Atlas Energy Solutions (NYSE:AESI) Stock Price Up 6.2% - Here's Why

Atlas Energy Solutions Inc. (NYSE:AESI - Get Free Report)'s share price was up 6.2% on Tuesday . The company traded as high as $14.23 and last traded at $14.30. Approximately 210,572 shares were traded 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 analysts have recently weighed in on AESI shares. Citigroup dropped their price target 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. Royal Bank of Canada dropped their price target on Atlas Energy Solutions from $21.00 to $17.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Stifel Nicolaus assumed coverage on Atlas Energy Solutions in a research report on Wednesday, May 21st. They issued a "buy" rating and a $15.00 target price on the stock. Barclays lowered their target price on 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 target price on Atlas Energy Solutions from $22.00 to $15.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Six research 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. Based on data from MarketBeat, Atlas Energy Solutions has a consensus rating of "Moderate Buy" and a consensus price target of $19.28.

Atlas Energy Solutions Trading Up 1.8%

The business has a 50 day simple moving average of $13.39 and a 200-day simple moving average of $18.39. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.23. The stock has a market capitalization of $1.81 billion, a P/E ratio of 18.56 and a beta of 1.14.

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

Atlas Energy Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 6.82%. The ex-dividend date of this dividend was Thursday, May 15th. Atlas Energy Solutions's dividend payout ratio is presently 322.58%.

Insider Transactions at Atlas Energy Solutions

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

Institutional Trading of Atlas Energy Solutions

Several hedge funds and other institutional investors have recently modified their holdings of the business. First Hawaiian Bank boosted its position in shares of Atlas Energy Solutions by 5.2% in the first quarter. First Hawaiian Bank now owns 55,252 shares of the company's stock worth $986,000 after buying an additional 2,748 shares during the period. Rhumbline Advisers boosted its position in shares of Atlas Energy Solutions by 12.1% in the first quarter. Rhumbline Advisers now owns 191,071 shares of the company's stock worth $3,409,000 after buying an additional 20,662 shares during the period. Belpointe Asset Management LLC acquired a new stake in shares of Atlas Energy Solutions in the first quarter worth $442,000. SCS Capital Management LLC acquired a new stake in shares of Atlas Energy Solutions in the first quarter worth $467,000. Finally, Yaupon Capital Management LP acquired a new stake in shares of Atlas Energy Solutions in the first quarter worth $5,798,000. Institutional investors and hedge funds 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.