Atlas Energy Solutions (NYSE:AESI) Releases Earnings Results

Atlas Energy Solutions (NYSE:AESI) posted its earnings results on Monday. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.12), FiscalAI reports. Atlas Energy Solutions had a negative return on equity of 9.57% and a negative net margin of 11.08%. The firm had revenue of $267.78 million for the quarter, compared to analysts’ expectations of $265.32 million. During the same period in the previous year, the company earned ($0.19) earnings per share. The company’s revenue was up 3.1% compared to the same quarter last year.

Atlas Energy Solutions Price Performance

Shares of Atlas Energy Solutions stock opened at $8.21 on Tuesday. The stock has a market capitalization of $1.03 billion, a P/E ratio of -8.64 and a beta of 1.19. The business has a 50 day simple moving average of $11.76 and a two-hundred day simple moving average of $13.36. Atlas Energy Solutions has a 12 month low of $7.64 and a 12 month high of $20.13. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.82 and a quick ratio of 1.58.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Weiss Ratings downgraded Atlas Energy Solutions from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, August 7th. Piper Sandler cut their price objective on Atlas Energy Solutions from $19.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, August 27th. Zacks Research lowered Atlas Energy Solutions from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 20th. Glj Research began coverage on shares of Atlas Energy Solutions in a report on Wednesday, October 28th. They issued a “buy” rating and a $13.00 price target for the company. Finally, Stephens reduced their price objective on shares of Atlas Energy Solutions from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Monday, October 5th. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.10.

About Atlas Energy Solutions

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.