Atlas Energy Solutions (NYSE:AESI) Shares Gap Up – Time to Buy?

Atlas Energy Solutions Inc. (NYSE:AESI) gapped up prior to trading on Friday . The stock had previously closed at $21.51, but opened at $23.85. Atlas Energy Solutions shares last traded at $23.37, with a volume of 767,923 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Stephens restated an “overweight” rating and set a $28.00 price objective on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Benchmark reaffirmed a “buy” rating and set a $27.00 target price on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. Pickering Energy Partners cut shares of Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 30th. Citigroup downgraded Atlas Energy Solutions from a “buy” rating to a “neutral” rating and decreased their price target for the company from $23.00 to $22.00 in a research report on Thursday, November 14th. Finally, The Goldman Sachs Group cut Atlas Energy Solutions from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $23.00 to $21.00 in a research report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.44.

Atlas Energy Solutions Stock Up 10.8 %

The company has a market cap of $2.63 billion, a P/E ratio of 29.98, a P/E/G ratio of 11.57 and a beta of 0.69. The stock has a 50-day moving average of $21.01 and a two-hundred day moving average of $21.04. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.23.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.25). Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The business had revenue of $304.40 million during the quarter, compared to analysts’ expectations of $307.93 million. During the same period last year, the company posted $0.51 EPS. Atlas Energy Solutions’s revenue for the quarter was up 93.1% on a year-over-year basis. On average, research analysts anticipate that Atlas Energy Solutions Inc. will post 0.8 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 4.03%. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.23. The ex-dividend date was Thursday, November 7th. Atlas Energy Solutions’s payout ratio is presently 121.52%.

Insider Buying and Selling at Atlas Energy Solutions

In other news, major shareholder Brian Anthony Leveille sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $20.50, for a total transaction of $205,000.00. Following the transaction, the insider now directly owns 542,010 shares of the company’s stock, valued at approximately $11,111,205. The trade was a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Stacy Hock sold 8,571 shares of Atlas Energy Solutions stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $21.49, for a total transaction of $184,190.79. Following the completion of the sale, the insider now owns 934,746 shares in the company, valued at approximately $20,087,691.54. This trade represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders bought 60,869 shares of company stock valued at $1,187,983 and sold 75,713 shares valued at $1,581,831. 24.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Atlas Energy Solutions

Several hedge funds have recently made changes to their positions in AESI. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Atlas Energy Solutions by 1.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,931 shares of the company’s stock worth $979,000 after acquiring an additional 711 shares in the last quarter. Beck Capital Management LLC lifted its stake in shares of Atlas Energy Solutions by 0.6% in the second quarter. Beck Capital Management LLC now owns 130,588 shares of the company’s stock worth $2,603,000 after buying an additional 749 shares in the last quarter. CWM LLC increased its position in shares of Atlas Energy Solutions by 47.1% during the third quarter. CWM LLC now owns 2,766 shares of the company’s stock valued at $60,000 after acquiring an additional 886 shares in the last quarter. Cetera Investment Advisers raised its holdings in Atlas Energy Solutions by 1.0% in the 2nd quarter. Cetera Investment Advisers now owns 88,654 shares of the company’s stock worth $1,767,000 after acquiring an additional 897 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in shares of Atlas Energy Solutions by 313.7% during the second quarter. First Horizon Advisors Inc. now owns 1,725 shares of the company’s stock valued at $34,000 after purchasing an additional 1,308 shares in the last quarter. 34.59% of the stock is currently owned by institutional investors.

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.