Wealth Enhancement Advisory Services LLC Makes New Investment in Atlas Energy Solutions Inc. (NYSE:AESI)

Wealth Enhancement Advisory Services LLC acquired a new position in shares of Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 51,102 shares of the company's stock, valued at approximately $912,000.

A number of other institutional investors also recently made changes to their positions in the company. First Trust Advisors LP boosted its stake in Atlas Energy Solutions by 31.5% in the 4th quarter. First Trust Advisors LP now owns 3,908,810 shares of the company's stock valued at $86,697,000 after purchasing an additional 935,410 shares during the period. Frontier Capital Management Co. LLC acquired a new stake in shares of Atlas Energy Solutions during the fourth quarter worth $17,770,000. Vanguard Group Inc. boosted its position in shares of Atlas Energy Solutions by 12.6% in the fourth quarter. Vanguard Group Inc. now owns 6,915,325 shares of the company's stock valued at $153,382,000 after acquiring an additional 773,035 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Atlas Energy Solutions by 25.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,390,269 shares of the company's stock valued at $75,197,000 after acquiring an additional 689,846 shares during the period. Finally, Cetera Investment Advisers grew its stake in shares of Atlas Energy Solutions by 593.9% in the fourth quarter. Cetera Investment Advisers now owns 639,528 shares of the company's stock valued at $14,185,000 after acquiring an additional 547,359 shares in the last quarter. Institutional investors own 34.59% of the company's stock.

Insider Activity at Atlas Energy Solutions

In related news, Director Douglas G. Rogers bought 7,000 shares of the firm's stock in a transaction on Wednesday, May 14th. The shares were purchased at an average price 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 in the company, valued at $132,700. This represents a 233.33% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Ben M. Brigham purchased 9,635 shares of the company's stock in a transaction dated Wednesday, May 14th. The stock was purchased at an average price of $13.38 per share, with a total value of $128,916.30. Following the completion of the purchase, the chairman directly owned 572,397 shares in the company, valued at $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 owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AESI. Citigroup cut their price objective on shares of Atlas Energy Solutions from $18.00 to $14.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Stifel Nicolaus started coverage on Atlas Energy Solutions in a research note on Wednesday, May 21st. They issued a "buy" rating and a $15.00 price target for the company. Royal Bank Of Canada lowered their price objective on Atlas Energy Solutions from $21.00 to $17.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Piper Sandler dropped their price objective on Atlas Energy Solutions from $22.00 to $17.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Finally, The Goldman Sachs Group reduced their target price on Atlas Energy Solutions from $22.00 to $15.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $19.28.

Atlas Energy Solutions Price Performance

Shares of Atlas Energy Solutions stock traded down $0.20 during trading on Thursday, reaching $14.12. 609,641 shares of the company's stock were exchanged, compared to its average volume of 1,383,514. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.40 and a current ratio of 1.62. Atlas Energy Solutions Inc. has a 1-year low of $11.76 and a 1-year high of $26.86. The company has a market cap of $1.75 billion, a P/E ratio of 45.55 and a beta of 1.20. The firm's 50-day moving average price is $13.43 and its 200 day moving average price is $17.56.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.10). The business had revenue of $297.59 million during the quarter, compared to the consensus estimate of $291.13 million. Atlas Energy Solutions had a net margin of 2.96% and a return on equity of 4.99%. The business's revenue was up 54.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.26 EPS. As a group, research analysts anticipate that Atlas Energy Solutions Inc. will post 0.83 earnings per share for the current year.

Atlas Energy Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 7.08%. The ex-dividend date was Thursday, May 15th. Atlas Energy Solutions's dividend payout ratio is 322.58%.

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.