Atlas Energy Solutions (NYSE:AESI) Reaches New 1-Year Low Following Analyst Downgrade

Key Points

• Atlas Energy Solutions hit a new 52-week low, trading as low as $5.08 after Stifel Nicolaus cut its price target from $25 to $21, while maintaining a Buy rating.
• Analyst views are mixed: six rate the stock Buy, three Hold and three Sell. MarketBeat reports an average rating of Hold and an average price target of $16.50.
• Latest quarterly results showed an EPS loss of $0.36, worse than the $0.24 loss analysts expected, while revenue of $267.78 million topped estimates and rose 3.1% year over year.

Atlas Energy Solutions Inc. (NYSE:AESI - Get Free Report) shares hit a new 52-week low during trading on Tuesday after Stifel Nicolaus lowered their price target on the stock from $25.00 to $21.00. Stifel Nicolaus currently has a buy rating on the stock. Atlas Energy Solutions traded as low as $5.08 and last traded at $5.4170, with a volume of 465,692 shares trading hands. The stock had previously closed at $5.54.

Several other equities analysts have also recently commented on the stock. Royal Bank Of Canada lowered their price target on shares of Atlas Energy Solutions from $16.00 to $13.00 and set a "sector perform" rating on the stock in a report on Wednesday, November 4th. Piper Sandler dropped their price target on shares of Atlas Energy Solutions from $15.00 to $13.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 4th. Zacks Research lowered Atlas Energy Solutions from a "hold" rating to a "strong sell" rating in a report on Tuesday, October 20th. 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. Finally, The Goldman Sachs Group set a $12.00 target price on Atlas Energy Solutions in a research note on Friday, August 7th. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $16.50.

Institutional Investors Weigh In On Atlas Energy Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. boosted its holdings in Atlas Energy Solutions by 49.7% during the third quarter. Hantz Financial Services Inc. now owns 7,117 shares of the company's stock valued at $85,000 after acquiring an additional 2,362 shares during the period. Maryland State Retirement & Pension System grew its position in shares of Atlas Energy Solutions by 60.6% in the third quarter. Maryland State Retirement & Pension System now owns 18,167 shares of the company's stock valued at $218,000 after purchasing an additional 6,856 shares during the last quarter. CenterBook Partners LP increased its stake in shares of Atlas Energy Solutions by 84.8% in the third quarter. CenterBook Partners LP now owns 1,180,943 shares of the company's stock worth $14,183,000 after purchasing an additional 541,774 shares during the period. Argentarii LLC increased its stake in shares of Atlas Energy Solutions by 3.4% in the third quarter. Argentarii LLC now owns 187,384 shares of the company's stock worth $2,250,000 after purchasing an additional 6,091 shares during the period. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in shares of Atlas Energy Solutions in the third quarter worth about $9,992,000. 34.59% of the stock is currently owned by institutional investors and hedge funds.

Atlas Energy Solutions Stock Down 2.9%

The company has a current ratio of 1.22, a quick ratio of 1.58 and a debt-to-equity ratio of 0.92. The firm has a market cap of $672.50 million, a price-to-earnings ratio of -4.82 and a beta of 1.29. The firm has a 50-day moving average of $11.15 and a two-hundred day moving average of $13.23.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last released its earnings results on Monday, November 2nd. The company reported ($0.36) earnings per share (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 12.38%. The business had revenue of $267.78 million during the quarter, compared to analyst estimates of $265.32 million. During the same period last year, the business earned ($0.19) EPS. The business's quarterly revenue was up 3.1% compared to the same quarter last year. As a group, sell-side analysts predict that Atlas Energy Solutions Inc. will post -0.95 earnings per share for the current fiscal year.

Atlas Energy Solutions Company Profile

Atlas Energy Solutions Inc is a U.S. energy-services company that supplies proppant, primarily frac sand, used in hydraulic fracturing. The company mines, processes and distributes sand for oil and natural gas operators.

Atlas also provides logistics services to move proppant from its facilities to well sites, including transportation and storage. Its operations are focused on the Permian Basin in West Texas and southeastern New Mexico, a major oil and gas producing region.

Founded in 2017, the company has developed an integrated supply and logistics network serving energy producers in the region.

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