Atlas Energy Solutions (NYSE:AESI) Downgraded by The Goldman Sachs Group to “Neutral”

The Goldman Sachs Group downgraded shares of Atlas Energy Solutions (NYSE:AESI) from a buy rating to a neutral rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. They currently have $21.00 price objective on the stock, down from their prior price objective of $23.00.

AESI has been the topic of several other reports. Piper Sandler lowered their target price on Atlas Energy Solutions from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Bank of America dropped their target price on shares of Atlas Energy Solutions from $25.00 to $24.00 and set a “buy” rating for the company in a report on Monday, July 15th. Pickering Energy Partners cut Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research note on Wednesday, October 30th. Benchmark reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. Finally, Stephens restated an “overweight” rating and set a $28.00 target price on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Atlas Energy Solutions has a consensus rating of “Buy” and a consensus target price of $25.25.

Atlas Energy Solutions Stock Up 0.6 %

Shares of NYSE AESI traded up $0.13 during trading hours on Thursday, hitting $20.73. 386,897 shares of the stock were exchanged, compared to its average volume of 891,457. The company has a market cap of $2.28 billion, a PE ratio of 26.13, a PEG ratio of 11.04 and a beta of 0.69. Atlas Energy Solutions has a 12 month low of $15.55 and a 12 month high of $24.93. The company has a quick ratio of 1.08, a current ratio of 1.23 and a debt-to-equity ratio of 0.42. The firm has a fifty day moving average price of $20.89 and a 200-day moving average price of $21.15.

Atlas Energy Solutions (NYSE:AESI) last released its quarterly earnings data on Monday, October 28th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.25). The company had revenue of $304.40 million for the quarter, compared to analysts’ expectations of $307.93 million. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The business’s quarterly revenue was up 93.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.51 EPS. On average, sell-side analysts expect that Atlas Energy Solutions will post 0.8 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th will be given a $0.24 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.63%. Atlas Energy Solutions’s dividend payout ratio is currently 116.46%.

Insider Transactions at Atlas Energy Solutions

In other news, major shareholder Gregory M. Shepard acquired 23,300 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were bought at an average price of $19.55 per share, with a total value of $455,515.00. Following the completion of the acquisition, the insider now owns 7,540,306 shares in the company, valued at $147,412,982.30. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Atlas Energy Solutions news, major shareholder Brian Anthony Leveille sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $20.50, for a total transaction of $205,000.00. Following the completion of the sale, the insider now directly owns 542,010 shares in the company, valued at $11,111,205. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Gregory M. Shepard acquired 23,300 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was bought at an average cost of $19.55 per share, for a total transaction of $455,515.00. Following the completion of the transaction, the insider now directly owns 7,540,306 shares of the company’s stock, valued at $147,412,982.30. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders bought 60,869 shares of company stock valued at $1,187,983 and sold 65,713 shares valued at $1,367,117. Corporate insiders own 24.34% of the company’s stock.

Institutional Investors Weigh In On Atlas Energy Solutions

A number of large investors have recently modified their holdings of the stock. Beck Capital Management LLC boosted its position 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 valued at $2,603,000 after buying an additional 749 shares during the last quarter. CWM LLC increased its holdings in Atlas Energy Solutions by 47.1% during the 3rd quarter. CWM LLC now owns 2,766 shares of the company’s stock worth $60,000 after purchasing an additional 886 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of Atlas Energy Solutions by 1.0% during the 2nd quarter. Cetera Investment Advisers now owns 88,654 shares of the company’s stock valued at $1,767,000 after buying an additional 897 shares during the last quarter. First Horizon Advisors Inc. increased its stake in shares of Atlas Energy Solutions by 313.7% in the second quarter. First Horizon Advisors Inc. now owns 1,725 shares of the company’s stock worth $34,000 after buying an additional 1,308 shares during the last quarter. Finally, Amalgamated Bank boosted its stake in Atlas Energy Solutions by 328.1% during the 2nd quarter. Amalgamated Bank now owns 2,350 shares of the company’s stock valued at $47,000 after acquiring an additional 1,801 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.