Ghisallo Capital Management LLC Acquires New Holdings in Atlas Energy Solutions Inc. $AESI

Key Points

• Ghisallo Capital Management LLC purchased 750,000 shares of Atlas Energy Solutions Inc. ($AESI) for approximately $13.38 million, making it the firm's 22nd largest investment.
• Several hedge funds, including First Sabrepoint Capital Management and Ashford Capital Management, have increased their holdings in Atlas Energy Solutions, highlighting growing institutional interest.
• Atlas Energy Solutions declared a quarterly dividend of $0.25, resulting in an annualized dividend yield of 8.5% despite a high dividend payout ratio of 714.29%.

Ghisallo Capital Management LLC bought a new stake in Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 750,000 shares of the company's stock, valued at approximately $13,380,000. Atlas Energy Solutions accounts for approximately 1.2% of Ghisallo Capital Management LLC's portfolio, making the stock its 22nd biggest position. Ghisallo Capital Management LLC owned approximately 0.62% of Atlas Energy Solutions at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of AESI. First Sabrepoint Capital Management LP grew its position in Atlas Energy Solutions by 7.1% in the 1st quarter. First Sabrepoint Capital Management LP now owns 375,000 shares of the company's stock valued at $6,690,000 after buying an additional 25,000 shares during the last quarter. Ashford Capital Management Inc. grew its position in Atlas Energy Solutions by 46.0% in the 1st quarter. Ashford Capital Management Inc. now owns 1,164,775 shares of the company's stock valued at $20,780,000 after buying an additional 367,100 shares during the last quarter. Palogic Value Management L.P. grew its position in Atlas Energy Solutions by 46.2% in the 1st quarter. Palogic Value Management L.P. now owns 95,000 shares of the company's stock valued at $1,695,000 after buying an additional 30,000 shares during the last quarter. Evergreen Capital Management LLC grew its position in Atlas Energy Solutions by 7.4% in the 1st quarter. Evergreen Capital Management LLC now owns 1,000,728 shares of the company's stock valued at $17,853,000 after buying an additional 69,178 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new position in Atlas Energy Solutions in the 1st quarter valued at $937,000. 34.59% of the stock is owned by institutional investors and hedge funds.

Atlas Energy Solutions Trading Down 3.8%

NYSE:AESI traded down $0.43 on Wednesday, reaching $10.90. The stock had a trading volume of 2,231,827 shares, compared to its average volume of 1,397,738. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 35.49 and a beta of 1.19. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.56 and a quick ratio of 1.30. The firm's fifty day moving average is $12.78 and its two-hundred day moving average is $14.46. Atlas Energy Solutions Inc. has a 12-month low of $10.81 and a 12-month high of $26.86.

Atlas Energy Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were issued a $0.25 dividend. The ex-dividend date was Thursday, August 14th. This represents a $1.00 annualized dividend and a yield of 9.2%. Atlas Energy Solutions's dividend payout ratio (DPR) is presently 714.29%.

Analysts Set New Price Targets

AESI has been the topic of several research analyst reports. Piper Sandler decreased their target price on shares of Atlas Energy Solutions from $16.00 to $14.00 and set a "neutral" rating on the stock in a research report on Thursday, August 14th. Citigroup decreased their target price on shares of 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. Stifel Nicolaus decreased their target price on shares of Atlas Energy Solutions from $14.50 to $14.00 and set a "buy" rating on the stock in a research report on Monday, August 11th. Finally, Royal Bank Of Canada decreased their target price on shares of 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. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $18.83.

Atlas Energy Solutions 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.