Pine Ridge Advisers LLC Raises Stock Holdings in 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 boosted its position in shares of Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 20.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 660,480 shares of the company's stock after acquiring an additional 112,000 shares during the period. Atlas Energy Solutions accounts for about 1.0% of Pine Ridge Advisers LLC's holdings, making the stock its 14th biggest position. Pine Ridge Advisers LLC owned 0.54% of Atlas Energy Solutions worth $11,783,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AESI. Quarry LP bought a new position in shares of Atlas Energy Solutions in the 4th quarter worth $27,000. Tower Research Capital LLC TRC increased its stake in 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 last quarter. Fifth Third Bancorp raised its position in Atlas Energy Solutions by 1,240.1% during the first quarter. Fifth Third Bancorp now owns 1,970 shares of the company's stock valued at $35,000 after purchasing an additional 1,823 shares in the last quarter. Larson Financial Group LLC lifted its stake in Atlas Energy Solutions by 201.8% during the first quarter. Larson Financial Group LLC now owns 1,968 shares of the company's stock worth $35,000 after purchasing an additional 1,316 shares during the last quarter. Finally, Canton Hathaway LLC purchased a new position in shares of Atlas Energy Solutions in the 1st quarter worth about $73,000. Institutional investors own 34.59% of the company's stock.

Atlas Energy Solutions Trading Down 2.8%

Atlas Energy Solutions stock traded down $0.34 during trading hours on Thursday, reaching $11.79. The stock had a trading volume of 1,573,925 shares, compared to its average volume of 1,419,500. The company has a fifty day simple moving average of $13.61 and a 200-day simple moving average of $15.95. Atlas Energy Solutions Inc. has a 52 week low of $11.70 and a 52 week high of $26.86. The stock has a market cap of $1.46 billion, a PE ratio of 84.23 and a beta of 1.19. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.56 and a quick ratio of 1.40.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last posted 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 for the quarter, compared to analysts' expectations of $291.13 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. The business's revenue for the quarter was up 54.5% on a year-over-year basis. Analysts forecast that Atlas Energy Solutions Inc. will post 0.83 EPS for the current fiscal year.

Atlas Energy Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th will be given 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 (DPR) is currently 714.29%.

Insider Buying and Selling

In other Atlas Energy Solutions news, Director Douglas G. Rogers bought 7,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was bought at an average price of $13.27 per share, for a total transaction of $92,890.00. Following the completion of the acquisition, the director directly owned 10,000 shares in the company, valued at $132,700. The trade was a 233.33% increase in their ownership of the stock. The purchase 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 Atlas Energy Solutions stock in a transaction on Wednesday, May 14th. The shares were 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 owned 572,397 shares in the company, valued at approximately $7,658,671.86. This trade represents 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 company insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on AESI shares. Stifel Nicolaus decreased their price objective on Atlas Energy Solutions from $15.00 to $14.50 and set a "buy" rating on the stock in a report on Wednesday, July 16th. Citigroup decreased their price target on shares of 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. Royal Bank Of Canada cut their price objective 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. 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 on the stock in a research report on Thursday, April 10th. Finally, Piper Sandler reissued a "neutral" rating and issued a $16.00 price target on shares of Atlas Energy Solutions in a research note on Tuesday, July 15th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Atlas Energy Solutions currently has an average rating of "Hold" and an average price target of $19.11.

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.