Atlas Energy Solutions Inc. $AESI Stock: CenterBook Partners LP Grows Holdings

Key Points

• CenterBook Partners increased its Atlas Energy Solutions stake by 84.8% in the third quarter, adding 541,774 shares to reach 1.18 million shares, worth about $14.2 million. Institutional investors collectively own 34.59% of the company.
• AESI shares traded at $5.36, near their 12-month low of $5.12 and well below the 12-month high of $20.13. Analysts’ average rating is Hold, with an average price target of $16.90.
• The company reported a quarterly loss of $0.36 per share, worse than analysts’ expected $0.24 loss, while revenue of $267.78 million topped estimates and rose 3.1% year over year.

CenterBook Partners LP increased its stake in shares of Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 84.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,180,943 shares of the company's stock after buying an additional 541,774 shares during the quarter. Atlas Energy Solutions accounts for 0.6% of CenterBook Partners LP's investment portfolio, making the stock its 27th largest holding. CenterBook Partners LP owned 0.94% of Atlas Energy Solutions worth $14,183,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in AESI. Encompass Capital Advisors LLC purchased a new position in shares of Atlas Energy Solutions in the 1st quarter worth approximately $119,854,000. Wasatch Advisors LP purchased a new stake in shares of Atlas Energy Solutions during the 2nd quarter valued at $30,468,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new stake in shares of Atlas Energy Solutions during the 3rd quarter worth $9,992,000. Bank of New York Mellon Corp bought a new stake in Atlas Energy Solutions in the second quarter worth about $7,765,000. Finally, Bank of America Corp DE grew its position in shares of Atlas Energy Solutions by 81.2% during the 1st quarter. Bank of America Corp DE now owns 526,613 shares of the company's stock valued at $6,909,000 after acquiring an additional 236,010 shares during the period. Hedge funds and other institutional investors own 34.59% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. 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 report on Thursday, September 3rd. Barclays dropped their price objective on shares of Atlas Energy Solutions from $14.00 to $13.00 and set an "equal weight" rating on the stock in a report on Thursday, October 15th. 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 reduced their target price on shares of Atlas Energy Solutions from $22.00 to $20.00 and set an "overweight" rating for the company in a research note on Monday, October 5th. Finally, Glj Research assumed coverage on shares of Atlas Energy Solutions in a research report on Wednesday, October 28th. They issued a "buy" rating and a $13.00 price target on the stock. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $16.90.

Atlas Energy Solutions Price Performance

NYSE:AESI traded up $0.04 during mid-day trading on Friday, hitting $5.36. 6,596,395 shares of the stock traded hands, compared to its average volume of 3,690,576. The business's 50-day moving average price is $11.29 and its 200 day moving average price is $13.26. The company has a quick ratio of 1.58, a current ratio of 1.82 and a debt-to-equity ratio of 0.87. The company has a market cap of $669.62 million, a PE ratio of -4.78 and a beta of 1.29. Atlas Energy Solutions Inc. has a 12-month low of $5.12 and a 12-month high of $20.13.

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

Atlas Energy Solutions Profile

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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