Atlas Energy Solutions (NYSE:AESI) Releases Earnings Results, Misses Estimates By $0.10 EPS

Atlas Energy Solutions (NYSE:AESI) released its earnings results on Monday. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.10), Zacks reports. The company had revenue of $259.61 million during the quarter, compared to analyst estimates of $279.48 million. Atlas Energy Solutions had a return on equity of 3.11% and a net margin of 1.20%.Atlas Energy Solutions’s revenue was down 14.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.04 earnings per share.

Atlas Energy Solutions Trading Up 1.8%

Atlas Energy Solutions stock opened at $12.60 on Tuesday. Atlas Energy Solutions has a 52 week low of $10.01 and a 52 week high of $26.86. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.30 and a current ratio of 1.56. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 90.03 and a beta of 1.16. The company has a 50 day moving average price of $11.18 and a 200 day moving average price of $12.50.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Atlas Energy Solutions

A number of institutional investors have recently modified their holdings of AESI. Goldman Sachs Group Inc. grew its position in Atlas Energy Solutions by 18.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,409,054 shares of the company’s stock valued at $25,138,000 after acquiring an additional 219,834 shares during the period. Pine Ridge Advisers LLC increased its position in shares of Atlas Energy Solutions by 83.7% during the 2nd quarter. Pine Ridge Advisers LLC now owns 1,212,980 shares of the company’s stock worth $16,218,000 after purchasing an additional 552,500 shares in the last quarter. Frontier Capital Management Co. LLC boosted its position in Atlas Energy Solutions by 28.6% in the second quarter. Frontier Capital Management Co. LLC now owns 1,092,689 shares of the company’s stock valued at $14,609,000 after buying an additional 243,095 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Atlas Energy Solutions by 431.2% during the second quarter. Ameriprise Financial Inc. now owns 829,348 shares of the company’s stock worth $11,088,000 after buying an additional 673,221 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Atlas Energy Solutions by 5.1% during the second quarter. Invesco Ltd. now owns 656,866 shares of the company’s stock worth $8,782,000 after buying an additional 31,966 shares in the last quarter. 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.