Atlas Energy Solutions Inc. (NYSE:AESI) Receives Average Rating of “Buy” from Brokerages

Shares of Atlas Energy Solutions Inc. (NYSE:AESI) have earned an average recommendation of “Buy” from the ten brokerages that are presently covering the company, MarketBeat Ratings reports. Eight analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $26.25.

A number of equities research analysts recently weighed in on AESI shares. Stephens reissued an “overweight” rating and issued a $28.00 price target on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. The Goldman Sachs Group reduced their price target on Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Tudor Pickering raised shares of Atlas Energy Solutions to a “strong-buy” rating in a report on Monday, June 24th. Benchmark reissued a “buy” rating and issued a $27.00 target price on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Finally, Piper Sandler dropped their price objective on shares of Atlas Energy Solutions from $29.00 to $27.00 and set an “overweight” rating for the company in a research note on Monday, July 15th.

Insider Activity

In related news, major shareholder Gregory M. Shepard bought 3,248 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was bought at an average price of $21.68 per share, with a total value of $70,416.64. Following the completion of the transaction, the insider now directly owns 7,503,197 shares of the company’s stock, valued at $162,669,310.96. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Atlas Energy Solutions news, major shareholder Gregory M. Shepard acquired 3,248 shares of the stock in a transaction on Thursday, July 18th. The stock was purchased at an average price of $21.68 per share, for a total transaction of $70,416.64. Following the purchase, the insider now directly owns 7,503,197 shares in the company, valued at $162,669,310.96. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Gregory M. Shepard acquired 40,872 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were acquired at an average price of $19.64 per share, for a total transaction of $802,726.08. Following the completion of the acquisition, the insider now directly owns 7,445,069 shares in the company, valued at $146,221,155.16. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 74,133 shares of company stock valued at $1,461,398 and sold 34,287 shares valued at $679,825. Corporate insiders own 24.34% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AESI. First Horizon Advisors Inc. raised its holdings in shares of Atlas Energy Solutions by 313.7% during the second quarter. First Horizon Advisors Inc. now owns 1,725 shares of the company’s stock worth $34,000 after purchasing an additional 1,308 shares during the period. Amalgamated Bank increased its holdings in shares of Atlas Energy Solutions by 328.1% in the 2nd quarter. Amalgamated Bank now owns 2,350 shares of the company’s stock worth $47,000 after acquiring an additional 1,801 shares during the period. DekaBank Deutsche Girozentrale bought a new position in Atlas Energy Solutions in the 1st quarter worth approximately $78,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Atlas Energy Solutions in the second quarter worth $74,000. Finally, nVerses Capital LLC acquired a new position in shares of Atlas Energy Solutions during the second quarter valued at $106,000. 34.59% of the stock is currently owned by institutional investors.

Atlas Energy Solutions Price Performance

AESI stock opened at $22.29 on Friday. Atlas Energy Solutions has a 1 year low of $15.55 and a 1 year high of $24.93. The business’s 50-day moving average is $20.51 and its two-hundred day moving average is $21.43. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.53 and a quick ratio of 1.35. The firm has a market capitalization of $2.23 billion, a P/E ratio of 12.38, a P/E/G ratio of 5.92 and a beta of 0.56.

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

Atlas Energy Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were issued a dividend of $0.23 per share. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a dividend yield of 4.13%. The ex-dividend date of this dividend was Thursday, August 15th. Atlas Energy Solutions’s dividend payout ratio is presently 51.11%.

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.