Piper Sandler Lowers Atlas Energy Solutions (NYSE:AESI) Price Target to $17.00

Atlas Energy Solutions (NYSE:AESI) had its price objective decreased by investment analysts at Piper Sandler from $22.00 to $17.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 35.24% from the company’s current price.

Several other brokerages also recently commented on AESI. Benchmark dropped their target price on Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. The Goldman Sachs Group dropped their price objective on shares of Atlas Energy Solutions from $22.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. Stephens upped their target price on shares of Atlas Energy Solutions from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Barclays lowered their price target on shares of Atlas Energy Solutions from $23.00 to $19.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Finally, Royal Bank of Canada cut their price objective on shares of Atlas Energy Solutions from $21.00 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $20.81.

Atlas Energy Solutions Price Performance

AESI opened at $12.57 on Thursday. Atlas Energy Solutions has a 52-week low of $11.76 and a 52-week high of $26.86. The company has a 50 day moving average of $15.50 and a two-hundred day moving average of $19.72. The company has a market cap of $1.53 billion, a P/E ratio of 15.91 and a beta of 1.34. The company has a quick ratio of 1.08, a current ratio of 1.23 and a debt-to-equity ratio of 0.42.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.10). Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The business had revenue of $297.59 million for the quarter, compared to analysts’ expectations of $291.13 million. During the same period last year, the company posted $0.26 earnings per share. The firm’s revenue for the quarter was up 54.5% on a year-over-year basis. On average, analysts expect that Atlas Energy Solutions will post 0.83 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Gregory M. Shepard acquired 32,155 shares of Atlas Energy Solutions stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average cost of $19.04 per share, for a total transaction of $612,231.20. Following the completion of the purchase, the insider now directly owns 7,651,210 shares of the company’s stock, valued at $145,679,038.40. This trade represents a 0.42 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 15.98% of the company’s stock.

Institutional Trading of Atlas Energy Solutions

Several institutional investors have recently added to or reduced their stakes in AESI. Quarry LP acquired a new position in shares of Atlas Energy Solutions in the 4th quarter valued at about $27,000. CBIZ Investment Advisory Services LLC lifted its holdings in Atlas Energy Solutions by 62.9% in 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 last quarter. Tower Research Capital LLC TRC boosted its stake 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 valued at $31,000 after acquiring an additional 1,047 shares during the period. Fifth Third Bancorp grew its holdings in shares of Atlas Energy Solutions by 1,240.1% during the first quarter. Fifth Third Bancorp now owns 1,970 shares of the company’s stock valued at $35,000 after purchasing an additional 1,823 shares during the last quarter. Finally, Larson Financial Group LLC lifted its holdings in shares of Atlas Energy Solutions by 201.8% in the 1st quarter. Larson Financial Group LLC now owns 1,968 shares of the company’s stock worth $35,000 after purchasing an additional 1,316 shares during the last quarter. 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.