Atlas Energy Solutions (NYSE:AESI) Research Coverage Started at Piper Sandler

Piper Sandler assumed coverage on shares of Atlas Energy Solutions (NYSE:AESI) in a research note published on Wednesday morning, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $22.00 price target on the stock.

Several other research firms have also weighed in on AESI. Bank of America reiterated a “neutral” rating and set a $22.50 target price on shares of Atlas Energy Solutions in a report on Monday, January 13th. Raymond James downgraded Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. Barclays decreased their target price on Atlas Energy Solutions from $23.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. Stephens upped their target price on Atlas Energy Solutions from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada cut their price target on Atlas Energy Solutions from $28.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Atlas Energy Solutions presently has a consensus rating of “Moderate Buy” and an average target price of $23.83.

Atlas Energy Solutions Stock Performance

Shares of AESI stock opened at $17.72 on Wednesday. The stock’s fifty day simple moving average is $21.49 and its 200-day simple moving average is $21.50. The company has a current ratio of 1.23, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42. Atlas Energy Solutions has a 1-year low of $16.98 and a 1-year high of $26.86. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 22.43 and a beta of 1.18.

Atlas Energy Solutions (NYSE:AESI) last posted its quarterly earnings data on Monday, February 24th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.12). Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The business had revenue of $271.34 million for the quarter, compared to analyst estimates of $272.94 million. On average, sell-side analysts predict that Atlas Energy Solutions will post 0.83 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 Friday, February 28th. Investors of record on Friday, February 21st were given a dividend of $0.25 per share. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a yield of 5.64%. Atlas Energy Solutions’s dividend payout ratio is 178.57%.

Insiders Place Their Bets

In related news, major shareholder Gregory M. Shepard bought 32,155 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average cost of $19.04 per share, with a total value of $612,231.20. Following the completion of the purchase, the insider now owns 7,651,210 shares of the company’s stock, valued at approximately $145,679,038.40. The trade was a 0.42 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Stacy Hock sold 8,571 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $22.55, for a total transaction of $193,276.05. Following the transaction, the insider now directly owns 917,604 shares of the company’s stock, valued at $20,691,970.20. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,571 shares of company stock worth $1,473,876. Company insiders own 24.34% of the company’s stock.

Institutional Investors Weigh In On Atlas Energy Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP purchased a new position in Atlas Energy Solutions during the 4th quarter valued at about $27,000. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Atlas Energy Solutions by 62.9% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 1,354 shares of the company’s stock valued at $30,000 after acquiring an additional 523 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Atlas Energy Solutions by 307.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,387 shares of the company’s stock valued at $31,000 after acquiring an additional 1,047 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in Atlas Energy Solutions by 191.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,941 shares of the company’s stock worth $43,000 after buying an additional 1,276 shares in the last quarter. Finally, Quest Partners LLC purchased a new stake in Atlas Energy Solutions during the third quarter worth $48,000. Institutional investors own 34.59% of the company’s stock.

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.