Atlas Energy Solutions (NYSE:AESI) Stock Jumps 8.2% - Should You Buy?

Atlas Energy Solutions Inc. (NYSE:AESI - Get Free Report) shares shot up 8.2% during mid-day trading on Monday. The company traded as high as $13.08 and last traded at $13.0250. Approximately 1,331,414 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 3,570,825 shares. The stock had previously closed at $12.04.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Stifel Nicolaus decreased their price objective 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. Weiss Ratings cut shares of Atlas Energy Solutions from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, August 7th. Barclays upgraded shares of Atlas Energy Solutions from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $10.00 to $14.00 in a research report on Monday, September 28th. Piper Sandler decreased their price target on Atlas Energy Solutions from $19.00 to $15.00 and set a "neutral" rating on the stock in a research note on Thursday, August 27th. Finally, Royal Bank Of Canada lowered their price target on Atlas Energy Solutions from $21.00 to $17.00 and set a "sector perform" rating on the stock in a report on Wednesday, August 5th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $17.67.

Atlas Energy Solutions Stock Performance

The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of -13.70 and a beta of 1.19. The stock's 50 day moving average is $12.33 and its 200 day moving average is $14.41. The company has a current ratio of 1.82, a quick ratio of 1.58 and a debt-to-equity ratio of 0.87.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last announced its 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). The business had revenue of $293.18 million for the quarter, compared to analyst estimates of $282.24 million. Atlas Energy Solutions had a negative return on equity of 9.57% and a negative net margin of 11.08%.The business's revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.04) EPS. On average, analysts predict that Atlas Energy Solutions Inc. will post -0.94 earnings per share for the current year.

Institutional Investors Weigh In On Atlas Energy Solutions

Large investors have recently bought and sold shares of the stock. Cetera Investment Advisers grew its stake in shares of Atlas Energy Solutions by 6.9% during the 1st quarter. Cetera Investment Advisers now owns 21,094 shares of the company's stock valued at $277,000 after buying an additional 1,357 shares during the period. Citizens Financial Group Inc. RI increased its holdings in shares of Atlas Energy Solutions by 6.0% during the 1st quarter. Citizens Financial Group Inc. RI now owns 23,966 shares of the company's stock worth $314,000 after buying an additional 1,364 shares during the last quarter. Islay Capital Management LLC purchased a new position in shares of Atlas Energy Solutions in the 4th quarter worth $28,000. State of Wyoming purchased a new stake in Atlas Energy Solutions during the first quarter valued at about $48,000. Finally, Tactive Advisors LLC grew its position in Atlas Energy Solutions by 12.1% during the second quarter. Tactive Advisors LLC now owns 68,291 shares of the company's stock valued at $1,134,000 after acquiring an additional 7,359 shares during the period. Institutional investors and hedge funds own 34.59% of the company's stock.

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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