Atlas Energy Solutions (NYSE:AESI) Stock Price Target Cut by Royal Bank Of Canada

Key Points

• Royal Bank of Canada cut its Atlas Energy Solutions price target to $13 from $16 while maintaining a “sector perform” rating; the new target implies about 91% upside from the cited share price.
• AESI shares fell 16.4% to $6.80, near their 52-week low of $6.81.
• The company reported a quarterly loss of $0.36 per share, worse than the $0.24 loss analysts expected, although revenue of $267.78 million exceeded estimates and rose 3.1% year over year.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) had its price target dropped by investment analysts at Royal Bank Of Canada from $16.00 to $13.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target would indicate a potential upside of 91.12% from the company's current price.

AESI has been the subject of several other research reports. Zacks Research lowered shares of Atlas Energy Solutions from a "hold" rating to a "strong sell" rating in a research report on Tuesday, October 20th. Stephens decreased their price target on shares of Atlas Energy Solutions from $22.00 to $20.00 and set an "overweight" rating on the stock in a report on Monday, October 5th. Citigroup lowered their price objective on shares of 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. Weiss Ratings downgraded Atlas Energy Solutions from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, August 7th. Finally, Barclays cut their target price on Atlas Energy Solutions from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 15th. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, Atlas Energy Solutions has a consensus rating of "Hold" and a consensus price target of $16.70.

Atlas Energy Solutions Trading Down 16.4%

Shares of AESI stock traded down $1.34 during mid-day trading on Wednesday, hitting $6.80. 3,423,935 shares of the company's stock were exchanged, compared to its average volume of 3,602,555. The stock has a market cap of $850.25 million, a price-to-earnings ratio of -6.09 and a beta of 1.29. The company has a quick ratio of 1.58, a current ratio of 1.82 and a debt-to-equity ratio of 0.87. Atlas Energy Solutions has a fifty-two week low of $6.81 and a fifty-two week high of $20.13. The stock has a 50-day simple moving average of $11.68 and a two-hundred day simple moving average of $13.34.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last released its earnings results on Monday, November 2nd. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.12). The business had revenue of $267.78 million during the quarter, compared to analyst estimates of $265.32 million. Atlas Energy Solutions had a negative net margin of 12.98% and a negative return on equity of 12.15%. The business's revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.19) earnings per share. Equities analysts expect that Atlas Energy Solutions will post -0.95 EPS for the current fiscal year.

Institutional Trading of Atlas Energy Solutions

Several institutional investors have recently added to or reduced their stakes in the stock. Encompass Capital Advisors LLC acquired a new position in shares of Atlas Energy Solutions in the 1st 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 approximately $30,468,000. Dimensional Fund Advisors LP boosted its holdings in shares of 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 purchasing an additional 167,758 shares during the period. CenterBook Partners LP grew its position in 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 purchasing an additional 541,774 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new position in Atlas Energy Solutions during the third quarter valued at approximately $9,992,000. 34.59% of the stock is owned by institutional investors and hedge funds.

About Atlas Energy Solutions

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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