Atlas Energy Solutions Inc. (NYSE:AESI) Stake Lifted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its position in shares of Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 9.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 381,094 shares of the company's stock after buying an additional 33,404 shares during the period. Envestnet Asset Management Inc. owned about 0.31% of Atlas Energy Solutions worth $6,799,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted its holdings 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 acquiring an additional 1,047 shares during the period. Quarry LP purchased a new position in shares of Atlas Energy Solutions during the fourth quarter worth approximately $27,000. New York State Teachers Retirement System grew its position in shares of Atlas Energy Solutions by 9.3% during the first quarter. New York State Teachers Retirement System now owns 14,161 shares of the company's stock worth $253,000 after acquiring an additional 1,200 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Atlas Energy Solutions by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,630 shares of the company's stock worth $857,000 after purchasing an additional 1,354 shares during the period. Finally, Fifth Third Bancorp lifted its holdings in shares of Atlas Energy Solutions by 1,240.1% during the first quarter. Fifth Third Bancorp now owns 1,970 shares of the company's stock worth $35,000 after purchasing an additional 1,823 shares during the period. 34.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Atlas Energy Solutions Trading Down 0.2%

AESI traded down $0.03 during midday trading on Friday, hitting $14.02. The company's stock had a trading volume of 970,101 shares, compared to its average volume of 1,503,708. The company has a current ratio of 1.62, a quick ratio of 1.40 and a debt-to-equity ratio of 0.38. The firm has a market cap of $1.73 billion, a P/E ratio of 45.24 and a beta of 1.20. The firm has a 50-day moving average price of $13.57 and a two-hundred day moving average price of $16.54. Atlas Energy Solutions Inc. has a 52-week low of $11.76 and a 52-week high of $26.86.

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

Atlas Energy Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 7.13%. The ex-dividend date of this dividend was Thursday, May 15th. Atlas Energy Solutions's dividend payout ratio is currently 322.58%.

Insider Activity

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

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.