AlphaQuest LLC Makes New Investment in Atlas Energy Solutions Inc. $AESI

Key Points

• AlphaQuest LLC has made a new investment in Atlas Energy Solutions Inc., acquiring 23,768 shares valued at approximately $424,000 during the first quarter of 2023.
• Atlas Energy Solutions recently declared a quarterly dividend of $0.25, equating to an annualized yield of 8.6%, with a payout ratio of 714.29%.
• Despite positive investments, Atlas Energy Solutions' stock has seen a decline of 1.2%, currently trading at $11.62, reflecting a 12-month low of $10.92 and a high of $26.86.

AlphaQuest LLC bought a new position in shares of Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 23,768 shares of the company's stock, valued at approximately $424,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. HITE Hedge Asset Management LLC bought a new stake in Atlas Energy Solutions during the 1st quarter worth approximately $18,844,000. Quantbot Technologies LP grew its holdings in Atlas Energy Solutions by 674.3% during the 1st quarter. Quantbot Technologies LP now owns 125,889 shares of the company's stock worth $2,246,000 after acquiring an additional 109,630 shares during the last quarter. Wellington Management Group LLP grew its holdings in Atlas Energy Solutions by 5.6% during the 1st quarter. Wellington Management Group LLP now owns 903,711 shares of the company's stock worth $16,122,000 after acquiring an additional 48,306 shares during the last quarter. Northern Trust Corp grew its holdings in Atlas Energy Solutions by 7.6% during the 1st quarter. Northern Trust Corp now owns 966,528 shares of the company's stock worth $17,243,000 after acquiring an additional 68,275 shares during the last quarter. Finally, Versor Investments LP bought a new stake in Atlas Energy Solutions during the 1st quarter worth approximately $629,000. 34.59% of the stock is owned by institutional investors.

Atlas Energy Solutions Stock Down 1.2%

Atlas Energy Solutions stock opened at $11.62 on Wednesday. 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 12-month low of $10.92 and a 12-month high of $26.86. The firm's fifty day moving average is $13.07 and its 200 day moving average is $14.83. The company has a market capitalization of $1.44 billion, a PE ratio of 82.97 and a beta of 1.19.

Atlas Energy Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.6%. The ex-dividend date of this dividend was Thursday, August 14th. Atlas Energy Solutions's payout ratio is 714.29%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Piper Sandler reduced 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 report on Thursday, August 14th. Royal Bank Of Canada dropped their price target 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. Stifel Nicolaus dropped their price target 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, Citigroup dropped their price target 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. 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.com, the company has an average rating of "Hold" and an average 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.

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