Atlas Energy Solutions (NYSE:AESI) Trading Up 6.2% – Here’s What Happened

Atlas Energy Solutions Inc. (NYSE:AESI)’s share price shot up 6.2% during trading on Tuesday . The company traded as high as $14.23 and last traded at $14.30. 210,572 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 1,377,136 shares. The stock had previously closed at $13.46.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AESI. Piper Sandler cut their target price on Atlas Energy Solutions from $22.00 to $17.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. Stifel Nicolaus started coverage on shares of Atlas Energy Solutions in a research note on Wednesday, May 21st. They issued a “buy” rating and a $15.00 price objective for the company. Barclays cut their target price on Atlas Energy Solutions from $23.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. Royal Bank of Canada reduced their price target on Atlas Energy Solutions from $21.00 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. Finally, Benchmark dropped their price objective on Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.28.

Atlas Energy Solutions Stock Performance

The company has a quick ratio of 1.08, a current ratio of 1.23 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $1.77 billion, a PE ratio of 18.16 and a beta of 1.14. The firm has a 50-day moving average of $13.36 and a two-hundred day moving average of $18.57.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.10). Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The firm had revenue of $297.59 million during the quarter, compared to analyst estimates of $291.13 million. During the same quarter last year, the company posted $0.26 EPS. The company’s revenue was up 54.5% on a year-over-year basis. Research analysts anticipate that Atlas Energy Solutions Inc. will post 0.83 EPS for the current year.

Atlas Energy Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 6.97%. The ex-dividend date was Thursday, May 15th. Atlas Energy Solutions’s payout ratio is 322.58%.

Insiders Place Their Bets

In other news, Director Douglas G. Rogers bought 7,000 shares of the business’s stock in a transaction on Wednesday, May 14th. The shares were bought at an average price of $13.27 per share, with a total value of $92,890.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at $132,700. This trade represents a 233.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Ben M. Brigham purchased 9,635 shares of Atlas Energy Solutions stock in a transaction dated Wednesday, May 14th. The shares were acquired at an average cost of $13.38 per share, for a total transaction of $128,916.30. Following the transaction, the chairman now directly owns 572,397 shares of the company’s stock, valued at approximately $7,658,671.86. This represents a 1.71% increase in their position. The disclosure for this purchase can be found here. 15.98% of the stock is owned by company insiders.

Hedge Funds Weigh In On Atlas Energy Solutions

A number of institutional investors and hedge funds have recently modified their holdings of AESI. CBIZ Investment Advisory Services LLC boosted its stake in Atlas Energy Solutions by 62.9% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,354 shares of the company’s stock valued at $30,000 after acquiring an additional 523 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Atlas Energy Solutions by 307.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,387 shares of the company’s stock worth $31,000 after purchasing an additional 1,047 shares during the period. Wilmington Savings Fund Society FSB increased its stake in shares of Atlas Energy Solutions by 8.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 14,770 shares of the company’s stock worth $328,000 after acquiring an additional 1,100 shares during the period. Quarry LP purchased a new stake in shares of Atlas Energy Solutions in the fourth quarter valued at approximately $27,000. Finally, New York State Teachers Retirement System increased its holdings in shares of Atlas Energy Solutions by 9.3% in the 1st quarter. New York State Teachers Retirement System now owns 14,161 shares of the company’s stock valued at $253,000 after purchasing an additional 1,200 shares in the last quarter. Institutional investors and hedge funds own 34.59% of the company’s stock.

Atlas Energy Solutions Company Profile

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.