Atlas Energy Solutions (NYSE:AESI) Shares Gap Up – What’s Next?

Atlas Energy Solutions Inc. (NYSE:AESI)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $21.51, but opened at $23.85. Atlas Energy Solutions shares last traded at $23.37, with a volume of 767,923 shares changing hands.

Wall Street Analysts Forecast Growth

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

Atlas Energy Solutions Trading Up 10.8 %

The firm has a market capitalization of $2.63 billion, a PE ratio of 29.98, a price-to-earnings-growth ratio of 11.57 and a beta of 0.69. The stock’s 50-day moving average price is $21.01 and its 200 day moving average price is $21.04. 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 posted its quarterly earnings results on Monday, October 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.25). The firm had revenue of $304.40 million for the quarter, compared to the consensus estimate of $307.93 million. Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. Atlas Energy Solutions’s quarterly revenue was up 93.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.51 EPS. On average, sell-side analysts expect that Atlas Energy Solutions Inc. will post 0.8 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were paid a dividend of $0.24 per share. The ex-dividend date was 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 4.03%. Atlas Energy Solutions’s dividend payout ratio (DPR) is currently 121.52%.

Insider Buying and Selling at Atlas Energy Solutions

In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 8,571 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $19.44, for a total transaction of $166,620.24. Following the sale, the insider now owns 943,317 shares in the company, valued at approximately $18,338,082.48. The trade was a 0.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Brian Anthony Leveille sold 10,000 shares of Atlas Energy Solutions stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $20.50, for a total value of $205,000.00. Following the completion of the transaction, the insider now owns 542,010 shares of the company’s stock, valued at approximately $11,111,205. This represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 60,869 shares of company stock valued at $1,187,983 and have sold 75,713 shares valued at $1,581,831. Insiders own 24.34% of the company’s stock.

Hedge Funds Weigh In On Atlas Energy Solutions

Several hedge funds and other institutional investors have recently modified their holdings of AESI. Ashford Capital Management Inc. increased its stake in shares of Atlas Energy Solutions by 27.9% in the 3rd quarter. Ashford Capital Management Inc. now owns 586,000 shares of the company’s stock worth $12,775,000 after acquiring an additional 127,910 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Atlas Energy Solutions by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,448,340 shares of the company’s stock valued at $31,579,000 after acquiring an additional 54,321 shares during the period. First Sabrepoint Capital Management LP purchased a new stake in shares of Atlas Energy Solutions in the 3rd quarter valued at $8,066,000. Barclays PLC lifted its position in shares of Atlas Energy Solutions by 574.5% during the third quarter. Barclays PLC now owns 175,082 shares of the company’s stock worth $3,817,000 after purchasing an additional 149,126 shares in the last quarter. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Atlas Energy Solutions during the 3rd quarter worth $785,000. 34.59% of the stock is owned by hedge funds and other institutional investors.

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.