Atlas Energy Solutions Inc. (NYSE:AESI) Shares Bought by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC raised its position in Atlas Energy Solutions Inc. (NYSE:AESI) by 2.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 158,023 shares of the company’s stock after acquiring an additional 4,294 shares during the quarter. HITE Hedge Asset Management LLC owned 0.14% of Atlas Energy Solutions worth $3,445,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AESI. California State Teachers Retirement System lifted its holdings in shares of Atlas Energy Solutions by 575.2% during the 1st quarter. California State Teachers Retirement System now owns 19,784 shares of the company’s stock valued at $448,000 after buying an additional 16,854 shares during the last quarter. Cetera Investment Advisers bought a new position in Atlas Energy Solutions in the first quarter valued at approximately $1,985,000. Boston Partners lifted its holdings in Atlas Energy Solutions by 33.1% during the 1st quarter. Boston Partners now owns 39,033 shares of the company’s stock worth $883,000 after purchasing an additional 9,697 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Atlas Energy Solutions during the 1st quarter worth $78,000. Finally, Avondale Wealth Management increased its stake in shares of Atlas Energy Solutions by 68.4% in the second quarter. Avondale Wealth Management now owns 16,000 shares of the company’s stock valued at $319,000 after buying an additional 6,500 shares during the period. Institutional investors and hedge funds own 34.59% of the company’s stock.

Insider Transactions at Atlas Energy Solutions

In related news, major shareholder Brian Anthony Leveille sold 30,000 shares of Atlas Energy Solutions stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $24.02, for a total transaction of $720,600.00. Following the completion of the transaction, the insider now directly owns 432,010 shares in the company, valued at approximately $10,376,880.20. This trade represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Gregory M. Shepard acquired 1,797 shares of the stock in a transaction on Friday, October 18th. The shares were bought at an average cost of $19.65 per share, for a total transaction of $35,311.05. Following the purchase, the insider now directly owns 7,507,194 shares of the company’s stock, valued at $147,516,362.10. The trade was a 0.02 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 60,869 shares of company stock valued at $1,187,983 and sold 115,713 shares valued at $2,517,431. 24.34% of the stock is owned by insiders.

Atlas Energy Solutions Trading Down 0.6 %

Atlas Energy Solutions stock opened at $23.44 on Tuesday. The company has a 50 day moving average price of $21.26 and a 200 day moving average price of $21.05. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of 29.67, a P/E/G ratio of 11.92 and a beta of 0.69. Atlas Energy Solutions Inc. has a 52 week low of $15.55 and a 52 week high of $24.93. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.23.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.25). Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The company had revenue of $304.40 million for the quarter, compared to the consensus estimate of $307.93 million. During the same period in the prior year, the company earned $0.51 EPS. The firm’s revenue was up 93.1% on a year-over-year basis. Research analysts forecast that Atlas Energy Solutions Inc. will post 0.88 EPS for the current 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 issued a $0.24 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.96 annualized dividend and a yield of 4.10%. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.23. Atlas Energy Solutions’s payout ratio is 121.52%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Barclays cut Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $23.00 to $19.00 in a research report on Tuesday, November 12th. Benchmark restated a “buy” rating and set a $27.00 price objective on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. Stephens reissued an “overweight” rating and set a $28.00 price objective on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 price objective on shares of Atlas Energy Solutions in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group lowered shares of Atlas Energy Solutions from a “buy” rating to a “neutral” rating and decreased their target price for the company from $23.00 to $21.00 in a report on Thursday, November 7th. Four analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Atlas Energy Solutions has a consensus rating of “Moderate Buy” and an average target price of $24.44.

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.