Brokerages Set Atlas Energy Solutions Inc. (NYSE:AESI) Target Price at $26.25

Shares of Atlas Energy Solutions Inc. (NYSE:AESI) have received a consensus recommendation of “Buy” from the ten ratings firms that are currently covering the firm, MarketBeat.com reports. Eight research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $26.25.

Several equities research analysts have issued reports on the company. Tudor Pickering upgraded Atlas Energy Solutions to a “strong-buy” rating in a report on Monday, June 24th. Royal Bank of Canada dropped their target price on shares of Atlas Energy Solutions from $27.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Bank of America reduced their price target on shares of Atlas Energy Solutions from $25.00 to $24.00 and set a “buy” rating for the company in a report on Monday, July 15th. Piper Sandler dropped their price objective on shares of Atlas Energy Solutions from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Finally, Tudor, Pickering, Holt & Co. assumed coverage on shares of Atlas Energy Solutions in a research note on Monday, June 24th. They issued a “buy” rating for the company.

Insider Activity at Atlas Energy Solutions

In related news, major shareholder Stacy Hock sold 8,571 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $19.44, for a total transaction of $166,620.24. Following the sale, the insider now owns 943,317 shares in the company, valued at $18,338,082.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Gregory M. Shepard acquired 30,013 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were bought at an average cost of $19.60 per share, for a total transaction of $588,254.80. Following the purchase, the insider now directly owns 7,499,949 shares of the company’s stock, valued at $146,999,000.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Stacy Hock sold 8,571 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $19.44, for a total transaction of $166,620.24. Following the completion of the sale, the insider now directly owns 943,317 shares in the company, valued at $18,338,082.48. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 74,133 shares of company stock valued at $1,461,398 and have sold 34,287 shares valued at $679,825. 24.34% of the stock is owned by company insiders.

Hedge Funds Weigh In On Atlas Energy Solutions

Institutional investors have recently bought and sold shares of the business. Sanctuary Advisors LLC bought a new position in shares of Atlas Energy Solutions during the 2nd quarter worth approximately $951,000. Cetera Investment Advisers increased its holdings in shares of Atlas Energy Solutions by 1.0% in the second quarter. Cetera Investment Advisers now owns 88,654 shares of the company’s stock valued at $1,767,000 after purchasing an additional 897 shares during the last quarter. Driehaus Capital Management LLC raised its position in shares of Atlas Energy Solutions by 5.0% in the second quarter. Driehaus Capital Management LLC now owns 646,571 shares of the company’s stock valued at $12,886,000 after purchasing an additional 30,779 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Atlas Energy Solutions by 168.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,677 shares of the company’s stock worth $811,000 after buying an additional 25,540 shares during the last quarter. Finally, Dark Forest Capital Management LP boosted its holdings in shares of Atlas Energy Solutions by 71.2% during the 2nd quarter. Dark Forest Capital Management LP now owns 40,050 shares of the company’s stock worth $798,000 after buying an additional 16,652 shares during the period. Institutional investors and hedge funds own 34.59% of the company’s stock.

Atlas Energy Solutions Stock Up 1.7 %

Atlas Energy Solutions stock opened at $22.66 on Friday. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 5.92 and a beta of 0.56. The company’s 50 day simple moving average is $20.54 and its 200 day simple moving average is $21.46. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.53 and a quick ratio of 1.35. Atlas Energy Solutions has a fifty-two week low of $15.55 and a fifty-two week high of $24.93.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.18). The firm had revenue of $287.52 million during the quarter, compared to analyst estimates of $270.55 million. Atlas Energy Solutions had a net margin of 13.71% and a return on equity of 16.75%. Atlas Energy Solutions’s quarterly revenue was up 77.7% on a year-over-year basis. During the same period last year, the firm earned $0.69 EPS. As a group, sell-side analysts anticipate that Atlas Energy Solutions will post 1.48 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.06%. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Thursday, August 15th. Atlas Energy Solutions’s dividend payout ratio is currently 51.11%.

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.