Atlas Energy Solutions (NYSE:AESI) Downgraded to “Neutral” Rating by The Goldman Sachs Group

Atlas Energy Solutions (NYSE:AESI) was downgraded by The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday, FinViz reports. They presently have a $21.00 price objective on the stock, down from their previous price objective of $23.00. The Goldman Sachs Group’s price objective indicates a potential downside of 1.96% from the company’s previous close.

Several other analysts also recently weighed in on the stock. Pickering Energy Partners downgraded shares of Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 30th. Benchmark reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Bank of America reduced their price target on Atlas Energy Solutions from $25.00 to $24.00 and set a “buy” rating for the company in a report on Monday, July 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $25.00 price objective on shares of Atlas Energy Solutions in a report on Wednesday, October 30th. Finally, Stephens reissued an “overweight” rating and issued a $28.00 target price on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Atlas Energy Solutions presently has an average rating of “Buy” and a consensus price target of $25.25.

Atlas Energy Solutions Stock Performance

NYSE AESI opened at $21.42 on Thursday. The firm has a market cap of $2.35 billion, a P/E ratio of 27.11, a P/E/G ratio of 10.60 and a beta of 0.69. Atlas Energy Solutions has a 52-week low of $15.55 and a 52-week high of $24.93. The business’s 50-day moving average price is $20.90 and its 200 day moving average price is $21.16. The company has a quick ratio of 1.08, a current ratio of 1.23 and a debt-to-equity ratio of 0.42.

Atlas Energy Solutions (NYSE:AESI) last released its earnings results on Monday, October 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.25). Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The company had revenue of $304.40 million during the quarter, compared to analyst estimates of $307.93 million. During the same period in the previous year, the firm posted $0.51 EPS. The company’s revenue for the quarter was up 93.1% on a year-over-year basis. On average, equities research analysts expect that Atlas Energy Solutions will post 0.8 earnings per share for the current year.

Insider Buying and Selling at Atlas Energy Solutions

In other news, major shareholder Stacy Hock sold 8,571 shares of Atlas Energy Solutions stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $20.22, for a total transaction of $173,305.62. Following the completion of the sale, the insider now directly owns 951,888 shares in the company, valued at $19,247,175.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, major shareholder Stacy Hock sold 8,571 shares of Atlas Energy Solutions stock in a transaction on Monday, August 19th. The stock was sold at an average price of $20.22, for a total value of $173,305.62. Following the completion of the sale, the insider now owns 951,888 shares of the company’s stock, valued at $19,247,175.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Brian Anthony Leveille sold 10,000 shares of Atlas Energy Solutions stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $21.02, for a total value of $210,200.00. Following the completion of the sale, the insider now owns 532,010 shares of the company’s stock, valued at $11,182,850.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 60,869 shares of company stock worth $1,187,983 and have sold 45,713 shares worth $939,317. 24.34% of the stock is owned by insiders.

Hedge Funds Weigh In On Atlas Energy Solutions

A number of large investors have recently bought and sold shares of AESI. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Atlas Energy Solutions in the 1st quarter worth about $307,000. BNP Paribas Financial Markets acquired a new stake in Atlas Energy Solutions in the 1st quarter valued at $202,000. Quantbot Technologies LP acquired a new position in shares of Atlas Energy Solutions during the first quarter worth about $592,000. Swiss National Bank purchased a new stake in shares of Atlas Energy Solutions in the first quarter worth about $893,000. Finally, Tectonic Advisors LLC grew its stake in shares of Atlas Energy Solutions by 14.4% in the first quarter. Tectonic Advisors LLC now owns 54,646 shares of the company’s stock valued at $1,236,000 after buying an additional 6,873 shares in the last quarter. Hedge funds and other institutional investors own 34.59% of the company’s stock.

About Atlas Energy Solutions

Atlas Energy Solutions Inc engages in the production, processing, and sale of mesh and sand that are used as a proppant during the well completion process in the Permian Basin of Texas and New Mexico. The company provides transportation and logistics, storage solutions, and contract labor services. It sells its products and services to oil and natural gas exploration and production companies, and oilfield services companies.