Atlas Energy Solutions’ (AESI) Neutral Rating Reiterated at Piper Sandler

Piper Sandler reaffirmed their neutral rating on shares of Atlas Energy Solutions (NYSE:AESI) in a report published on Tuesday morning, MarketBeat Ratings reports. The brokerage currently has a $16.00 price objective on the stock.

Several other research analysts also recently weighed in on the stock. Stifel Nicolaus began coverage on shares of Atlas Energy Solutions in a research note on Wednesday, May 21st. They set a “buy” rating and a $15.00 price objective for the company. Citigroup dropped 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 research note on Tuesday, May 13th. The Goldman Sachs Group dropped their price objective on shares of Atlas Energy Solutions from $22.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Finally, Royal Bank Of Canada dropped their price objective on shares of Atlas Energy Solutions from $21.00 to $17.00 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $19.11.

Atlas Energy Solutions Stock Up 2.8%

Shares of Atlas Energy Solutions stock opened at $13.62 on Tuesday. The company has a quick ratio of 1.40, a current ratio of 1.62 and a debt-to-equity ratio of 0.38. Atlas Energy Solutions has a 52-week low of $11.76 and a 52-week high of $26.86. The company has a 50 day moving average of $13.50 and a 200 day moving average of $16.94. The company has a market capitalization of $1.68 billion, a P/E ratio of 43.93 and a beta of 1.20.

Atlas Energy Solutions (NYSE:AESI) last announced 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). Atlas Energy Solutions had a return on equity of 4.99% and a net margin of 2.96%. The business had revenue of $297.59 million for the quarter, compared to analysts’ expectations of $291.13 million. During the same quarter last year, the business posted $0.26 earnings per share. The business’s revenue was up 54.5% on a year-over-year basis. As a group, research analysts forecast that Atlas Energy Solutions will post 0.83 EPS for the current fiscal year.

Atlas Energy Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.00 dividend on an annualized basis and a yield of 7.34%. Atlas Energy Solutions’s payout ratio is presently 322.58%.

Insider Transactions at Atlas Energy Solutions

In other Atlas Energy Solutions news, Chairman Ben M. Brigham bought 9,635 shares of the stock in a transaction on Wednesday, May 14th. The shares were purchased at an average price of $13.38 per share, with a total value of $128,916.30. Following the acquisition, the chairman directly owned 572,397 shares of the company’s stock, valued at $7,658,671.86. This represents a 1.71% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Douglas G. Rogers acquired 7,000 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The shares were purchased at an average cost of $13.27 per share, for a total transaction of $92,890.00. Following the acquisition, the director directly owned 10,000 shares in the company, valued at $132,700. This represents a 233.33% increase in their position. The disclosure for this purchase can be found here. 15.98% of the stock is owned by company insiders.

Institutional Investors Weigh In On Atlas Energy Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP bought a new stake in Atlas Energy Solutions during the fourth quarter worth about $27,000. Tower Research Capital LLC TRC raised its holdings in Atlas Energy Solutions by 307.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,387 shares of the company’s stock worth $31,000 after acquiring an additional 1,047 shares in the last quarter. Fifth Third Bancorp raised its holdings in 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 in the last quarter. Larson Financial Group LLC raised its holdings in Atlas Energy Solutions by 201.8% during the first quarter. Larson Financial Group LLC now owns 1,968 shares of the company’s stock worth $35,000 after acquiring an additional 1,316 shares in the last quarter. Finally, Kestra Investment Management LLC bought a new stake in Atlas Energy Solutions during the first quarter worth about $55,000. Institutional investors own 34.59% of the company’s stock.

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.