0.83 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Stacy Hock sold 8,571 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $22.55, for a total value of $193,276.05. Following the completion of the sale, the insider now owns 917,604 shares in the company, valued at $20,691,970.20. This represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Brian Anthony Leveille sold 5,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $23.17, for a total transaction of $115,850.00. Following the transaction, the insider now owns 409,510 shares in the company, valued at approximately $9,488,346.70. This trade represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,071 shares of company stock valued at $1,773,251. Corporate insiders own 24.34% of the company’s stock.

Institutional Investors Weigh In On Atlas Energy Solutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of Atlas Energy Solutions in the 4th quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC lifted its holdings in Atlas Energy Solutions by 62.9% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,354 shares of the company’s stock worth $30,000 after acquiring an additional 523 shares during the period. Tower Research Capital LLC TRC boosted its position in Atlas Energy Solutions by 307.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,387 shares of the company’s stock worth $31,000 after purchasing an additional 1,047 shares during the last quarter. Global Retirement Partners LLC grew its stake in Atlas Energy Solutions by 191.9% in the 4th quarter. Global Retirement Partners LLC now owns 1,941 shares of the company’s stock valued at $43,000 after purchasing an additional 1,276 shares during the period. Finally, Quest Partners LLC bought a new position in Atlas Energy Solutions in the 3rd quarter valued at $48,000. Hedge funds and other institutional investors own 34.59% of the company’s stock.

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.