Atlas Energy Solutions (NYSE:AESI) Stock Price Up 6.2% – Still a Buy?

Atlas Energy Solutions Inc. (NYSE:AESI) shot up 6.2% during mid-day trading on Tuesday . The company traded as high as $14.23 and last traded at $14.30. 210,572 shares traded hands during trading, a decline of 85% from the average session volume of 1,377,136 shares. The stock had previously closed at $13.46.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AESI. Benchmark dropped their price target on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Stifel Nicolaus started coverage on Atlas Energy Solutions in a research note on Wednesday, May 21st. They set a “buy” rating and a $15.00 price objective on the stock. The Goldman Sachs Group reduced their target price on Atlas Energy Solutions from $22.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, April 10th. Citigroup dropped their price target on 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. Finally, Royal Bank of Canada cut their price target on shares of Atlas Energy Solutions from $21.00 to $17.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.28.

Atlas Energy Solutions Stock Performance

The company has a market cap of $1.77 billion, a P/E ratio of 18.16 and a beta of 1.14. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.23. The business has a 50 day moving average price of $13.36 and a two-hundred day moving average price of $18.57.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.10). Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The business had revenue of $297.59 million during the quarter, compared to the consensus estimate of $291.13 million. During the same quarter in the prior year, the business posted $0.26 earnings per share. Atlas Energy Solutions’s quarterly revenue was up 54.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Atlas Energy Solutions Inc. will post 0.83 earnings per share for the current year.

Atlas Energy Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.97%. The ex-dividend date was Thursday, May 15th. Atlas Energy Solutions’s dividend payout ratio (DPR) is 322.58%.

Insider Buying and Selling

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

Institutional Investors Weigh In On Atlas Energy Solutions

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AESI. Barclays PLC lifted its holdings in Atlas Energy Solutions by 574.5% in the 3rd quarter. Barclays PLC now owns 175,082 shares of the company’s stock worth $3,817,000 after purchasing an additional 149,126 shares in the last quarter. Yousif Capital Management LLC purchased a new position in shares of Atlas Energy Solutions in the fourth quarter worth $509,000. State of Alaska Department of Revenue bought a new position in shares of Atlas Energy Solutions during the fourth quarter worth $764,000. Wilmington Savings Fund Society FSB grew its position in shares of Atlas Energy Solutions by 8.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 14,770 shares of the company’s stock valued at $328,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Louisiana State Employees Retirement System bought a new stake in Atlas Energy Solutions in the fourth quarter worth $650,000. 34.59% of the stock is owned by hedge funds and other 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.