Atlas Energy Solutions (NYSE:AESI) Price Target Cut to $7.00 by Analysts at Barclays

Key Points

• Barclays cut its price target on Atlas Energy Solutions from $13 to $7 and maintained an equal-weight rating; the new target implies 21.76% upside from the prior close.
• Analyst views remain mixed: MarketBeat reports an average “Hold” rating and a consensus price target of $15.90, with six Buy, three Hold, and three Sell ratings.
• In its latest quarter, Atlas missed EPS expectations, reporting a loss of $0.36 per share versus an estimated loss of $0.24, while revenue of $267.78 million topped estimates and rose 3.1% year over year.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) had its target price decreased by equities research analysts at Barclays from $13.00 to $7.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an "equal weight" rating on the stock. Barclays's price objective indicates a potential upside of 21.76% from the company's previous close.

Several other research analysts also recently weighed in on the stock. The Goldman Sachs Group set a $12.00 target price on shares of Atlas Energy Solutions in a research report on Friday, August 7th. Glj Research started coverage on shares of Atlas Energy Solutions in a research report on Wednesday, October 28th. They issued a "buy" rating and a $13.00 price target for the company. Piper Sandler decreased their price objective on shares of Atlas Energy Solutions from $15.00 to $13.00 and set a "neutral" rating for the company in a research note on Wednesday, November 4th. Stifel Nicolaus decreased their price objective on shares of Atlas Energy Solutions from $25.00 to $21.00 and set a "buy" rating for the company in a research note on Monday. Finally, Zacks Research cut shares of Atlas Energy Solutions from a "hold" rating to a "strong sell" rating in a research report on Tuesday, October 20th. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Atlas Energy Solutions presently has an average rating of "Hold" and an average target price of $15.90.

Atlas Energy Solutions Stock Performance

AESI stock traded up $0.39 during trading on Wednesday, reaching $5.75. 249,081 shares of the company's stock were exchanged, compared to its average volume of 3,690,592. The company has a quick ratio of 0.99, a current ratio of 1.22 and a debt-to-equity ratio of 0.92. Atlas Energy Solutions has a 1-year low of $5.08 and a 1-year high of $20.13. The company's fifty day moving average price is $10.99 and its 200-day moving average price is $13.20. The firm has a market cap of $718.62 million, a PE ratio of -5.11 and a beta of 1.29.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last posted its quarterly earnings data on Monday, November 2nd. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $267.78 million during the quarter, compared to the consensus estimate of $265.32 million. During the same quarter last year, the business earned ($0.19) earnings per share. The company's revenue was up 3.1% on a year-over-year basis. On average, research analysts expect that Atlas Energy Solutions will post -0.95 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Gregory Shepard sold 190,500 shares of the company's stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $5.16, for a total transaction of $982,980.00. Following the completion of the sale, the insider directly owned 6,530,710 shares of the company's stock, valued at approximately $33,698,463.60. This represents a 2.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders sold 890,500 shares of company stock valued at $4,754,980. 16.40% of the stock is currently owned by insiders.

Institutional Trading of Atlas Energy Solutions

A number of hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in Atlas Energy Solutions by 12.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,502,480 shares of the company's stock worth $19,713,000 after acquiring an additional 167,758 shares in the last quarter. CenterBook Partners LP lifted its holdings in shares of Atlas Energy Solutions by 84.8% during the third quarter. CenterBook Partners LP now owns 1,180,943 shares of the company's stock valued at $14,183,000 after acquiring an additional 541,774 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Atlas Energy Solutions during the second quarter valued at $7,765,000. Encompass Capital Advisors LLC bought a new position in shares of Atlas Energy Solutions during the first quarter valued at $119,854,000. Finally, Readystate Asset Management LP acquired a new stake in shares of Atlas Energy Solutions in the 1st quarter valued at $1,459,000. Institutional investors own 34.59% of the company's stock.

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.

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