Atlas Energy Solutions (NYSE:AESI) Stock Gets Price Target Cut from Citigroup

Key Points

• Citigroup cut its Atlas Energy Solutions price target from $17 to $16 but maintained a Buy rating; the target implies 183.44% upside from the share price cited in the report.
• Analyst views are mixed: the stock has a consensus Hold rating and an average price target of $15.80, while six analysts rate it Buy, three Hold, and three Sell.
• Atlas reported a quarterly loss of $0.36 per share, missing estimates of a $0.24 loss, although revenue of $267.78 million topped expectations and rose 3.1% year over year. An insider also sold 890,500 shares over the past 90 days.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) had its price target dropped by Citigroup from $17.00 to $16.00 in a report released on Wednesday, Benzinga reports. The firm currently has a "buy" rating on the stock. Citigroup's price objective would suggest a potential upside of 183.44% from the company's current price.

Several other equities analysts have also weighed in on AESI. Stephens dropped their price objective on shares of Atlas Energy Solutions from $22.00 to $20.00 and set an "overweight" rating on the stock in a research report on Monday, October 5th. Royal Bank Of Canada decreased their price target on shares of Atlas Energy Solutions from $16.00 to $13.00 and set a "sector perform" rating on the stock in a research note on Wednesday, November 4th. Zacks Research lowered shares of Atlas Energy Solutions from a "hold" rating to a "strong sell" rating in a research note on Tuesday, October 20th. Weiss Ratings restated a "sell (d)" rating on shares of Atlas Energy Solutions in a report on Wednesday, November 4th. Finally, Glj Research started coverage on Atlas Energy Solutions in a research report on Wednesday, October 28th. They issued a "buy" rating and a $13.00 target price on the stock. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $15.80.

Atlas Energy Solutions Stock Up 5.3%

Shares of NYSE AESI traded up $0.28 during mid-day trading on Wednesday, hitting $5.64. The company had a trading volume of 1,792,105 shares, compared to its average volume of 3,697,645. The company has a market capitalization of $705.62 million, a PE ratio of -5.03 and a beta of 1.29. The firm has a 50-day simple moving average of $10.99 and a two-hundred day simple moving average of $13.20. The company has a current ratio of 1.22, a quick ratio of 0.99 and a debt-to-equity ratio of 0.92. Atlas Energy Solutions has a one year low of $5.08 and a one year high of $20.13.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last released its earnings results 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). The company had revenue of $267.78 million for the quarter, compared to the consensus estimate of $265.32 million. Atlas Energy Solutions had a negative return on equity of 12.38% and a negative net margin of 12.98%. The business's revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.19) EPS. On average, equities analysts expect that Atlas Energy Solutions will post -0.95 EPS for the current year.

Insider Activity at Atlas Energy Solutions

In related news, insider Gregory Shepard sold 500,000 shares of the firm's stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $5.32, for a total transaction of $2,660,000.00. Following the transaction, the insider directly owned 6,921,210 shares of the company's stock, valued at approximately $36,820,837.20. This trade represents a 6.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 890,500 shares of company stock valued at $4,754,980 in the last 90 days. Corporate insiders own 16.40% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Advisors Asset Management Inc. acquired a new stake in Atlas Energy Solutions during the third quarter worth approximately $3,283,000. Ieq Capital LLC raised its holdings in Atlas Energy Solutions by 7.6% in the 3rd quarter. Ieq Capital LLC now owns 64,951 shares of the company's stock valued at $780,000 after acquiring an additional 4,576 shares in the last quarter. Public Sector Pension Investment Board raised its holdings in Atlas Energy Solutions by 105.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 546,658 shares of the company's stock valued at $6,543,000 after acquiring an additional 280,598 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of Atlas Energy Solutions by 494.1% during the 3rd quarter. Global Retirement Partners LLC now owns 14,414 shares of the company's stock valued at $173,000 after acquiring an additional 11,988 shares during the period. Finally, Roubaix Capital LLC bought a new stake in shares of Atlas Energy Solutions during the 3rd quarter valued at $3,895,000. Institutional investors and hedge funds own 34.59% of the company's stock.

Recent Atlas Energy Solutions Headlines

These are some of the AESI headlines that stood out recently:

• Positive Sentiment: A Seeking Alpha article characterized emerging tailwinds as a reason to view Atlas Energy Solutions as a “strong buy,” providing a bullish counterpoint to recent concerns. Article: Atlas Energy Solutions: Emerging Tailwinds Make It A Strong Buy
• Negative Sentiment: Barclays cut its price target to $7 from $13 and reiterated an “equal weight” rating. Although the new target implies upside from the cited share price, the steep reduction signals a more cautious outlook. Barclays ratings
• Negative Sentiment: Insider Gregory Shepard sold 890,500 shares across transactions on November 6, 9 and 10, for about $4.75 million in total. The repeated sales could raise concern, though he retained roughly 6.53 million shares after the latest sale. SEC filing for insider transactions

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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