Pine Ridge Advisers LLC Buys 112,000 Shares of Atlas Energy Solutions Inc. (NYSE:AESI)

Key Points

• Pine Ridge Advisers LLC increased its stake in Atlas Energy Solutions Inc. by 20.4%, purchasing an additional 112,000 shares, bringing its total to 660,480 shares, representing 1.0% of its holdings.
• Multiple hedge funds have recently modified their positions in AESI, with Vanguard Group Inc. boosting its stake by 12.6% to own approximately 6.9 million shares valued at $153.4 million.
• Atlas Energy Solutions reported a missed earnings estimate for the quarter, posting $0.08 earnings per share against an expected $0.18, even though revenue increased by 54.5% year-over-year.

Pine Ridge Advisers LLC raised its stake in Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 20.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 660,480 shares of the company's stock after acquiring an additional 112,000 shares during the quarter. Atlas Energy Solutions comprises 1.0% of Pine Ridge Advisers LLC's holdings, making the stock its 14th largest position. Pine Ridge Advisers LLC owned 0.54% of Atlas Energy Solutions worth $11,783,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Tower Research Capital LLC TRC grew its position in shares of Atlas Energy Solutions by 307.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,387 shares of the company's stock worth $31,000 after purchasing an additional 1,047 shares in the last quarter. Quarry LP bought a new stake in shares of Atlas Energy Solutions in the fourth quarter valued at approximately $27,000. New York State Teachers Retirement System grew its position in 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 buying an additional 1,200 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in Atlas Energy Solutions by 13.9% during the 1st quarter. Mutual of America Capital Management LLC now owns 10,460 shares of the company's stock worth $187,000 after acquiring an additional 1,277 shares during the period. Finally, Teachers Retirement System of The State of Kentucky lifted its position in shares of Atlas Energy Solutions by 6.1% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 22,440 shares of the company's stock valued at $400,000 after acquiring an additional 1,292 shares during the period. 34.59% of the stock is currently owned by institutional investors and hedge funds.

Atlas Energy Solutions Price Performance

Shares of Atlas Energy Solutions stock traded down $0.07 during midday trading on Friday, hitting $11.73. 1,459,315 shares of the company traded hands, compared to its average volume of 1,440,067. The firm's fifty day moving average price is $13.60 and its 200-day moving average price is $15.87. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 83.79 and a beta of 1.19. Atlas Energy Solutions Inc. has a 12 month low of $11.60 and a 12 month high of $26.86. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.40 and a current ratio of 1.56.

Atlas Energy Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.5%. The ex-dividend date is Thursday, August 14th. Atlas Energy Solutions's dividend payout ratio is presently 714.29%.

Insiders Place Their Bets

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

Analyst Ratings Changes

A number of brokerages recently commented on AESI. Citigroup decreased their price target on 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. Royal Bank Of Canada decreased their target price on shares of Atlas Energy Solutions from $21.00 to $17.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Piper Sandler reaffirmed a "neutral" rating and set a $16.00 price target on shares of Atlas Energy Solutions in a report on Tuesday, July 15th. Finally, Stifel Nicolaus reduced their price target on shares of Atlas Energy Solutions from $15.00 to $14.50 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $19.11.

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.