Modera Wealth Management LLC Invests $322,000 in Atlas Energy Solutions Inc. (NYSE:AESI)

Modera Wealth Management LLC bought a new position in Atlas Energy Solutions Inc. (NYSE:AESI) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 14,767 shares of the company’s stock, valued at approximately $322,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Tectonic Advisors LLC raised its holdings in shares of Atlas Energy Solutions by 7.5% during the third quarter. Tectonic Advisors LLC now owns 59,725 shares of the company’s stock valued at $1,302,000 after acquiring an additional 4,187 shares during the period. Copeland Capital Management LLC raised its holdings in shares of Atlas Energy Solutions by 19.8% during the third quarter. Copeland Capital Management LLC now owns 1,884,032 shares of the company’s stock valued at $41,072,000 after acquiring an additional 311,228 shares during the period. Vest Financial LLC raised its holdings in shares of Atlas Energy Solutions by 14.8% during the third quarter. Vest Financial LLC now owns 65,578 shares of the company’s stock valued at $1,430,000 after acquiring an additional 8,436 shares during the period. B & T Capital Management DBA Alpha Capital Management raised its holdings in shares of Atlas Energy Solutions by 2.8% during the third quarter. B & T Capital Management DBA Alpha Capital Management now owns 348,731 shares of the company’s stock valued at $7,602,000 after acquiring an additional 9,380 shares during the period. Finally, CWM LLC raised its holdings in shares of Atlas Energy Solutions by 47.1% during the third quarter. CWM LLC now owns 2,766 shares of the company’s stock valued at $60,000 after acquiring an additional 886 shares during the period. 34.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AESI has been the topic of a number of recent analyst reports. Benchmark restated a “buy” rating and set a $27.00 price target on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Stephens restated an “overweight” rating and set a $28.00 price target on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Barclays cut their price target on shares of Atlas Energy Solutions from $26.00 to $23.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. The Goldman Sachs Group dropped their price objective on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, Bank of America dropped their price objective on shares of Atlas Energy Solutions from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Eight equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Atlas Energy Solutions currently has a consensus rating of “Buy” and an average price target of $25.75.

Atlas Energy Solutions Price Performance

NYSE AESI opened at $20.37 on Wednesday. The company has a current ratio of 1.53, a quick ratio of 1.35 and a debt-to-equity ratio of 0.42. The company has a fifty day simple moving average of $21.00 and a 200 day simple moving average of $21.24. The company has a market cap of $2.04 billion, a P/E ratio of 11.31, a P/E/G ratio of 6.47 and a beta of 0.56. Atlas Energy Solutions Inc. has a 1 year low of $15.55 and a 1 year high of $24.93.

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

Atlas Energy Solutions Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th will be paid a $0.24 dividend. The ex-dividend date is Thursday, November 7th. Atlas Energy Solutions’s dividend payout ratio is 51.11%.

Insider Activity

In other news, major shareholder Stacy Hock sold 8,571 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $19.44, for a total value of $166,620.24. Following the completion of the transaction, the insider now owns 943,317 shares in the company, valued at approximately $18,338,082.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, major shareholder Gregory M. Shepard acquired 1,797 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were purchased at an average price of $19.65 per share, with a total value of $35,311.05. Following the acquisition, the insider now directly owns 7,507,194 shares in the company, valued at $147,516,362.10. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Stacy Hock sold 8,571 shares of the 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 directly owns 943,317 shares in the company, valued at approximately $18,338,082.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 33,159 shares of company stock worth $650,776 and sold 35,713 shares worth $729,117. Corporate insiders own 24.34% 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.