Atlas Energy Solutions Inc. $AESI Shares Bought by Ashford Capital Management Inc.

Key Points

• Ashford Capital Management Inc. increased its stake in Atlas Energy Solutions by 46.0% during the first quarter, reaching over 1.1 million shares valued at approximately $20.78 million.
• Notable analysts have downgraded their price targets for Atlas Energy Solutions, with Royal Bank of Canada lowering it from $21.00 to $17.00 and Citigroup adjusting from $18.00 to $14.00.
• Atlas Energy Solutions recently declared a quarterly dividend of $0.25 per share, resulting in an annualized dividend yield of 8.5%.

Ashford Capital Management Inc. grew its holdings in shares of Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 46.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,164,775 shares of the company's stock after buying an additional 367,100 shares during the period. Atlas Energy Solutions accounts for about 2.7% of Ashford Capital Management Inc.'s holdings, making the stock its 15th largest holding. Ashford Capital Management Inc. owned about 0.96% of Atlas Energy Solutions worth $20,780,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Palogic Value Management L.P. lifted its holdings 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 valued at $1,695,000 after purchasing an additional 30,000 shares during the last quarter. Evergreen Capital Management LLC increased its position in Atlas Energy Solutions by 7.4% during the 1st quarter. Evergreen Capital Management LLC now owns 1,000,728 shares of the company's stock worth $17,853,000 after purchasing an additional 69,178 shares during the period. OMERS ADMINISTRATION Corp acquired a new position in Atlas Energy Solutions during the 1st quarter worth approximately $937,000. Corebridge Financial Inc. increased its position in Atlas Energy Solutions by 7.9% during the 1st quarter. Corebridge Financial Inc. now owns 38,749 shares of the company's stock worth $691,000 after purchasing an additional 2,836 shares during the period. Finally, Comerica Bank grew its holdings in shares of Atlas Energy Solutions by 5.4% in the 1st quarter. Comerica Bank now owns 62,049 shares of the company's stock worth $1,107,000 after acquiring an additional 3,175 shares during the period. 34.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on AESI. Piper Sandler lowered their price target on Atlas Energy Solutions from $16.00 to $14.00 and set a "neutral" rating on the stock in a report on Thursday, August 14th. Stifel Nicolaus reduced their price target on Atlas Energy Solutions from $14.50 to $14.00 and set a "buy" rating on the stock in a research note on Monday, August 11th. Citigroup reduced their price target on Atlas Energy Solutions from $18.00 to $14.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Finally, Royal Bank Of Canada dropped their price objective on Atlas Energy Solutions from $21.00 to $17.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Atlas Energy Solutions presently has an average rating of "Hold" and an average target price of $18.83.

Atlas Energy Solutions Stock Down 3.8%

NYSE:AESI traded down $0.43 during mid-day trading on Wednesday, reaching $10.90. The stock had a trading volume of 2,231,827 shares, compared to its average volume of 1,705,761. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 77.83 and a beta of 1.19. Atlas Energy Solutions Inc. has a 1-year low of $10.81 and a 1-year high of $26.86. The stock's 50 day simple moving average is $12.82 and its two-hundred day simple moving average is $14.49. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.56 and a quick ratio of 1.30.

Atlas Energy Solutions Announces Dividend

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

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.