Wealth Enhancement Advisory Services LLC Invests $912,000 in Atlas Energy Solutions Inc. (NYSE:AESI)

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

Other hedge funds also recently added to or reduced their stakes in the company. Quarry LP purchased a new position in Atlas Energy Solutions in the fourth quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC increased its stake in Atlas Energy Solutions by 62.9% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,354 shares of the company's stock valued at $30,000 after purchasing an additional 523 shares during the last quarter. 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 purchasing an additional 1,047 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Atlas Energy Solutions by 1,240.1% during the first quarter. Fifth Third Bancorp now owns 1,970 shares of the company's stock worth $35,000 after acquiring an additional 1,823 shares during the last quarter. Finally, Promus Capital LLC purchased a new position in shares of Atlas Energy Solutions during the fourth quarter worth approximately $55,000. 34.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AESI shares. The Goldman Sachs Group lowered 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. Royal Bank Of Canada lowered 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 research report on Wednesday, May 7th. Stifel Nicolaus began coverage on Atlas Energy Solutions in a report on Wednesday, May 21st. They set a "buy" rating and a $15.00 price target on the stock. Citigroup dropped 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. Finally, Piper Sandler decreased their price objective on Atlas Energy Solutions from $22.00 to $17.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Atlas Energy Solutions presently has a consensus rating of "Hold" and a consensus target price of $19.28.

Atlas Energy Solutions Stock Performance

Shares of AESI stock traded down $0.20 during mid-day trading on Friday, hitting $14.12. The stock had a trading volume of 609,641 shares, compared to its average volume of 1,388,397. Atlas Energy Solutions Inc. has a fifty-two week low of $11.76 and a fifty-two week high of $26.86. The firm has a market cap of $1.75 billion, a PE ratio of 45.55 and a beta of 1.20. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.62 and a quick ratio of 1.40. The company's 50-day simple moving average is $13.43 and its 200-day simple moving average is $17.41.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.10). Atlas Energy Solutions had a return on equity of 4.99% and a net margin of 2.96%. The firm had revenue of $297.59 million during the quarter, compared to analyst estimates of $291.13 million. During the same quarter last year, the business posted $0.26 EPS. The firm's revenue was up 54.5% on a year-over-year basis. Sell-side analysts anticipate that Atlas Energy Solutions Inc. will post 0.83 earnings per share for the current year.

Atlas Energy Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 7.08%. The ex-dividend date of this dividend was Thursday, May 15th. Atlas Energy Solutions's dividend payout ratio (DPR) is currently 322.58%.

Insiders Place Their Bets

In other Atlas Energy Solutions news, Chairman Ben M. Brigham bought 9,635 shares of Atlas Energy Solutions stock in a transaction on Wednesday, May 14th. The stock was bought at an average price of $13.38 per share, with a total value of $128,916.30. Following the completion of the acquisition, the chairman owned 572,397 shares in the company, valued at $7,658,671.86. The trade was a 1.71% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Douglas G. Rogers bought 7,000 shares of Atlas Energy Solutions stock in a transaction on Wednesday, May 14th. The stock was acquired at an average cost of $13.27 per share, with a total value of $92,890.00. Following the acquisition, 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 disclosure for this purchase can be found here. 15.98% of the stock is currently owned by company insiders.

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.