Atlas Energy Solutions Inc. $AESI Shares Bought by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP significantly increased its stake in Atlas Energy Solutions by 674.3%, owning 125,889 shares valued at approximately $2.2 million after purchasing 109,630 shares.
• Atlas Energy Solutions announced a quarterly dividend of $0.25 per share, representing an annual yield of 8.9%, with a payout ratio of 714.29%.
• Analysts have downgraded their target prices for Atlas Energy Solutions, with a current average target price of $18.83, while the stock has a prevailing "Hold" rating among market analysts.

Quantbot Technologies LP grew its position in Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 674.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 125,889 shares of the company's stock after buying an additional 109,630 shares during the period. Quantbot Technologies LP owned 0.10% of Atlas Energy Solutions worth $2,246,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Atlas Energy Solutions in the 1st quarter worth approximately $912,000. Alpine Woods Capital Investors LLC increased its position in shares of Atlas Energy Solutions by 1,360.8% in the 1st quarter. Alpine Woods Capital Investors LLC now owns 228,082 shares of the company's stock valued at $4,069,000 after purchasing an additional 212,469 shares during the last quarter. DAVENPORT & Co LLC grew its position in shares of Atlas Energy Solutions by 65.5% in 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. grew its position in shares of Atlas Energy Solutions by 9.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 381,094 shares of the company's stock valued at $6,799,000 after buying an additional 33,404 shares during the last quarter. Finally, Amalgamated Bank grew its position in shares of Atlas Energy Solutions by 13.1% in the 1st quarter. Amalgamated Bank now owns 20,592 shares of the company's stock valued at $367,000 after buying an additional 2,383 shares during the last quarter. Hedge funds and other institutional investors own 34.59% of the company's stock.

Atlas Energy Solutions Stock Down 0.9%

AESI traded down $0.11 during trading hours on Tuesday, reaching $11.65. 246,798 shares of the stock traded hands, compared to its average volume of 1,712,121. The firm's fifty day simple moving average is $13.14 and its two-hundred day simple moving average is $14.85. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 82.86 and a beta of 1.19. Atlas Energy Solutions Inc. has a fifty-two week low of $10.92 and a fifty-two week high of $26.86. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.56 and a quick ratio of 1.30.

Atlas Energy Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.6%. The ex-dividend date was Thursday, August 14th. Atlas Energy Solutions's dividend payout ratio (DPR) is presently 714.29%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on AESI shares. Citigroup dropped their price objective 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 decreased their price objective 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. Stifel Nicolaus reduced their price target on shares of Atlas Energy Solutions from $14.50 to $14.00 and set a "buy" rating on the stock in a report on Monday, August 11th. Finally, Piper Sandler reduced their price target on shares of Atlas Energy Solutions from $16.00 to $14.00 and set a "neutral" rating on the stock in a report on Thursday, August 14th. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $18.83.

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.