Atlas Energy Solutions (NYSE:AESI) Trading 4.8% Higher - Still a Buy?

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AESI. Royal Bank of Canada reaffirmed an "outperform" rating and set a $25.00 price target on shares of Atlas Energy Solutions in a report on Wednesday, April 2nd. Bank of America restated a "neutral" rating and issued a $22.50 price target on shares of Atlas Energy Solutions in a research report on Monday, January 13th. Raymond James downgraded Atlas Energy Solutions from a "strong-buy" rating to a "hold" rating in a report on Monday, January 6th. Barclays cut their price objective on shares of Atlas Energy Solutions from $23.00 to $19.00 and set an "equal weight" rating on the stock in a research report on Monday, March 3rd. Finally, The Goldman Sachs Group lowered their price objective on shares of Atlas Energy Solutions from $22.00 to $15.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.44.

Atlas Energy Solutions Trading Down 3.2 %

The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.08. The firm has a market cap of $1.67 billion, a P/E ratio of 17.32 and a beta of 1.20. The stock has a 50 day moving average of $17.55 and a 200 day moving average of $20.47.

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

Atlas Energy Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 21st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.00 annualized dividend and a dividend yield of 7.31%. This is a boost from Atlas Energy Solutions's previous quarterly dividend of $0.24. Atlas Energy Solutions's dividend payout ratio (DPR) is currently 178.57%.

Insider Activity at Atlas Energy Solutions

In other news, major shareholder Gregory M. Shepard purchased 32,155 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average cost of $19.04 per share, for a total transaction of $612,231.20. Following the completion of the transaction, the insider now owns 7,651,210 shares of the company's stock, valued at $145,679,038.40. This trade represents a 0.42 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Stacy Hock sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $22.50, for a total transaction of $225,000.00. Following the completion of the transaction, the insider now directly owns 897,604 shares in the company, valued at $20,196,090. This trade represents a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,500 shares of company stock valued at $650,150 over the last 90 days. 15.98% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Atlas Energy Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP acquired a new position in shares of Atlas Energy Solutions during the fourth quarter worth $27,000. CBIZ Investment Advisory Services LLC grew its position in Atlas Energy Solutions by 62.9% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 1,354 shares of the company's stock worth $30,000 after purchasing an additional 523 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Atlas Energy Solutions by 307.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,387 shares of the company's stock valued at $31,000 after acquiring an additional 1,047 shares during the period. Fifth Third Bancorp raised its stake in shares of Atlas Energy Solutions by 1,240.1% during the first quarter. Fifth Third Bancorp now owns 1,970 shares of the company's stock worth $35,000 after purchasing an additional 1,823 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in shares of Atlas Energy Solutions by 191.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,941 shares of the company's stock valued at $43,000 after acquiring an additional 1,276 shares in the last quarter. 34.59% of the stock is currently owned by hedge funds and other institutional investors.

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.