Bryce Point Capital LLC Reduces Holdings in Atlas Energy Solutions Inc. (NYSE:AESI)

Key Points

• Bryce Point Capital LLC reduced its stake in Atlas Energy Solutions Inc. by 28.4%, now owning approximately 50,772 shares valued at around $1 million.
• Atlas Energy Solutions reported a net margin of 2.96% and revenue of $297.59 million for the last quarter, surpassing analysts' estimates.
• The company declared a quarterly dividend of $0.25 per share, yielding 7.13%, with a payout ratio of 322.58%.

Bryce Point Capital LLC reduced its position in shares of Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 28.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 50,772 shares of the company's stock after selling 20,188 shares during the period. Atlas Energy Solutions accounts for approximately 0.8% of Bryce Point Capital LLC's holdings, making the stock its 9th biggest position. Bryce Point Capital LLC's holdings in Atlas Energy Solutions were worth $1,004,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tower Research Capital LLC TRC lifted its stake in shares of Atlas Energy Solutions by 307.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,387 shares of the company's stock valued at $31,000 after buying an additional 1,047 shares during the period. Quarry LP bought a new stake in shares of Atlas Energy Solutions in the fourth quarter valued at about $27,000. New York State Teachers Retirement System lifted its stake in shares of Atlas Energy Solutions by 9.3% in the first quarter. New York State Teachers Retirement System now owns 14,161 shares of the company's stock valued at $253,000 after buying an additional 1,200 shares during the period. Mutual of America Capital Management LLC lifted its stake in shares of Atlas Energy Solutions by 13.9% in the first quarter. Mutual of America Capital Management LLC now owns 10,460 shares of the company's stock valued at $187,000 after buying an additional 1,277 shares during the period. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in shares of Atlas Energy Solutions by 6.1% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 22,440 shares of the company's stock valued at $400,000 after buying an additional 1,292 shares during the period. 34.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on AESI shares. Piper Sandler reiterated a "neutral" rating and issued a $16.00 target price on shares of Atlas Energy Solutions in a research note on Tuesday, July 15th. Stifel Nicolaus cut their price target on shares of Atlas Energy Solutions from $15.00 to $14.50 and set a "buy" rating for the company in a research note on Wednesday, July 16th. The Goldman Sachs Group cut their price target on shares of Atlas Energy Solutions from $22.00 to $15.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Royal Bank Of Canada cut their price target on shares of Atlas Energy Solutions from $21.00 to $17.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Finally, Citigroup cut their price target on shares of Atlas Energy Solutions from $18.00 to $14.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $19.11.

Insider Buying and Selling at Atlas Energy Solutions

In other news, Director Douglas G. Rogers purchased 7,000 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was bought at an average price of $13.27 per share, with a total value of $92,890.00. Following the acquisition, the director directly owned 10,000 shares of the company's stock, valued at approximately $132,700. This represents a 233.33% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Ben M. Brigham acquired 9,635 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was bought at an average cost of $13.38 per share, for a total transaction of $128,916.30. Following the completion of the transaction, the chairman directly owned 572,397 shares in the company, valued at $7,658,671.86. This represents a 1.71% increase in their position. The disclosure for this purchase can be found here. 15.98% of the stock is owned by insiders.

Atlas Energy Solutions Trading Down 1.6%

NYSE:AESI traded down $0.22 on Thursday, hitting $12.96. 711,208 shares of the stock were exchanged, compared to its average volume of 1,731,977. The company's 50-day moving average price is $13.61 and its 200 day moving average price is $16.43. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.40 and a current ratio of 1.62. Atlas Energy Solutions Inc. has a 52 week low of $11.76 and a 52 week high of $26.86. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 41.89 and a beta of 1.20.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.10). Atlas Energy Solutions had a return on equity of 4.99% and a net margin of 2.96%. The business had revenue of $297.59 million for the quarter, compared to analyst estimates of $291.13 million. During the same period in the prior year, the firm posted $0.26 EPS. Atlas Energy Solutions's revenue was up 54.5% on a year-over-year basis. On average, equities research analysts forecast that Atlas Energy Solutions Inc. will post 0.83 earnings per share for the current year.

Atlas Energy Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 7.72%. The ex-dividend date was Thursday, May 15th. Atlas Energy Solutions's dividend payout ratio is presently 322.58%.

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.