Atlas Energy Solutions (NYSE:AESI) Trading Down 4%

Atlas Energy Solutions Inc. (NYSE:AESI) shares fell 4% during trading on Thursday . The company traded as low as $21.25 and last traded at $21.39. 77,127 shares changed hands during trading, a decline of 91% from the average session volume of 863,159 shares. The stock had previously closed at $22.29.

Wall Street Analysts Forecast Growth

AESI has been the subject of several recent analyst reports. Tudor Pickering raised shares of Atlas Energy Solutions to a “strong-buy” rating in a report on Monday, June 24th. Stephens reaffirmed an “overweight” rating and set a $28.00 price objective on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. The Goldman Sachs Group dropped their price objective on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Bank of America dropped their price objective on shares of Atlas Energy Solutions from $25.00 to $24.00 and set a “buy” rating for the company in a report on Monday, July 15th. Finally, Tudor, Pickering, Holt & Co. initiated coverage on shares of Atlas Energy Solutions in a report on Monday, June 24th. They set a “buy” rating for the company. Eight investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Atlas Energy Solutions currently has a consensus rating of “Buy” and an average target price of $26.25.

Atlas Energy Solutions Trading Down 1.0 %

The stock has a market capitalization of $2.21 billion, a P/E ratio of 12.39, a PEG ratio of 6.95 and a beta of 0.56. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.53 and a quick ratio of 1.35. The business’s 50 day simple moving average is $20.73 and its 200-day simple moving average is $21.53.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.18). The firm had revenue of $287.52 million for the quarter, compared to the consensus estimate of $270.55 million. Atlas Energy Solutions had a return on equity of 16.75% and a net margin of 13.71%. The company’s revenue for the quarter was up 77.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.69 earnings per share. As a group, analysts forecast that Atlas Energy Solutions Inc. will post 1.48 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.17%. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.22. The ex-dividend date was Thursday, August 15th. Atlas Energy Solutions’s dividend payout ratio (DPR) is currently 51.11%.

Insider Activity at Atlas Energy Solutions

In related news, major shareholder Stacy Hock sold 8,571 shares of the business’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $19.89, for a total value of $170,477.19. Following the sale, the insider now directly owns 960,459 shares of the company’s stock, valued at approximately $19,103,529.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 8,571 shares of Atlas Energy Solutions stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $19.89, for a total value of $170,477.19. Following the sale, the insider now directly owns 960,459 shares in the company, valued at approximately $19,103,529.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Gregory M. Shepard purchased 3,248 shares of the stock in a transaction on Thursday, July 18th. The stock was acquired at an average price of $21.68 per share, for a total transaction of $70,416.64. Following the completion of the purchase, the insider now directly owns 7,503,197 shares in the company, valued at approximately $162,669,310.96. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 25,713 shares of company stock valued at $510,403. 24.34% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AESI. Palogic Value Management L.P. acquired a new position in shares of Atlas Energy Solutions during the 4th quarter worth about $1,464,000. Goldman Sachs Group Inc. grew its stake in Atlas Energy Solutions by 127.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,136,136 shares of the company’s stock valued at $19,564,000 after buying an additional 637,249 shares during the last quarter. Diversified Trust Co acquired a new position in Atlas Energy Solutions in the 1st quarter valued at about $209,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Atlas Energy Solutions in the 1st quarter valued at about $307,000. Finally, Vest Financial LLC acquired a new position in Atlas Energy Solutions in the 1st quarter valued at about $854,000. 34.59% of the stock is currently owned by institutional investors and hedge funds.

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.