Atlas Energy Solutions Inc. $AESI Shares Bought by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. increased its stake in Atlas Energy Solutions Inc. by 30%, acquiring an additional 141,069 shares, bringing its total ownership to 610,912 shares worth approximately $10.9 million.
• Atlas Energy Solutions recently announced a quarterly dividend of $0.25 per share, which yields an annualized 9.3%, although the payout ratio is notably high at 714.29%.
• Analysts have adjusted their price targets for Atlas Energy Solutions, with mentions of a drop from $18.00 to $14.00, resulting in an average price target of $18.83 across ratings.

Adage Capital Partners GP L.L.C. increased its holdings in shares of Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 30.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 610,912 shares of the company's stock after purchasing an additional 141,069 shares during the period. Adage Capital Partners GP L.L.C. owned 0.50% of Atlas Energy Solutions worth $10,899,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Royal Bank of Canada boosted its stake in Atlas Energy Solutions by 26.0% during the 1st quarter. Royal Bank of Canada now owns 249,793 shares of the company's stock worth $4,456,000 after purchasing an additional 51,477 shares during the period. Ghisallo Capital Management LLC acquired a new stake in Atlas Energy Solutions during the 1st quarter worth $13,380,000. First Sabrepoint Capital Management LP boosted its stake in Atlas Energy Solutions by 7.1% during the 1st quarter. First Sabrepoint Capital Management LP now owns 375,000 shares of the company's stock worth $6,690,000 after purchasing an additional 25,000 shares during the period. Ashford Capital Management Inc. raised its position in Atlas Energy Solutions by 46.0% during the 1st quarter. Ashford Capital Management Inc. now owns 1,164,775 shares of the company's stock worth $20,780,000 after buying an additional 367,100 shares during the last quarter. Finally, Palogic Value Management L.P. lifted its stake in shares of 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 worth $1,695,000 after acquiring an additional 30,000 shares during the period. Institutional investors and hedge funds own 34.59% of the company's stock.

Atlas Energy Solutions Price Performance

Shares of NYSE AESI traded down $0.14 during midday trading on Friday, hitting $10.79. The company had a trading volume of 1,244,110 shares, compared to its average volume of 1,472,239. The company has a quick ratio of 1.30, a current ratio of 1.56 and a debt-to-equity ratio of 0.39. Atlas Energy Solutions Inc. has a twelve month low of $10.40 and a twelve month high of $26.86. The business has a 50-day simple moving average of $12.35 and a two-hundred day simple moving average of $13.96. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 77.08 and a beta of 1.19.

Atlas Energy Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were paid a $0.25 dividend. The ex-dividend date was Thursday, August 14th. This represents a $1.00 annualized dividend and a dividend yield of 9.3%. Atlas Energy Solutions's dividend payout ratio (DPR) is 714.29%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AESI. Stifel Nicolaus reduced their target price on shares of Atlas Energy Solutions from $14.50 to $14.00 and set a "buy" rating for the company in a research note on Monday, August 11th. Piper Sandler reduced their target price on shares of Atlas Energy Solutions from $16.00 to $14.00 and set a "neutral" rating for the company in a research note on Thursday, August 14th. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $18.83.

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.