Atlas Energy Solutions (NYSE:AESI) Stock Gets Downgrade from Zacks Research

Key Points

• Zacks Research downgraded Atlas Energy Solutions from “hold” to “strong sell,” while the broader analyst consensus remains “hold” with an average price target of $17.56.
• AESI shares opened at $9.39, near the lower end of their 52-week range of $7.64 to $20.13 and below both their 50-day and 200-day moving averages.
• The company missed quarterly EPS expectations, reporting a loss of $0.20 per share versus an expected loss of $0.15, although revenue rose 1.6% year over year to $293.18 million.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) was downgraded by research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued on Tuesday, Zacks reports.

Other equities analysts have also issued reports about the stock. Barclays cut their price objective on shares of Atlas Energy Solutions from $14.00 to $13.00 and set an "equal weight" rating on the stock in a report on Thursday, October 15th. Stephens lowered their target price on shares of Atlas Energy Solutions from $22.00 to $20.00 and set an "overweight" rating for the company in a report on Monday, October 5th. Royal Bank Of Canada lowered their target price on shares of Atlas Energy Solutions from $21.00 to $17.00 and set a "sector perform" rating for the company in a report on Wednesday, August 5th. The Goldman Sachs Group set a $12.00 target price on shares of Atlas Energy Solutions in a research report on Friday, August 7th. Finally, Stifel Nicolaus cut their price target on Atlas Energy Solutions from $28.00 to $25.00 and set a "buy" rating on the stock in a research note on Thursday, August 6th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $17.56.

Atlas Energy Solutions Stock Performance

Atlas Energy Solutions stock opened at $9.39 on Tuesday. The company has a current ratio of 1.82, a quick ratio of 1.58 and a debt-to-equity ratio of 0.87. Atlas Energy Solutions has a 1 year low of $7.64 and a 1 year high of $20.13. The company has a market cap of $1.17 billion, a PE ratio of -9.88 and a beta of 1.19. The company's 50-day moving average is $12.37 and its two-hundred day moving average is $14.22.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last issued 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 net margin of 11.08% and a negative return on equity of 9.57%. The business had revenue of $293.18 million during the quarter, compared to the consensus estimate of $282.24 million. During the same period last year, the business posted ($0.04) EPS. The firm's revenue for the quarter was up 1.6% compared to the same quarter last year. Equities analysts anticipate that Atlas Energy Solutions will post -0.95 earnings per share for the current year.

Institutional Trading of Atlas Energy Solutions

Several hedge funds have recently added to or reduced their stakes in the business. Encompass Capital Advisors LLC acquired a new position in Atlas Energy Solutions in the first quarter valued at about $119,854,000. Wasatch Advisors LP acquired a new stake in shares of Atlas Energy Solutions during the second quarter worth about $30,468,000. Dimensional Fund Advisors LP lifted its holdings in shares of Atlas Energy Solutions by 12.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,502,480 shares of the company's stock valued at $19,713,000 after purchasing an additional 167,758 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Atlas Energy Solutions by 81.2% during the 1st quarter. Bank of America Corp DE now owns 526,613 shares of the company's stock valued at $6,909,000 after purchasing an additional 236,010 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in shares of Atlas Energy Solutions by 48.3% during the 1st quarter. Lazard Asset Management LLC now owns 525,301 shares of the company's stock valued at $6,892,000 after purchasing an additional 171,188 shares in the last quarter. Institutional investors and hedge funds own 34.59% of the company's stock.

Atlas Energy Solutions Company Profile

Atlas Energy Solutions Inc NYSE: AESI is an energy-services company that supplies proppant and logistics solutions to oil and natural gas producers. Its primary products include frac sand, which is used in hydraulic fracturing to help keep underground rock fractures open and improve the flow of hydrocarbons.

The company operates sand mines, processing facilities, and related infrastructure in the Permian Basin of West Texas. In addition to producing and selling proppant, Atlas provides transportation, storage, and last-mile delivery services designed to move sand from its facilities to well sites.

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