Atlas Energy Solutions (NYSE:AESI) Sets New 52-Week High – Here’s Why

Shares of Atlas Energy Solutions Inc. (NYSE:AESI) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $25.18 and last traded at $24.93, with a volume of 142341 shares trading hands. The stock had previously closed at $24.63.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on AESI shares. Citigroup cut Atlas Energy Solutions from a “buy” rating to a “neutral” rating and cut their target price for the company from $23.00 to $22.00 in a research note on Thursday, November 14th. Barclays lowered Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $23.00 to $19.00 in a report on Tuesday, November 12th. Pickering Energy Partners lowered Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 30th. Royal Bank of Canada reissued an “outperform” rating and set a $25.00 price target on shares of Atlas Energy Solutions in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group started coverage on Atlas Energy Solutions in a report on Friday, December 13th. They set a “neutral” rating and a $23.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $24.50.

Atlas Energy Solutions Price Performance

The stock has a 50 day moving average of $22.37 and a two-hundred day moving average of $21.25. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.23. The firm has a market capitalization of $2.79 billion, a P/E ratio of 32.01, a P/E/G ratio of 5.55 and a beta of 1.03.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly 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 business had revenue of $304.40 million during the quarter, compared to the consensus estimate of $307.93 million. Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The business’s quarterly revenue was up 93.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 earnings per share. Sell-side analysts predict that Atlas Energy Solutions Inc. will post 0.87 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were paid a $0.24 dividend. 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. This represents a $0.96 annualized dividend and a yield of 3.79%. Atlas Energy Solutions’s payout ratio is currently 121.52%.

Insider Activity at Atlas Energy Solutions

In other Atlas Energy Solutions news, major shareholder Brian Anthony Leveille sold 10,000 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $21.02, for a total value of $210,200.00. Following the transaction, the insider now owns 532,010 shares of the company’s stock, valued at approximately $11,182,850.20. The trade was a 1.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Gregory M. Shepard acquired 13,363 shares of Atlas Energy Solutions stock in a transaction on Monday, November 4th. The stock was acquired at an average cost of $19.19 per share, for a total transaction of $256,435.97. Following the purchase, the insider now owns 7,619,055 shares of the company’s stock, valued at approximately $146,209,665.45. This represents a 0.18 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 59,072 shares of company stock valued at $1,152,672 and have sold 137,142 shares valued at $3,084,721. 24.34% of the stock is owned by insiders.

Hedge Funds Weigh In On Atlas Energy Solutions

Several large investors have recently made changes to their positions in AESI. Wellington Management Group LLP acquired a new position in shares of Atlas Energy Solutions during the third quarter valued at $17,314,000. Marshall Wace LLP acquired a new position in shares of Atlas Energy Solutions during the second quarter valued at $8,898,000. First Sabrepoint Capital Management LP bought a new stake in Atlas Energy Solutions in the third quarter valued at about $8,066,000. Copeland Capital Management LLC increased its holdings in Atlas Energy Solutions by 19.8% in the third quarter. Copeland Capital Management LLC now owns 1,884,032 shares of the company’s stock valued at $41,072,000 after purchasing an additional 311,228 shares during the last quarter. Finally, State Street Corp increased its holdings in Atlas Energy Solutions by 15.0% in the third quarter. State Street Corp now owns 1,751,059 shares of the company’s stock valued at $38,173,000 after purchasing an additional 227,776 shares during the last quarter. 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.