Brokerages Set Atlas Energy Solutions Inc. (NYSE:AESI) Target Price at $19.28

Atlas Energy Solutions Inc. (NYSE:AESI - Get Free Report) has been assigned an average recommendation of "Hold" from the eleven ratings firms that are currently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $19.28.

A number of brokerages recently issued reports on AESI. Royal Bank Of Canada dropped their target price on shares of Atlas Energy Solutions from $21.00 to $17.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. The Goldman Sachs Group dropped their target price on shares of Atlas Energy Solutions from $22.00 to $15.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Stifel Nicolaus began coverage on shares of Atlas Energy Solutions in a research report on Wednesday, May 21st. They set a "buy" rating and a $15.00 target price for the company. Piper Sandler dropped their target price on shares of Atlas Energy Solutions from $22.00 to $17.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Finally, Citigroup dropped their target price on shares of Atlas Energy Solutions from $18.00 to $14.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th.

Insider Activity

In other Atlas Energy Solutions news, Director Douglas G. Rogers bought 7,000 shares of Atlas Energy Solutions stock in a transaction dated Wednesday, May 14th. The shares were bought at an average price of $13.27 per share, with a total value of $92,890.00. Following the purchase, the director owned 10,000 shares of the company's stock, valued at $132,700. This trade represents a 233.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Ben M. Brigham bought 9,635 shares of Atlas Energy Solutions stock in a transaction dated Wednesday, May 14th. The stock was acquired at an average cost of $13.38 per share, for a total transaction of $128,916.30. Following the purchase, the chairman directly owned 572,397 shares in the company, valued at approximately $7,658,671.86. The trade was a 1.71% increase in their position. The disclosure for this purchase can be found here. 15.98% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC bought a new position in shares of Atlas Energy Solutions in the 1st quarter valued at about $912,000. DAVENPORT & Co LLC boosted its stake in shares of Atlas Energy Solutions by 65.5% in the 1st quarter. DAVENPORT & Co LLC now owns 75,800 shares of the company's stock valued at $1,352,000 after purchasing an additional 30,000 shares during the last quarter. New York State Teachers Retirement System boosted its stake in Atlas Energy Solutions by 9.3% during the 1st quarter. New York State Teachers Retirement System now owns 14,161 shares of the company's stock worth $253,000 after acquiring an additional 1,200 shares during the last quarter. Fifth Third Bancorp boosted its stake in Atlas Energy Solutions by 1,240.1% during the 1st quarter. Fifth Third Bancorp now owns 1,970 shares of the company's stock worth $35,000 after acquiring an additional 1,823 shares during the last quarter. Finally, Prudential Financial Inc. bought a new position in Atlas Energy Solutions during the 4th quarter worth approximately $1,366,000. Institutional investors own 34.59% of the company's stock.

Atlas Energy Solutions Price Performance

Shares of AESI stock traded up $0.14 during mid-day trading on Friday, reaching $14.40. The company's stock had a trading volume of 877,522 shares, compared to its average volume of 1,394,487. Atlas Energy Solutions has a 1-year low of $11.76 and a 1-year high of $26.86. The company has a market cap of $1.78 billion, a P/E ratio of 46.45 and a beta of 1.20. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.40 and a current ratio of 1.62. The firm's 50-day moving average is $13.43 and its two-hundred day moving average is $17.18.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.10). The firm had revenue of $297.59 million for the quarter, compared to analyst estimates of $291.13 million. Atlas Energy Solutions had a return on equity of 4.99% and a net margin of 2.96%. The company's revenue for the quarter was up 54.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.26 EPS. On average, research analysts predict that Atlas Energy Solutions will post 0.83 earnings per share for the current year.

Atlas Energy Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.94%. The ex-dividend date of this dividend was Thursday, May 15th. Atlas Energy Solutions's payout ratio is presently 322.58%.

Atlas Energy Solutions Company Profile

Atlas Energy Solutions Inc engages in the production, processing, and sale of mesh and sand that are used as a proppant during the well completion process in the Permian Basin of Texas and New Mexico. The company provides transportation and logistics, storage solutions, and contract labor services. It sells its products and services to oil and natural gas exploration and production companies, and oilfield services companies.