Wealth Enhancement Advisory Services LLC Boosts Stock Holdings in Atlas Energy Solutions Inc. $AESI

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Atlas Energy Solutions Inc. by 60.5% during the second quarter, owning 82,041 shares valued at approximately $1.16 million.
• The company has recently issued a quarterly dividend of $0.25 per share, which translates to an annualized yield of 8.8% with a payout ratio of 714.29%.
• Analysts currently have a consensus rating of "Hold" on Atlas Energy Solutions, with an average target price adjusted to $18.83.

Wealth Enhancement Advisory Services LLC grew its position in shares of Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 60.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,041 shares of the company's stock after acquiring an additional 30,939 shares during the quarter. Wealth Enhancement Advisory Services LLC owned 0.07% of Atlas Energy Solutions worth $1,158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. boosted its holdings in Atlas Energy Solutions by 1.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 75,065 shares of the company's stock worth $1,004,000 after acquiring an additional 725 shares during the last quarter. First Hawaiian Bank boosted its holdings in Atlas Energy Solutions by 5.2% during the 1st quarter. First Hawaiian Bank now owns 55,252 shares of the company's stock worth $986,000 after acquiring an additional 2,748 shares during the last quarter. Rhumbline Advisers boosted its holdings in Atlas Energy Solutions by 12.1% during the 1st quarter. Rhumbline Advisers now owns 191,071 shares of the company's stock worth $3,409,000 after acquiring an additional 20,662 shares during the last quarter. Belpointe Asset Management LLC purchased a new position in Atlas Energy Solutions during the 1st quarter worth $442,000. Finally, SCS Capital Management LLC purchased a new position in Atlas Energy Solutions during the 1st quarter worth $467,000. 34.59% of the stock is owned by hedge funds and other institutional investors.

Atlas Energy Solutions Price Performance

AESI opened at $11.36 on Thursday. The stock has a fifty day simple moving average of $11.72 and a two-hundred day simple moving average of $13.36. The company has a current ratio of 1.56, a quick ratio of 1.30 and a debt-to-equity ratio of 0.39. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 81.11 and a beta of 1.17. Atlas Energy Solutions Inc. has a 12-month low of $10.40 and a 12-month high of $26.86.

Atlas Energy Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were issued a $0.25 dividend. The ex-dividend date was Thursday, August 14th. This represents a $1.00 dividend on an annualized basis and a yield of 8.8%. Atlas Energy Solutions's dividend payout ratio is 714.29%.

Analysts Set New Price Targets

A number of research firms have recently commented on AESI. Piper Sandler lowered their target price on Atlas Energy Solutions from $16.00 to $14.00 and set a "neutral" rating on the stock in a research note on Thursday, August 14th. Stifel Nicolaus lowered their target price on Atlas Energy Solutions from $14.50 to $14.00 and set a "buy" rating on the stock in a research note on Monday, August 11th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $18.83.

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.

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