Atlas Energy Solutions Inc. (NYSE:AESI) Receives Average Rating of “Buy” from Brokerages

Shares of Atlas Energy Solutions Inc. (NYSE:AESIGet Free Report) have received an average recommendation of “Buy” from the six brokerages that are presently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $25.17.

Several equities analysts recently commented on AESI shares. Royal Bank of Canada upped their price target on shares of Atlas Energy Solutions from $23.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, February 28th. Raymond James increased their target price on Atlas Energy Solutions from $26.00 to $27.00 and gave the stock a “strong-buy” rating in a report on Tuesday, April 16th. Barclays upped their price objective on shares of Atlas Energy Solutions from $23.00 to $26.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Finally, The Goldman Sachs Group started coverage on shares of Atlas Energy Solutions in a report on Thursday, March 14th. They issued a “buy” rating and a $24.00 target price on the stock.

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Atlas Energy Solutions Trading Up 1.6 %

Atlas Energy Solutions stock opened at $23.53 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.05 and a current ratio of 2.24. The stock has a 50-day simple moving average of $22.57 and a 200 day simple moving average of $19.29. The stock has a market capitalization of $2.35 billion, a P/E ratio of 13.07, a PEG ratio of 2.82 and a beta of 0.66. Atlas Energy Solutions has a 52 week low of $15.28 and a 52 week high of $24.69.

Atlas Energy Solutions (NYSE:AESIGet Free Report) last issued its earnings results on Monday, May 6th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.12). Atlas Energy Solutions had a return on equity of 29.56% and a net margin of 19.98%. The business had revenue of $192.67 million for the quarter, compared to the consensus estimate of $196.39 million. During the same quarter in the prior year, the firm posted $0.03 earnings per share. The business’s revenue was up 25.6% compared to the same quarter last year. Analysts expect that Atlas Energy Solutions will post 2.06 earnings per share for the current year.

Atlas Energy Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 16th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 3.74%. Atlas Energy Solutions’s payout ratio is 35.56%.

Insider Transactions at Atlas Energy Solutions

In other news, major shareholder Stacy Hock sold 50,000 shares of Atlas Energy Solutions stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $19.97, for a total transaction of $998,500.00. Following the sale, the insider now directly owns 970,738 shares of the company’s stock, valued at $19,385,637.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Stacy Hock sold 50,000 shares of Atlas Energy Solutions stock in a transaction on Friday, March 8th. The shares were sold at an average price of $19.97, for a total transaction of $998,500.00. Following the transaction, the insider now owns 970,738 shares in the company, valued at $19,385,637.86. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Dathan C. Voelter sold 2,270 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $22.41, for a total value of $50,870.70. Following the completion of the sale, the general counsel now owns 386,601 shares of the company’s stock, valued at $8,663,728.41. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 343,958 shares of company stock worth $7,567,109. Corporate insiders own 24.34% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. acquired a new position in Atlas Energy Solutions in the third quarter valued at approximately $292,000. Bank of New York Mellon Corp grew its holdings in Atlas Energy Solutions by 20.6% in the third quarter. Bank of New York Mellon Corp now owns 57,602 shares of the company’s stock worth $1,280,000 after purchasing an additional 9,833 shares during the period. Panagora Asset Management Inc. bought a new stake in Atlas Energy Solutions in the third quarter valued at $629,000. Ieq Capital LLC bought a new stake in Atlas Energy Solutions in the third quarter valued at $269,000. Finally, Flputnam Investment Management Co. acquired a new position in shares of Atlas Energy Solutions during the third quarter valued at about $227,000. 34.59% of the stock is owned by institutional investors and hedge funds.

Atlas Energy Solutions Company Profile

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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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Analyst Recommendations for Atlas Energy Solutions (NYSE:AESI)

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