Short Interest in Atlas Energy Solutions Inc. (NYSE:AESI) Grows By 27.2%

Atlas Energy Solutions Inc. (NYSE:AESI) was the target of a large increase in short interest during the month of July. As of July 15th, there was short interest totalling 7,630,000 shares, an increase of 27.2% from the June 30th total of 6,000,000 shares. Approximately 12.8% of the shares of the company are sold short. Based on an average daily trading volume, of 1,090,000 shares, the short-interest ratio is presently 7.0 days.

Atlas Energy Solutions Stock Down 0.4 %

AESI opened at $20.79 on Friday. Atlas Energy Solutions has a 52 week low of $15.55 and a 52 week high of $24.93. The company has a quick ratio of 2.05, a current ratio of 2.24 and a debt-to-equity ratio of 0.43. The firm has a 50-day simple moving average of $21.26 and a two-hundred day simple moving average of $20.64. The company has a market capitalization of $2.08 billion, a PE ratio of 11.55, a price-to-earnings-growth ratio of 4.95 and a beta of 0.58.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.12). The firm had revenue of $192.67 million for the quarter, compared to the consensus estimate of $196.39 million. Atlas Energy Solutions had a net margin of 19.98% and a return on equity of 29.56%. Atlas Energy Solutions’s quarterly revenue was up 25.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.03 earnings per share. Analysts forecast that Atlas Energy Solutions will post 1.86 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 16th were paid a dividend of $0.22 per share. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.21. The ex-dividend date was Wednesday, May 15th. This represents a $0.88 dividend on an annualized basis and a yield of 4.23%. Atlas Energy Solutions’s dividend payout ratio is presently 35.56%.

Insider Buying and Selling at Atlas Energy Solutions

In other news, major shareholder Richard W. Schmidt sold 51,150 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $22.98, for a total value of $1,175,427.00. Following the transaction, the insider now directly owns 1,051,663 shares in the company, valued at approximately $24,167,215.74. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, major shareholder Richard W. Schmidt sold 51,150 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $22.98, for a total transaction of $1,175,427.00. Following the completion of the sale, the insider now owns 1,051,663 shares of the company’s stock, valued at approximately $24,167,215.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Chad M. Mcever sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $24.55, for a total transaction of $2,455,000.00. Following the completion of the transaction, the insider now directly owns 451,755 shares in the company, valued at approximately $11,090,585.25. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 134,526 shares of company stock worth $2,611,884 and sold 214,243 shares worth $5,029,887. Company insiders own 24.34% of the company’s stock.

Hedge Funds Weigh In On Atlas Energy Solutions

A number of institutional investors and hedge funds have recently made changes to their positions in AESI. Vanguard Group Inc. grew its position in Atlas Energy Solutions by 3.3% in the third quarter. Vanguard Group Inc. now owns 1,633,896 shares of the company’s stock worth $36,322,000 after acquiring an additional 51,812 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Atlas Energy Solutions during the fourth quarter valued at approximately $27,963,000. Schwab Charitable Fund purchased a new stake in shares of Atlas Energy Solutions in the 4th quarter worth $17,922,000. Americana Partners LLC bought a new stake in shares of Atlas Energy Solutions in the fourth quarter valued at about $2,583,000. Finally, Villere ST Denis J & Co. LLC raised its holdings in shares of Atlas Energy Solutions by 258.0% in the 4th quarter. Villere ST Denis J & Co. LLC now owns 1,813,539 shares of the company’s stock valued at $31,229,000 after purchasing an additional 1,306,900 shares in the last quarter. 34.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AESI has been the topic of several analyst reports. Bank of America lowered their target price on Atlas Energy Solutions from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Raymond James lifted their price objective on Atlas Energy Solutions from $26.00 to $27.00 and gave the company a “strong-buy” rating in a research report on Tuesday, April 16th. The Goldman Sachs Group increased their target price on shares of Atlas Energy Solutions from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. Tudor, Pickering, Holt & Co. began coverage on shares of Atlas Energy Solutions in a report on Monday, June 24th. They set a “buy” rating on the stock. Finally, Tudor Pickering raised shares of Atlas Energy Solutions to a “strong-buy” rating in a research note on Monday, June 24th. Nine investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $25.89.

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.