Atlas Energy Solutions Inc. (NYSE:AESI) Short Interest Up 18.4% in March

Atlas Energy Solutions Inc. (NYSE:AESI) was the target of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 6,120,000 shares, a growth of 18.4% from the March 15th total of 5,170,000 shares. Based on an average daily volume of 808,400 shares, the days-to-cover ratio is presently 7.6 days. Currently, 10.2% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

AESI has been the topic of a number of analyst reports. The Goldman Sachs Group initiated coverage on shares of Atlas Energy Solutions in a report on Thursday, March 14th. They issued a “buy” rating and a $24.00 price objective on the stock. Royal Bank of Canada raised their target price 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. Finally, Barclays raised their target price on shares of Atlas Energy Solutions from $23.00 to $26.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $25.00.

Insider Activity

In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 50,000 shares of the 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 directly owns 970,738 shares in the company, valued at approximately $19,385,637.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder Stacy Hock sold 50,000 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $19.97, for a total value of $998,500.00. Following the transaction, the insider now directly owns 970,738 shares in the company, valued at approximately $19,385,637.86. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jeffrey L. Allison sold 1,547 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $22.50, for a total transaction of $34,807.50. Following the completion of the transaction, the executive vice president now owns 132,518 shares in the company, valued at $2,981,655. The disclosure for this sale can be found here. Over the last three months, insiders sold 246,860 shares of company stock worth $5,332,121. 24.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Atlas Energy Solutions

Several hedge funds have recently made changes to their positions in AESI. Royal Bank of Canada boosted its holdings in shares of Atlas Energy Solutions by 526.7% in the second quarter. Royal Bank of Canada now owns 2,206 shares of the company’s stock worth $37,000 after buying an additional 1,854 shares during the period. Tucker Asset Management LLC acquired a new position in shares of Atlas Energy Solutions in the third quarter worth about $49,000. Russell Investments Group Ltd. acquired a new position in shares of Atlas Energy Solutions in the second quarter worth about $53,000. Tower Research Capital LLC TRC acquired a new position in shares of Atlas Energy Solutions in the first quarter worth about $68,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Atlas Energy Solutions in the second quarter worth about $69,000. Institutional investors and hedge funds own 34.59% of the company’s stock.

Atlas Energy Solutions Stock Performance

Shares of AESI opened at $22.07 on Tuesday. The firm’s 50 day moving average is $20.61 and its 200-day moving average is $18.89. The stock has a market capitalization of $2.21 billion and a P/E ratio of 14.06. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.44 and a quick ratio of 3.21. Atlas Energy Solutions has a 12-month low of $15.28 and a 12-month high of $24.69.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.24). The business had revenue of $141.14 million during the quarter, compared to analyst estimates of $147.34 million. Atlas Energy Solutions had a return on equity of 47.40% and a net margin of 17.17%. Equities research analysts anticipate that Atlas Energy Solutions will post 2.92 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 22nd were paid a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $0.84 annualized dividend and a dividend yield of 3.81%. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.20. Atlas Energy Solutions’s payout ratio is currently 40.76%.

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.