Avantax Advisory Services Inc. Purchases 5,183 Shares of Atlas Energy Solutions Inc. (NYSE:AESI)

Avantax Advisory Services Inc. grew its stake in shares of Atlas Energy Solutions Inc. (NYSE:AESI) by 22.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 28,509 shares of the company’s stock after purchasing an additional 5,183 shares during the period. Avantax Advisory Services Inc.’s holdings in Atlas Energy Solutions were worth $632,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Atlas Energy Solutions by 1.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,931 shares of the company’s stock worth $979,000 after purchasing an additional 711 shares in the last quarter. Wilmington Savings Fund Society FSB increased its holdings in Atlas Energy Solutions by 8.0% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 14,770 shares of the company’s stock worth $328,000 after purchasing an additional 1,100 shares in the last quarter. Global Retirement Partners LLC increased its holdings in Atlas Energy Solutions by 191.9% during the 4th quarter. Global Retirement Partners LLC now owns 1,941 shares of the company’s stock worth $43,000 after purchasing an additional 1,276 shares in the last quarter. FMR LLC increased its holdings in Atlas Energy Solutions by 101.0% during the 3rd quarter. FMR LLC now owns 2,696 shares of the company’s stock worth $59,000 after purchasing an additional 1,355 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Atlas Energy Solutions by 55.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,745 shares of the company’s stock worth $125,000 after purchasing an additional 2,043 shares in the last quarter. 34.59% of the stock is owned by institutional investors.

Atlas Energy Solutions Price Performance

Atlas Energy Solutions stock opened at $17.96 on Friday. Atlas Energy Solutions Inc. has a 12 month low of $16.98 and a 12 month high of $26.86. The company has a current ratio of 1.23, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42. The business’s 50 day simple moving average is $21.00 and its 200 day simple moving average is $21.38. The company has a market cap of $2.19 billion, a price-to-earnings ratio of 22.74 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 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.12). The firm had revenue of $271.34 million during the quarter, compared to analysts’ expectations of $272.94 million. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. Sell-side analysts forecast that Atlas Energy Solutions Inc. will post 0.83 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 21st were given a dividend of $0.25 per share. The ex-dividend date was Friday, February 21st. This represents a $1.00 annualized dividend and a dividend yield of 5.57%. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.24. Atlas Energy Solutions’s dividend payout ratio is currently 178.57%.

Insiders Place Their Bets

In other Atlas Energy Solutions news, major shareholder Brian Anthony Leveille sold 5,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $23.00, for a total transaction of $115,000.00. Following the sale, the insider now owns 404,510 shares in the company, valued at $9,303,730. This represents a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Gregory M. Shepard bought 32,155 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were bought at an average price of $19.04 per share, for a total transaction of $612,231.20. Following the transaction, the insider now 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 50,000 shares of company stock worth $1,164,750 over the last 90 days. Corporate insiders own 24.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on AESI shares. Raymond James lowered Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, January 6th. The Goldman Sachs Group assumed coverage on Atlas Energy Solutions in a research note on Friday, December 13th. They issued a “neutral” rating and a $23.00 target price on the stock. Benchmark cut their target price on Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Stephens boosted their target price on Atlas Energy Solutions from $28.00 to $29.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. Finally, Piper Sandler assumed coverage on Atlas Energy Solutions in a research note on Wednesday, March 12th. They issued an “overweight” rating and a $22.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Atlas Energy Solutions currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.83.

Atlas Energy Solutions 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.