Short Interest in Atlas Energy Solutions Inc. (NYSE:AESI) Expands By 9.2%

Atlas Energy Solutions Inc. (NYSE:AESI) was the recipient of a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 13,820,000 shares, a growth of 9.2% from the November 30th total of 12,650,000 shares. Approximately 21.2% of the company’s stock are short sold. Based on an average daily volume of 1,210,000 shares, the days-to-cover ratio is currently 11.4 days.

Insider Buying and Selling

In other Atlas Energy Solutions news, major shareholder Brian Anthony Leveille sold 30,000 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $24.02, for a total value of $720,600.00. Following the completion of the sale, the insider now directly owns 432,010 shares in the company, valued at approximately $10,376,880.20. This trade represents a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Gregory M. Shepard purchased 1,797 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was acquired at an average price of $19.65 per share, with a total value of $35,311.05. Following the completion of the purchase, the insider now owns 7,507,194 shares of the company’s stock, valued at $147,516,362.10. The trade was a 0.02 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 60,869 shares of company stock worth $1,187,983 and sold 124,642 shares worth $2,775,121. 24.34% of the stock is currently owned by company insiders.

Institutional Trading of Atlas Energy Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Atlas Energy Solutions by 1.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,931 shares of the company’s stock worth $979,000 after buying an additional 711 shares during the period. Beck Capital Management LLC increased its holdings in Atlas Energy Solutions by 0.6% in the 2nd quarter. Beck Capital Management LLC now owns 130,588 shares of the company’s stock worth $2,603,000 after acquiring an additional 749 shares in the last quarter. CWM LLC raised its position in Atlas Energy Solutions by 47.1% during the third quarter. CWM LLC now owns 2,766 shares of the company’s stock worth $60,000 after acquiring an additional 886 shares during the period. Cetera Investment Advisers lifted its holdings in Atlas Energy Solutions by 1.0% during 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 in the last quarter. Finally, FMR LLC grew its position in shares of Atlas Energy Solutions by 101.0% in the third quarter. FMR LLC now owns 2,696 shares of the company’s stock valued at $59,000 after purchasing an additional 1,355 shares during the period. 34.59% of the stock is owned by institutional investors and hedge funds.

Atlas Energy Solutions Stock Down 0.6 %

Atlas Energy Solutions stock opened at $22.18 on Thursday. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 28.08, a price-to-earnings-growth ratio of 11.53 and a beta of 0.96. Atlas Energy Solutions has a 52 week low of $15.55 and a 52 week high of $24.93. The business’s 50-day moving average price is $21.80 and its 200 day moving average price is $21.02. The company has a quick ratio of 1.08, a current ratio of 1.23 and a debt-to-equity ratio of 0.42.

Atlas Energy Solutions (NYSE:AESI) last posted its earnings results on Monday, October 28th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.25). The company had revenue of $304.40 million for the quarter, compared to analyst estimates of $307.93 million. Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The firm’s revenue was up 93.1% on a year-over-year basis. During the same period last year, the business earned $0.51 earnings per share. As a group, sell-side analysts anticipate that Atlas Energy Solutions will post 0.88 earnings per share for the current year.

Atlas Energy Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.33%. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Thursday, November 7th. Atlas Energy Solutions’s dividend payout ratio (DPR) is 121.52%.

Wall Street Analyst Weigh In

A number of research firms have commented on AESI. The Goldman Sachs Group began coverage on Atlas Energy Solutions in a research note on Friday, December 13th. They issued a “neutral” rating and a $23.00 price target for the company. Pickering Energy Partners cut Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research note on Wednesday, October 30th. Barclays cut Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $23.00 to $19.00 in a research note on Tuesday, November 12th. Royal Bank of Canada restated an “outperform” rating and issued a $25.00 price objective on shares of Atlas Energy Solutions in a research note on Wednesday, October 30th. Finally, Citigroup cut Atlas Energy Solutions from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $23.00 to $22.00 in a research note on Thursday, November 14th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Atlas Energy Solutions presently has an average rating of “Moderate Buy” and an average target price of $24.67.

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.