Jefferies Financial Group Inc. Acquires Shares of 36,706 Atlas Energy Solutions Inc. (NYSE:AESI)

Key Points

• Jefferies Financial Group Inc. has acquired a new stake in Atlas Energy Solutions worth approximately $655,000, acquiring 36,706 shares in the first quarter.
• Several institutional investors, including Natixis Advisors LLC and XTX Topco Ltd, have also established new positions in Atlas Energy Solutions, contributing to a total of 34.59% of the stock being owned by hedge funds and institutional investors.
• Atlas Energy Solutions announced a quarterly dividend of $0.25 per share, with an annualized dividend of $1.00, representing a dividend yield of 7.9%.

Jefferies Financial Group Inc. bought a new stake in Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 36,706 shares of the company's stock, valued at approximately $655,000.

Other hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Atlas Energy Solutions during the first quarter valued at approximately $912,000. Alpine Woods Capital Investors LLC lifted its stake in shares of Atlas Energy Solutions by 1,360.8% in the first quarter. Alpine Woods Capital Investors LLC now owns 228,082 shares of the company's stock worth $4,069,000 after acquiring an additional 212,469 shares in the last quarter. DAVENPORT & Co LLC boosted its stake in shares of Atlas Energy Solutions by 65.5% during the 1st quarter. DAVENPORT & Co LLC now owns 75,800 shares of the company's stock valued at $1,352,000 after buying an additional 30,000 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Atlas Energy Solutions by 9.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 381,094 shares of the company's stock valued at $6,799,000 after acquiring an additional 33,404 shares during the last quarter. Finally, Amalgamated Bank grew its stake in Atlas Energy Solutions by 13.1% in the first quarter. Amalgamated Bank now owns 20,592 shares of the company's stock worth $367,000 after purchasing an additional 2,383 shares in the last quarter. 34.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Atlas Energy Solutions Price Performance

Shares of NYSE:AESI traded down $0.39 during trading on Wednesday, reaching $12.18. The company had a trading volume of 2,242,763 shares, compared to its average volume of 1,361,431. The firm's fifty day moving average is $13.62 and its 200 day moving average is $16.04. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.40 and a current ratio of 1.56. The firm has a market capitalization of $1.51 billion, a PE ratio of 87.03 and a beta of 1.19. Atlas Energy Solutions Inc. has a twelve month low of $11.76 and a twelve month high of $26.86.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.10). Atlas Energy Solutions had a return on equity of 3.11% and a net margin of 1.20%. The firm had revenue of $297.59 million during the quarter, compared to analyst estimates of $291.13 million. During the same quarter last year, the company earned $0.26 earnings per share. The business's revenue for the quarter was up 54.5% on a year-over-year basis. On average, equities analysts forecast that Atlas Energy Solutions Inc. will post 0.83 EPS for the current year.

Atlas Energy Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 14th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.00 annualized dividend and a yield of 8.2%. Atlas Energy Solutions's dividend payout ratio (DPR) is currently 322.58%.

Insider Activity

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

Atlas Energy Solutions 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.