Atlas Energy Solutions (NYSE:AESI) Announces Quarterly Earnings Results

Atlas Energy Solutions (NYSE:AESI) announced its earnings results on Monday. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.20), Briefing.com reports. Atlas Energy Solutions had a return on equity of 3.11% and a net margin of 1.20%.The business’s revenue for the quarter was down 14.7% on a year-over-year basis. During the same quarter last year, the company earned $0.04 EPS.

Atlas Energy Solutions Stock Up 1.8%

AESI traded up $0.22 during trading on Monday, reaching $12.60. 4,717,598 shares of the stock were exchanged, compared to its average volume of 2,736,920. The stock has a market cap of $1.56 billion, a P/E ratio of 37.51 and a beta of 1.17. Atlas Energy Solutions has a twelve month low of $10.01 and a twelve month high of $26.86. The stock’s 50 day moving average price is $11.18 and its two-hundred day moving average price is $12.50. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.30 and a current ratio of 1.56.

Hedge Funds Weigh In On Atlas Energy Solutions

Institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC acquired a new position in Atlas Energy Solutions during the second quarter worth $25,000. BNP Paribas Financial Markets increased its holdings in Atlas Energy Solutions by 43.4% during the second quarter. BNP Paribas Financial Markets now owns 7,823 shares of the company’s stock worth $105,000 after buying an additional 2,369 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Atlas Energy Solutions by 34.8% during the second quarter. Tower Research Capital LLC TRC now owns 8,954 shares of the company’s stock worth $120,000 after purchasing an additional 2,314 shares during the period. M&T Bank Corp bought a new position in Atlas Energy Solutions during the second quarter worth $146,000. Finally, Osaic Holdings Inc. boosted its position in Atlas Energy Solutions by 20.1% during the second quarter. Osaic Holdings Inc. now owns 11,888 shares of the company’s stock worth $159,000 after purchasing an additional 1,989 shares during the period. 34.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on AESI shares. Piper Sandler dropped their target price on shares of Atlas Energy Solutions from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, October 16th. Barclays lowered their price objective on shares of Atlas Energy Solutions from $12.00 to $11.00 and set an “equal weight” rating on the stock in a report on Monday, October 13th. Citigroup lowered their price objective on shares of Atlas Energy Solutions from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Wednesday, October 1st. Weiss Ratings reiterated a “sell (d+)” rating on shares of Atlas Energy Solutions in a report on Wednesday, October 8th. Finally, Stifel Nicolaus lowered their price objective on shares of Atlas Energy Solutions from $14.50 to $14.00 and set a “buy” rating on the stock in a report on Monday, August 11th. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $17.39.

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.