CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Buys New Position in Atlas Energy Solutions Inc. $AESI

Key Points

• Cushing Asset Management initiated a position in Atlas Energy Solutions by purchasing 832,000 shares valued at approximately $9.99 million, representing a 0.67% stake.
• Institutional investors own 34.59% of AESI, while analyst sentiment is mixed: the stock has a consensus “Hold” rating and an average price target of $17.56.
• AESI opened at $8.99, near its one-year low of $7.64, and recently reported a quarterly loss of $0.20 per share despite revenue of $293.18 million, which exceeded estimates.

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 832,000 shares of the company's stock, valued at approximately $9,992,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned 0.67% of Atlas Energy Solutions as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. State of Wyoming purchased a new position in Atlas Energy Solutions during the first quarter valued at approximately $48,000. Abel Hall LLC bought a new position in shares of Atlas Energy Solutions in the first quarter worth approximately $131,000. Fifth Third Bancorp boosted its position in shares of Atlas Energy Solutions by 5,434.5% in the first quarter. Fifth Third Bancorp now owns 17,987 shares of the company's stock worth $236,000 after purchasing an additional 17,662 shares during the period. Cetera Investment Advisers increased its stake 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 worth $277,000 after purchasing an additional 1,357 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Atlas Energy Solutions in the second quarter worth $278,000. 34.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AESI has been the topic of a number of analyst reports. Barclays lowered their target price on shares of Atlas Energy Solutions from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 15th. Stephens cut 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 report on Monday, October 5th. Zacks Research lowered Atlas Energy Solutions from a "hold" rating to a "strong sell" rating in a research note on Tuesday, October 20th. Scotiabank initiated coverage on shares of Atlas Energy Solutions in a research note on Tuesday, September 29th. They issued a "sector outperform" rating and a $14.00 price objective for the company. Finally, Royal Bank Of Canada reduced their price target on shares of Atlas Energy Solutions from $21.00 to $17.00 and set a "sector perform" rating on the stock in a research note on Wednesday, August 5th. Five 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 data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $17.56.

Atlas Energy Solutions Stock Performance

AESI stock opened at $8.99 on Tuesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.82 and a quick ratio of 1.58. The business has a 50-day moving average price of $12.14 and a 200 day moving average price of $13.39. The company has a market capitalization of $1.12 billion, a P/E ratio of -9.47 and a beta of 1.19. Atlas Energy Solutions Inc. has a 1-year low of $7.64 and a 1-year high of $20.13.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last issued its earnings results on Monday, August 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $282.24 million. During the same quarter in the previous year, the company earned ($0.04) earnings per share. The firm's revenue was up 1.6% on a year-over-year basis. As a group, equities research analysts forecast that Atlas Energy Solutions Inc. will post -0.95 EPS for the current fiscal year.

Atlas Energy Solutions Company 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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