Atlas Energy Solutions (NYSE:AESI) Shares Gap Down to $21.97

Atlas Energy Solutions Inc. (NYSE:AESI)’s share price gapped down before the market opened on Monday . The stock had previously closed at $21.97, but opened at $20.53. Atlas Energy Solutions shares last traded at $23.61, with a volume of 390,583 shares changing hands.

Wall Street Analyst Weigh In

AESI has been the topic of several research reports. Raymond James raised their price target on shares of Atlas Energy Solutions from $26.00 to $27.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, April 16th. Barclays upped their price target on Atlas Energy Solutions from $23.00 to $26.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Royal Bank of Canada lifted their price objective on Atlas Energy Solutions from $23.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 28th. Finally, The Goldman Sachs Group assumed coverage on Atlas Energy Solutions in a research note on Thursday, March 14th. They set a “buy” rating and a $24.00 price objective on the stock. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $25.17.

Atlas Energy Solutions Stock Up 4.3 %

The firm has a market cap of $2.29 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 0.54 and a beta of 0.66. The company has a quick ratio of 3.21, a current ratio of 3.44 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average price of $21.90 and a two-hundred day moving average price of $19.03.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.24). Atlas Energy Solutions had a return on equity of 47.40% and a net margin of 17.17%. The company had revenue of $141.14 million for the quarter, compared to analyst estimates of $147.34 million. On average, equities research analysts expect that Atlas Energy Solutions Inc. will post 2.93 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 22nd were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.66%. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, February 21st. Atlas Energy Solutions’s payout ratio is 40.76%.

Insider Transactions at Atlas Energy Solutions

In other news, major shareholder Stacy Hock sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $19.97, for a total transaction of $998,500.00. Following the completion of the sale, the insider now owns 970,738 shares in the company, valued at approximately $19,385,637.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 50,000 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $19.97, for a total transaction of $998,500.00. Following the transaction, the insider now owns 970,738 shares of the company’s stock, valued at $19,385,637.86. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jeffrey L. Allison sold 1,547 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $22.50, for a total value of $34,807.50. Following the completion of the sale, the executive vice president now directly owns 132,518 shares of the company’s stock, valued at $2,981,655. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 246,860 shares of company stock valued at $5,332,121. Corporate insiders own 24.34% of the company’s stock.

Hedge Funds Weigh In On Atlas Energy Solutions

Several institutional investors have recently added to or reduced their stakes in AESI. Central Pacific Bank Trust Division purchased a new stake in Atlas Energy Solutions in the 1st quarter valued at approximately $396,000. Capstone Investment Advisors LLC grew its holdings in Atlas Energy Solutions by 9.2% during the first quarter. Capstone Investment Advisors LLC now owns 545,859 shares of the company’s stock worth $12,347,000 after acquiring an additional 45,859 shares during the period. BNP Paribas Financial Markets purchased a new position in Atlas Energy Solutions in the first quarter worth $202,000. Outfitter Financial LLC lifted its holdings in Atlas Energy Solutions by 6.4% in the first quarter. Outfitter Financial LLC now owns 36,740 shares of the company’s stock valued at $831,000 after acquiring an additional 2,200 shares during the period. Finally, Vest Financial LLC acquired a new position in shares of Atlas Energy Solutions during the 1st quarter worth $854,000. Institutional investors and hedge funds 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.