Atlas Energy Solutions (NYSE:AESI) Trading 4.8% Higher – Should You Buy?

Atlas Energy Solutions Inc. (NYSE:AESI)’s stock price shot up 4.8% on Wednesday . The stock traded as high as $14.11 and last traded at $14.02. 366,277 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 1,218,157 shares. The stock had previously closed at $13.38.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group dropped their price objective on shares of Atlas Energy Solutions from $22.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. Barclays cut their price target on shares of Atlas Energy Solutions from $23.00 to $19.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $25.00 target price on shares of Atlas Energy Solutions in a report on Wednesday, April 2nd. Benchmark lowered their price target on Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Finally, Piper Sandler assumed coverage on Atlas Energy Solutions in a research report on Wednesday, March 12th. They issued an “overweight” rating and a $22.00 price objective on the stock. Six research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Atlas Energy Solutions has a consensus rating of “Moderate Buy” and an average price target of $22.94.

Atlas Energy Solutions Stock Up 2.5 %

The company’s 50-day moving average is $18.01 and its two-hundred day moving average is $20.65. The company has a market cap of $1.67 billion, a P/E ratio of 17.35 and a beta of 1.20. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.08.

Atlas Energy Solutions (NYSE:AESI) last issued its earnings results on Monday, February 24th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.12). The company had revenue of $271.34 million during the quarter, compared to analysts’ expectations of $272.94 million. Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. As a group, equities analysts predict that Atlas Energy Solutions Inc. will post 0.83 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 21st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 7.29%. 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. Atlas Energy Solutions’s dividend payout ratio (DPR) is presently 178.57%.

Insiders Place Their Bets

In other Atlas Energy Solutions news, major shareholder Gregory M. Shepard bought 32,155 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were purchased at an average price of $19.04 per share, for a total transaction of $612,231.20. Following the transaction, the insider now directly owns 7,651,210 shares of the company’s stock, valued at approximately $145,679,038.40. This represents a 0.42 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Brian Anthony Leveille sold 5,000 shares of the stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $23.88, for a total transaction of $119,400.00. Following the transaction, the insider now directly owns 382,010 shares in the company, valued at approximately $9,122,398.80. The trade was a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,000 shares of company stock worth $830,150. 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 business. Vanguard Group Inc. lifted its stake in Atlas Energy Solutions by 12.6% in the 4th quarter. Vanguard Group Inc. now owns 6,915,325 shares of the company’s stock worth $153,382,000 after purchasing an additional 773,035 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Atlas Energy Solutions by 31.5% in the 4th quarter. First Trust Advisors LP now owns 3,908,810 shares of the company’s stock worth $86,697,000 after acquiring an additional 935,410 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Atlas Energy Solutions by 25.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,390,269 shares of the company’s stock worth $75,197,000 after acquiring an additional 689,846 shares during the period. Copeland Capital Management LLC grew its holdings in shares of Atlas Energy Solutions by 19.3% in the fourth quarter. Copeland Capital Management LLC now owns 2,247,774 shares of the company’s stock valued at $49,856,000 after purchasing an additional 363,742 shares during the period. Finally, State Street Corp increased its position in Atlas Energy Solutions by 15.0% during the third quarter. State Street Corp now owns 1,751,059 shares of the company’s stock worth $38,173,000 after purchasing an additional 227,776 shares during the last quarter. Hedge funds and other institutional investors 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.