Atlas Energy Solutions Inc. (NYSE:AESI) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Analysts rate Atlas Energy Solutions “Hold” on average: Of 11 analysts, five recommend buying, four recommend holding and two recommend selling. The average 12-month price target is $17.22, versus the stock’s reported $12.01 price.
• Institutional ownership has increased: Several hedge funds initiated or expanded positions, while institutional investors collectively own 34.59% of the company.
• Recent results were mixed: Quarterly revenue of $293.18 million exceeded estimates and rose 1.6% year over year, but the company reported an adjusted loss of $0.20 per share, worse than the expected $0.15 loss.

Atlas Energy Solutions Inc. (NYSE:AESI - Get Free Report) has been assigned a consensus rating of "Hold" from the eleven brokerages that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $17.22.

A number of equities analysts have issued reports on AESI shares. Stifel Nicolaus cut their target price on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a "buy" rating on the stock in a report on Thursday, August 6th. The Goldman Sachs Group set a $12.00 target price on Atlas Energy Solutions in a report on Friday, August 7th. Scotiabank initiated coverage on Atlas Energy Solutions in a research report on Tuesday, September 29th. They set a "sector outperform" rating and a $14.00 price target on the stock. Weiss Ratings downgraded Atlas Energy Solutions from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, August 7th. Finally, Citigroup reduced their price objective on Atlas Energy Solutions from $21.00 to $17.00 and set a "buy" rating for the company in a research report on Thursday, September 3rd.

Institutional Investors Weigh In On Atlas Energy Solutions

Hedge funds have recently added to or reduced their stakes in the stock. Encompass Capital Advisors LLC bought a new position in shares of Atlas Energy Solutions during the first quarter worth about $119,854,000. Wasatch Advisors LP acquired a new stake in shares of Atlas Energy Solutions in the 2nd quarter worth about $30,468,000. Dimensional Fund Advisors LP lifted its position in Atlas Energy Solutions by 12.6% in 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 during the last quarter. Kennedy Capital Management LLC lifted its position in Atlas Energy Solutions by 39.3% in the 4th quarter. Kennedy Capital Management LLC now owns 1,254,992 shares of the company's stock valued at $11,822,000 after purchasing an additional 354,130 shares during the last quarter. Finally, Nixon Capital LLC acquired a new position in Atlas Energy Solutions during the 4th quarter valued at about $11,284,000. 34.59% of the stock is currently owned by institutional investors.

Atlas Energy Solutions Stock Performance

Atlas Energy Solutions stock opened at $12.01 on Monday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.82 and a quick ratio of 1.58. Atlas Energy Solutions has a 12 month low of $7.64 and a 12 month high of $20.13. The company has a fifty day moving average price of $12.33 and a two-hundred day moving average price of $14.41. The company has a market cap of $1.50 billion, a PE ratio of -12.65 and a beta of 1.19.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.05). Atlas Energy Solutions had a negative return on equity of 9.57% and a negative net margin of 11.08%.The business had revenue of $293.18 million during the quarter, compared to the consensus estimate of $282.24 million. During the same quarter in the previous year, the business posted ($0.04) earnings per share. The company's quarterly revenue was up 1.6% compared to the same quarter last year. Research analysts expect that Atlas Energy Solutions will post -0.94 earnings per share for the current year.

Atlas Energy Solutions Company Profile

Atlas Energy Solutions Inc NYSE: AESI is a provider of proppant and logistics services for the oil and natural gas industry. The company primarily serves exploration and production companies operating in the Permian Basin, one of the largest onshore oil-producing regions in the United States.

Atlas produces and supplies frac sand, a specialized proppant used in hydraulic fracturing to help keep fractures open and improve the flow of hydrocarbons from underground formations. Its operations include sand mining, processing, storage and distribution, with facilities located in or near the Permian Basin of West Texas.

The company also provides transportation and logistics solutions designed to move large volumes of proppant from its mines to well sites.

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