We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Atlas Energy Solutions Inc. (AESI) Surges 9.8%: Is This an Indication of Further Gains?
Read MoreHide Full Article
Atlas Energy Solutions Inc. (AESI - Free Report) shares rallied 9.8% in the last trading session to close at $13.17. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 14.2% loss over the past four weeks.
The surge can be attributed to Atlas Energy Solutions’ strong foothold in proppant and logistics services in the Permian Basin as well as the broader gain on crude prices, which reached nearly $90 per barrel due to the recent geopolitical developments, in the Middle East. Atlas provides technology to upstream companies to monitor, plan, and deliver materials automatically, saving time, reducing errors, and improving efficiency at oilfield sites. Tools like Opti Ordering and Opti Dispatch make the whole process faster, smarter, and more efficient than competitors. With global demand for oil and energy expected to grow, the company is expected to witness sustained demand for its oilfield equipment and services, supporting future earnings. The company’s strong foothold as an oil and gas equipment and service provider, coupled with rising demand for oil and energy, has been a significant revenue driver.
This company is expected to post quarterly loss of $0.18 per share in its upcoming report, which represents a year-over-year change of -325%. Revenues are expected to be $257.32 million, down 13.5% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Atlas Energy Solutions Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AESI going forward to see if this recent jump can turn into more strength down the road.
Atlas Energy Solutions Inc. belongs to the Zacks Oil and Gas - Integrated - United States industry. Another stock from the same industry, Occidental Petroleum (OXY - Free Report) , closed the last trading session 0.8% higher at $55.83. Over the past month, OXY has returned -4.1%.
For Occidental, the consensus EPS estimate for the upcoming report has changed +115% over the past month to $0.54. This represents a change of -37.9% from what the company reported a year ago. Occidental currently has a Zacks Rank of #1 (Strong Buy).
Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report
predicting the 7 stocks that will soar highest in the coming month.
View the Zacks #1 Rank List
Image: Bigstock
Atlas Energy Solutions Inc. (AESI) Surges 9.8%: Is This an Indication of Further Gains?
Atlas Energy Solutions Inc. (AESI - Free Report) shares rallied 9.8% in the last trading session to close at $13.17. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 14.2% loss over the past four weeks.
The surge can be attributed to Atlas Energy Solutions’ strong foothold in proppant and logistics services in the Permian Basin as well as the broader gain on crude prices, which reached nearly $90 per barrel due to the recent geopolitical developments, in the Middle East. Atlas provides technology to upstream companies to monitor, plan, and deliver materials automatically, saving time, reducing errors, and improving efficiency at oilfield sites. Tools like Opti Ordering and Opti Dispatch make the whole process faster, smarter, and more efficient than competitors. With global demand for oil and energy expected to grow, the company is expected to witness sustained demand for its oilfield equipment and services, supporting future earnings. The company’s strong foothold as an oil and gas equipment and service provider, coupled with rising demand for oil and energy, has been a significant revenue driver.
This company is expected to post quarterly loss of $0.18 per share in its upcoming report, which represents a year-over-year change of -325%. Revenues are expected to be $257.32 million, down 13.5% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Atlas Energy Solutions Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AESI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Atlas Energy Solutions Inc. belongs to the Zacks Oil and Gas - Integrated - United States industry. Another stock from the same industry, Occidental Petroleum (OXY - Free Report) , closed the last trading session 0.8% higher at $55.83. Over the past month, OXY has returned -4.1%.
For Occidental, the consensus EPS estimate for the upcoming report has changed +115% over the past month to $0.54. This represents a change of -37.9% from what the company reported a year ago. Occidental currently has a Zacks Rank of #1 (Strong Buy).