Avondale Wealth Management Reduces Position in Atlas Energy Solutions Inc. (NYSE:AESI)

Avondale Wealth Management trimmed its holdings in Atlas Energy Solutions Inc. (NYSE:AESI) by 22.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,250 shares of the company’s stock after selling 3,500 shares during the quarter. Avondale Wealth Management’s holdings in Atlas Energy Solutions were worth $272,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Amalgamated Bank increased its holdings in shares of Atlas Energy Solutions by 328.1% in the second quarter. Amalgamated Bank now owns 2,350 shares of the company’s stock valued at $47,000 after purchasing an additional 1,801 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Atlas Energy Solutions in the 3rd quarter worth $48,000. FMR LLC raised its holdings in shares of Atlas Energy Solutions by 101.0% during the 3rd quarter. FMR LLC now owns 2,696 shares of the company’s stock worth $59,000 after acquiring an additional 1,355 shares during the period. CWM LLC raised its holdings in shares of Atlas Energy Solutions by 47.1% during the 3rd quarter. CWM LLC now owns 2,766 shares of the company’s stock worth $60,000 after acquiring an additional 886 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Atlas Energy Solutions by 54.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 5,297 shares of the company’s stock valued at $107,000 after purchasing an additional 1,860 shares during the period. 34.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AESI shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $25.00 target price on shares of Atlas Energy Solutions in a research note on Wednesday, October 30th. Barclays cut Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $23.00 to $19.00 in a report on Tuesday, November 12th. The Goldman Sachs Group began coverage on Atlas Energy Solutions in a research note on Friday, December 13th. They set a “neutral” rating and a $23.00 target price for the company. Pickering Energy Partners downgraded Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 30th. Finally, Citigroup cut Atlas Energy Solutions from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $23.00 to $22.00 in a report on Thursday, November 14th. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $24.67.

Insider Activity

In related news, major shareholder Brian Anthony Leveille sold 10,000 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $21.02, for a total value of $210,200.00. Following the transaction, the insider now owns 532,010 shares of the company’s stock, valued at $11,182,850.20. This represents a 1.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Gregory M. Shepard acquired 1,797 shares of the stock in a transaction dated Friday, October 18th. The shares were acquired at an average cost of $19.65 per share, with a total value of $35,311.05. Following the completion of the transaction, the insider now owns 7,507,194 shares in the company, valued at approximately $147,516,362.10. This represents a 0.02 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 60,869 shares of company stock worth $1,187,983 and have sold 129,642 shares worth $2,890,121. Insiders own 24.34% of the company’s stock.

Atlas Energy Solutions Trading Down 0.5 %

Atlas Energy Solutions stock traded down $0.10 during midday trading on Friday, reaching $21.83. 118,273 shares of the stock traded hands, compared to its average volume of 570,365. The firm has a market cap of $2.41 billion, a PE ratio of 27.63, a price-to-earnings-growth ratio of 11.53 and a beta of 1.03. The company has a current ratio of 1.23, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42. The company has a 50-day simple moving average of $22.05 and a two-hundred day simple moving average of $21.13. Atlas Energy Solutions Inc. has a 12-month low of $15.55 and a 12-month high of $24.93.

Atlas Energy Solutions (NYSE:AESI) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.25). The business had revenue of $304.40 million during the quarter, compared to analysts’ expectations of $307.93 million. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The company’s revenue for the quarter was up 93.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.51 EPS. Research analysts expect that Atlas Energy Solutions Inc. will post 0.88 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were given a dividend of $0.24 per share. The ex-dividend date was Thursday, November 7th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.40%. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.23. Atlas Energy Solutions’s dividend payout ratio is currently 121.52%.

Atlas Energy Solutions 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.