Atlas Energy Solutions (NYSE:AESI) Issues Quarterly Earnings Results

Key Points

• Atlas Energy Solutions reported a quarterly earnings per share of (-0.04), missing the consensus estimate of (0.15) by (0.19), despite a 0.4% increase in revenue from the previous year.
• The company's stock price declined by $0.11 to $12.40 amid mixed analyst ratings, with a consensus rating of "Hold" and an average price target of $19.11.
• Insider activity indicated confidence in the company, as directors purchased shares; Director Douglas G. Rogers increased his position by 233.33%, and Chairman Ben M. Brigham acquired additional shares as well.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) announced its quarterly earnings data on Monday. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.19), Briefing.com reports. Atlas Energy Solutions had a net margin of 2.96% and a return on equity of 4.99%. The business's revenue was up .4% compared to the same quarter last year. During the same period last year, the firm earned $0.13 earnings per share.

Atlas Energy Solutions Stock Performance

AESI traded down $0.11 during trading on Monday, hitting $12.40. 1,702,204 shares of the company traded hands, compared to its average volume of 1,329,260. The stock's fifty day moving average is $13.63 and its 200 day moving average is $16.17. Atlas Energy Solutions has a one year low of $11.76 and a one year high of $26.86. The firm has a market cap of $1.53 billion, a P/E ratio of 25.53 and a beta of 1.19. The company has a quick ratio of 1.40, a current ratio of 1.62 and a debt-to-equity ratio of 0.38.

Insider Buying and Selling at Atlas Energy Solutions

In related news, Director Douglas G. Rogers bought 7,000 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were purchased at an average price of $13.27 per share, for a total transaction of $92,890.00. Following the completion of the transaction, the director directly owned 10,000 shares in the company, valued at approximately $132,700. The trade was a 233.33% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Ben M. Brigham acquired 9,635 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was acquired at an average price of $13.38 per share, for a total transaction of $128,916.30. Following the transaction, the chairman directly owned 572,397 shares of the company's stock, valued at $7,658,671.86. This represents 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 corporate insiders.

Institutional Investors Weigh In On Atlas Energy Solutions

Institutional investors and hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Atlas Energy Solutions by 14.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,209 shares of the company's stock worth $789,000 after purchasing an additional 5,579 shares during the last quarter. Royal Bank of Canada boosted its position in Atlas Energy Solutions by 26.0% during the 1st quarter. Royal Bank of Canada now owns 249,793 shares of the company's stock valued at $4,456,000 after acquiring an additional 51,477 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Atlas Energy Solutions by 18.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,409,054 shares of the company's stock valued at $25,138,000 after acquiring an additional 219,834 shares in the last quarter. Hedge funds and other institutional investors own 34.59% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Royal Bank Of Canada decreased their price target on Atlas Energy Solutions from $21.00 to $17.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Citigroup cut their target price on Atlas Energy Solutions from $18.00 to $14.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Piper Sandler reissued a "neutral" rating and issued a $16.00 price objective on shares of Atlas Energy Solutions in a research note on Tuesday, July 15th. The Goldman Sachs Group dropped their price objective on Atlas Energy Solutions from $22.00 to $15.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Finally, Stifel Nicolaus dropped their price target on Atlas Energy Solutions from $15.00 to $14.50 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $19.11.

About Atlas Energy Solutions

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.

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