Atlas Energy Solutions (NYSE:AESI) Raised to "Equal Weight" at Barclays

Key Points

• Barclays upgraded Atlas Energy Solutions from “underweight” to “equal weight” and set a $14 price target, implying approximately 12.3% upside from the reported $12.46 price.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $17.62 based on four Buy, four Hold, and two Sell ratings.
• Atlas missed quarterly EPS estimates, reporting a loss of $0.20 per share versus the expected $0.15 loss, although revenue of $293.18 million exceeded estimates and rose 1.6% year over year.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) was upgraded by equities research analysts at Barclays from an "underweight" rating to an "equal weight" rating in a research report issued to clients and investors on Monday, MarketBeat reports. The firm currently has a $14.00 target price on the stock. Barclays's price objective points to a potential upside of 12.31% from the company's current price.

Several other equities analysts also recently commented on AESI. Piper Sandler cut their price target on shares of Atlas Energy Solutions from $19.00 to $15.00 and set a "neutral" rating on the stock in a report on Thursday, August 27th. The Goldman Sachs Group set a $12.00 target price on Atlas Energy Solutions in a research note on Friday, August 7th. Citigroup decreased their price target 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. Stifel Nicolaus dropped their price objective on Atlas Energy Solutions from $28.00 to $25.00 and set a "buy" rating for the company in a report on Thursday, August 6th. Finally, Weiss Ratings lowered Atlas Energy Solutions from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, August 7th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $17.62.

Atlas Energy Solutions Stock Down 0.0%

Shares of NYSE AESI opened at $12.46 on Monday. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of -13.12 and a beta of 1.17. The company has a current ratio of 1.82, a quick ratio of 1.58 and a debt-to-equity ratio of 0.87. The firm's 50-day moving average price is $12.49 and its 200-day moving average price is $14.45. Atlas Energy Solutions has a 12-month low of $7.64 and a 12-month high of $20.13.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $293.18 million during the quarter, compared to the consensus estimate of $282.24 million. During the same quarter in the prior year, the business earned ($0.04) earnings per share. The firm's quarterly revenue was up 1.6% compared to the same quarter last year. On average, equities research analysts anticipate that Atlas Energy Solutions will post -0.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

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.

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