Bank of America Corp DE Buys 236,010 Shares of Atlas Energy Solutions Inc. $AESI

Key Points

• Bank of America increased its Atlas Energy Solutions stake by 81.2% in the first quarter, purchasing 236,010 shares to bring its holdings to 526,613 shares, or 0.42% of the company.
• Analysts remain divided, with four Buy, three Hold, and three Sell ratings; the consensus rating is Hold with an $18.12 price target, despite targets ranging from $12 to $25.
• Atlas Energy Solutions reported a quarterly loss of $0.20 per share, missing estimates by $0.05, while revenue reached $293.18 million—up 1.6% year over year and above expectations.

Bank of America Corp DE raised its position in shares of Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 81.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 526,613 shares of the company's stock after purchasing an additional 236,010 shares during the period. Bank of America Corp DE owned 0.42% of Atlas Energy Solutions worth $6,909,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of AESI. Thrivent Financial for Lutherans boosted its position in Atlas Energy Solutions by 1.7% during the second quarter. Thrivent Financial for Lutherans now owns 53,631 shares of the company's stock worth $717,000 after purchasing an additional 874 shares during the period. Cetera Investment Advisers raised its position in shares of Atlas Energy Solutions by 6.9% in the first quarter. Cetera Investment Advisers now owns 21,094 shares of the company's stock valued at $277,000 after purchasing an additional 1,357 shares during the period. Citizens Financial Group Inc. RI raised its position in shares of Atlas Energy Solutions by 6.0% in the first quarter. Citizens Financial Group Inc. RI now owns 23,966 shares of the company's stock valued at $314,000 after purchasing an additional 1,364 shares during the period. Alliancebernstein L.P. boosted its holdings in Atlas Energy Solutions by 2.1% in the 3rd quarter. Alliancebernstein L.P. now owns 72,580 shares of the company's stock worth $825,000 after buying an additional 1,500 shares during the period. Finally, Comerica Bank boosted its holdings in Atlas Energy Solutions by 2.2% in the 3rd quarter. Comerica Bank now owns 70,197 shares of the company's stock worth $798,000 after buying an additional 1,504 shares during the period. 34.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. The Goldman Sachs Group set a $12.00 target price on Atlas Energy Solutions in a research report on Friday, August 7th. Royal Bank Of Canada reduced their price target on Atlas Energy Solutions from $21.00 to $17.00 and set a "sector perform" rating for the company in a research report on Wednesday, August 5th. Raymond James Financial upgraded Atlas Energy Solutions from a "market perform" rating to an "outperform" rating and set a $25.00 price objective on the stock in a research note on Tuesday, June 2nd. Stifel Nicolaus dropped their price objective on Atlas Energy Solutions from $28.00 to $25.00 and set a "buy" rating on the stock in a report on Thursday, August 6th. Finally, Citigroup cut their target price on Atlas Energy Solutions from $22.00 to $21.00 and set a "buy" rating for the company in a research note on Wednesday, July 15th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $18.12.

Atlas Energy Solutions Price Performance

Shares of NYSE AESI opened at $12.00 on Wednesday. The firm has a market capitalization of $1.50 billion, a P/E ratio of -12.63 and a beta of 1.13. 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 stock's 50-day simple moving average is $13.50 and its two-hundred day simple moving average is $14.14. Atlas Energy Solutions Inc. has a twelve month low of $7.64 and a twelve month high of $20.13.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last issued 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 net margin of 11.08% and a negative return on equity of 9.57%. The business had revenue of $293.18 million for the quarter, compared to the consensus estimate of $282.24 million. During the same quarter last year, the business posted ($0.04) EPS. The business's revenue was up 1.6% compared to the same quarter last year. As a group, equities analysts anticipate that Atlas Energy Solutions Inc. will post -0.94 EPS for the current fiscal year.

About Atlas Energy Solutions

Atlas Energy Solutions NYSE: AESI is an independent energy infrastructure company specializing in the development and operation of low-carbon and renewable natural gas (RNG) projects alongside complementary clean energy offerings. Through its diversified platform, the company seeks to deliver decarbonization solutions across heavy-duty transportation and industrial markets, leveraging technologies that reduce greenhouse gas emissions while providing reliable fuel and energy services.

The company’s core business activities encompass four primary segments.

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