Atlas Energy Solutions Inc. (NYSE:AESI) Given Consensus Recommendation of “Buy” by Brokerages

Atlas Energy Solutions Inc. (NYSE:AESI) has received an average rating of “Buy” from the ten analysts that are currently covering the stock, Marketbeat Ratings reports. Nine investment 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 covered the stock in the last year is $24.90.

Several research firms have weighed in on AESI. Raymond James decreased their target price on shares of Atlas Energy Solutions from $27.00 to $26.00 and set a “strong-buy” rating on the stock in a report on Wednesday, November 1st. Citigroup boosted their price target on shares of Atlas Energy Solutions from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, August 16th. Stephens reissued an “overweight” rating and issued a $23.00 price target on shares of Atlas Energy Solutions in a research note on Tuesday, August 1st. The Goldman Sachs Group boosted their price target on shares of Atlas Energy Solutions from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, August 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $25.00 price target on shares of Atlas Energy Solutions in a research note on Wednesday, August 2nd.

Insider Buying and Selling

In related news, major shareholder Richard W. Schmidt sold 16,708 shares of the stock in a transaction on Monday, October 16th. The shares were sold at an average price of $20.42, for a total transaction of $341,177.36. Following the completion of the sale, the insider now owns 1,703,579 shares in the company, valued at approximately $34,787,083.18. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, major shareholder Richard W. Schmidt sold 16,708 shares of the stock in a transaction on Monday, October 16th. The shares were sold at an average price of $20.42, for a total transaction of $341,177.36. Following the completion of the sale, the insider now owns 1,703,579 shares in the company, valued at approximately $34,787,083.18. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Richard W. Schmidt sold 8,640 shares of the stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $20.75, for a total transaction of $179,280.00. Following the sale, the insider now owns 1,658,306 shares of the company’s stock, valued at approximately $34,409,849.50. The disclosure for this sale can be found here. Insiders sold a total of 54,582 shares of company stock worth $1,110,984 in the last 90 days. Company insiders own 82.40% of the company’s stock.

Institutional Trading of Atlas Energy Solutions

Hedge funds have recently made changes to their positions in the company. Royal Bank of Canada lifted its stake in shares of Atlas Energy Solutions by 526.7% in the 2nd quarter. Royal Bank of Canada now owns 2,206 shares of the company’s stock worth $37,000 after acquiring an additional 1,854 shares during the period. Avondale Wealth Management acquired a new stake in shares of Atlas Energy Solutions in the 2nd quarter worth $52,000. Russell Investments Group Ltd. acquired a new stake in shares of Atlas Energy Solutions in the 2nd quarter worth $53,000. Strs Ohio acquired a new stake in shares of Atlas Energy Solutions in the 2nd quarter worth $59,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Atlas Energy Solutions in the 2nd quarter worth $69,000. Institutional investors and hedge funds own 17.86% of the company’s stock.

Atlas Energy Solutions Stock Up 0.4 %

NYSE:AESI opened at $17.17 on Friday. The company has a current ratio of 3.22, a quick ratio of 3.10 and a debt-to-equity ratio of 1.32. The company’s 50-day moving average is $21.18 and its two-hundred day moving average is $19.42. Atlas Energy Solutions has a 1-year low of $15.06 and a 1-year high of $24.69.

Atlas Energy Solutions Increases Dividend

The firm also recently declared a None dividend, which will be paid on Thursday, November 16th. Investors of record on Thursday, November 9th will be paid a dividend of $0.20 per share. The ex-dividend date is Wednesday, November 8th. This represents a yield of 4%. This is a boost from Atlas Energy Solutions’s previous None dividend of $0.15.

About Atlas Energy Solutions

Atlas Energy Solutions Inc provides proppant and logistics services to the oil and natural gas industry within the Permian Basin of West Texas and New Mexico. The company was founded in 2017 and is based in Austin, Texas.