Atlas Energy Solutions (NYSE:AESI) Shares Up 6.2% - What's Next?

Atlas Energy Solutions Inc. (NYSE:AESI - Get Free Report) shares rose 6.2% during mid-day trading on Tuesday . The company traded as high as $14.23 and last traded at $14.30. Approximately 210,572 shares changed hands during trading, a decline of 85% from the average daily volume of 1,377,136 shares. The stock had previously closed at $13.46.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AESI. The Goldman Sachs Group decreased their price objective on Atlas Energy Solutions from $22.00 to $15.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Royal Bank of Canada dropped their price objective on Atlas Energy Solutions from $21.00 to $17.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Barclays lowered their price target on Atlas Energy Solutions from $23.00 to $19.00 and set an "equal weight" rating on the stock in a research note on Monday, March 3rd. Citigroup reduced their price objective on Atlas Energy Solutions from $18.00 to $14.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Finally, Stifel Nicolaus started coverage on Atlas Energy Solutions in a research report on Wednesday, May 21st. They set a "buy" rating and a $15.00 price objective for the company. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Atlas Energy Solutions presently has an average rating of "Moderate Buy" and an average target price of $19.28.

Atlas Energy Solutions Trading Up 0.8%

The company has a 50-day moving average price of $13.34 and a 200-day moving average price of $18.51. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 18.26 and a beta of 1.14. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.23.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.10). The company had revenue of $297.59 million for the quarter, compared to analysts' expectations of $291.13 million. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The firm's revenue was up 54.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.26 earnings per share. As a group, research analysts forecast that Atlas Energy Solutions Inc. will post 0.83 EPS for the current fiscal year.

Atlas Energy Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.00 annualized dividend and a yield of 6.93%. Atlas Energy Solutions's dividend payout ratio is presently 322.58%.

Insider Buying and Selling

In other news, Chairman Ben M. Brigham purchased 9,635 shares of the stock in a transaction on Wednesday, May 14th. The stock was purchased at an average price of $13.38 per share, with a total value of $128,916.30. Following the completion of the transaction, the chairman now owns 572,397 shares in the company, valued at approximately $7,658,671.86. The trade was a 1.71% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Douglas G. Rogers acquired 7,000 shares of Atlas Energy Solutions stock in a transaction on Wednesday, May 14th. The shares were bought at an average price of $13.27 per share, for a total transaction of $92,890.00. Following the purchase, the director now owns 10,000 shares of the company's stock, valued at $132,700. This represents a 233.33% increase in their ownership of the stock. The disclosure for this purchase can be found here. 15.98% of the stock is currently owned by insiders.

Institutional Trading of Atlas Energy Solutions

Several hedge funds and other institutional investors have recently bought and sold shares of AESI. Quarry LP bought a new position in shares of Atlas Energy Solutions during the fourth quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC lifted its position in shares of 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 valued at $30,000 after acquiring an additional 523 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Atlas Energy Solutions by 307.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,387 shares of the company's stock valued at $31,000 after purchasing an additional 1,047 shares in the last quarter. Fifth Third Bancorp raised its holdings 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 acquiring an additional 1,823 shares in the last quarter. Finally, Larson Financial Group LLC raised its holdings in shares of Atlas Energy Solutions by 201.8% during the first quarter. Larson Financial Group LLC now owns 1,968 shares of the company's stock worth $35,000 after acquiring an additional 1,316 shares in the last quarter. 34.59% of the stock is owned by 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.