Analysts Set Atlas Energy Solutions Inc. (NYSE:AESI) Target Price at $19.11

Key Points

• Atlas Energy Solutions Inc. has received a consensus rating of "Hold" from eleven brokerages, with seven recommending hold and four recommending buy.
• The company's shares opened at $12.62 and have experienced a 12-month price range between $11.76 and $26.86.
• Chairman Ben M. Brigham and Director Douglas G. Rogers increased their holdings, buying shares at prices around $13.27 to $13.38, signaling potential insider confidence in the company.

Shares of Atlas Energy Solutions Inc. (NYSE:AESI - Get Free Report) have been assigned a consensus recommendation of "Hold" from the eleven analysts that are currently covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $19.1111.

A number of research analysts have weighed in on AESI shares. Citigroup dropped their price objective on shares of Atlas Energy Solutions from $18.00 to $14.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Piper Sandler reaffirmed a "neutral" rating and issued a $16.00 price objective on shares of Atlas Energy Solutions in a research note on Tuesday, July 15th. Royal Bank Of Canada dropped their price objective on shares of Atlas Energy Solutions from $21.00 to $17.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Finally, Stifel Nicolaus dropped their price objective on shares of Atlas Energy Solutions from $15.00 to $14.50 and set a "buy" rating on the stock in a research note on Wednesday, July 16th.

Atlas Energy Solutions Stock Down 0.6%

NYSE AESI traded down $0.07 on Wednesday, hitting $11.73. 1,459,315 shares of the company were exchanged, compared to its average volume of 1,440,067. The company has a market cap of $1.45 billion, a PE ratio of 83.79 and a beta of 1.19. Atlas Energy Solutions has a 12 month low of $11.60 and a 12 month high of $26.86. The stock has a fifty day moving average of $13.60 and a 200-day moving average of $15.87. The company has a current ratio of 1.56, a quick ratio of 1.40 and a debt-to-equity ratio of 0.39.

Atlas Energy Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 14th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 8.5%. The ex-dividend date is Thursday, August 14th. Atlas Energy Solutions's dividend payout ratio (DPR) is 714.29%.

Insider Transactions at Atlas Energy Solutions

In other Atlas Energy Solutions news, Chairman Ben M. Brigham bought 9,635 shares of Atlas Energy Solutions stock in a transaction dated Wednesday, May 14th. The stock was purchased at an average price of $13.38 per share, for a total transaction of $128,916.30. Following the completion of the purchase, the chairman directly owned 572,397 shares of the company's stock, valued at approximately $7,658,671.86. This trade represents a 1.71% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Douglas G. Rogers bought 7,000 shares of Atlas Energy Solutions stock in a transaction dated Wednesday, May 14th. The stock was acquired at an average price of $13.27 per share, with a total value of $92,890.00. Following the purchase, the director directly owned 10,000 shares of the company's stock, valued at approximately $132,700. This represents a 233.33% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 15.98% of the company's stock.

Hedge Funds Weigh In On Atlas Energy Solutions

Several large investors have recently modified their holdings of the business. Cetera Investment Advisers increased its stake in shares of Atlas Energy Solutions by 39.5% in the second quarter. Cetera Investment Advisers now owns 903,347 shares of the company's stock worth $12,078,000 after purchasing an additional 255,818 shares in the last quarter. SG Americas Securities LLC grew its stake in Atlas Energy Solutions by 522.7% during the second quarter. SG Americas Securities LLC now owns 41,435 shares of the company's stock valued at $554,000 after acquiring an additional 34,781 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Atlas Energy Solutions by 8.9% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,726 shares of the company's stock valued at $250,000 after acquiring an additional 1,538 shares in the last quarter. Police & Firemen s Retirement System of New Jersey grew its stake in Atlas Energy Solutions by 7.1% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 16,090 shares of the company's stock valued at $215,000 after acquiring an additional 1,061 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Atlas Energy Solutions by 5.0% during the second quarter. Geode Capital Management LLC now owns 1,765,797 shares of the company's stock valued at $23,611,000 after acquiring an additional 84,760 shares in the last quarter. Hedge funds and other institutional investors own 34.59% of the company's stock.

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.