Short Interest in Atlas Energy Solutions Inc. (NYSE:AESI) Expands By 9.2%

Atlas Energy Solutions Inc. (NYSE:AESI) saw a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 13,820,000 shares, a growth of 9.2% from the November 30th total of 12,650,000 shares. Based on an average daily volume of 1,210,000 shares, the days-to-cover ratio is currently 11.4 days. Currently, 21.2% of the company’s shares are sold short.

Insiders Place Their Bets

In other Atlas Energy Solutions news, major shareholder Gregory M. Shepard purchased 13,363 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was bought at an average cost of $19.19 per share, for a total transaction of $256,435.97. Following the completion of the purchase, the insider now owns 7,619,055 shares in the company, valued at $146,209,665.45. This represents a 0.18 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Brian Anthony Leveille sold 10,000 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $20.50, for a total transaction of $205,000.00. Following the completion of the transaction, the insider now directly owns 542,010 shares of the company’s stock, valued at $11,111,205. The trade was a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 60,869 shares of company stock worth $1,187,983 and have sold 133,213 shares worth $2,959,311. 24.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Atlas Energy Solutions

A number of large investors have recently modified their holdings of the business. Bank of New York Mellon Corp lifted its stake in shares of Atlas Energy Solutions by 58.5% in the second quarter. Bank of New York Mellon Corp now owns 530,197 shares of the company’s stock valued at $10,567,000 after purchasing an additional 195,772 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Atlas Energy Solutions during the second quarter worth $74,000. nVerses Capital LLC purchased a new stake in shares of Atlas Energy Solutions in the 2nd quarter worth about $106,000. Rhumbline Advisers increased its stake in shares of Atlas Energy Solutions by 230.1% during the 2nd quarter. Rhumbline Advisers now owns 84,612 shares of the company’s stock worth $1,686,000 after purchasing an additional 58,981 shares in the last quarter. Finally, Mesirow Institutional Investment Management Inc. lifted its stake in Atlas Energy Solutions by 11.6% in the 2nd quarter. Mesirow Institutional Investment Management Inc. now owns 456,395 shares of the company’s stock valued at $9,096,000 after buying an additional 47,307 shares in the last quarter. 34.59% of the stock is owned by hedge funds and other institutional investors.

Atlas Energy Solutions Stock Performance

Shares of AESI stock traded up $0.53 during trading hours on Tuesday, hitting $22.85. The stock had a trading volume of 71,432 shares, compared to its average volume of 954,107. The stock’s 50 day moving average is $21.71 and its 200 day moving average is $21.00. The firm has a market capitalization of $2.52 billion, a PE ratio of 28.92, a PEG ratio of 11.53 and a beta of 0.96. Atlas Energy Solutions has a twelve month low of $15.55 and a twelve month high of $24.93. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.08.

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

Atlas Energy Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were given a $0.24 dividend. The ex-dividend date was Thursday, November 7th. This represents a $0.96 dividend on an annualized basis and a yield of 4.20%. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.23. Atlas Energy Solutions’s dividend payout ratio (DPR) is presently 121.52%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on 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. The Goldman Sachs Group assumed coverage on Atlas Energy Solutions in a report on Friday, December 13th. They issued a “neutral” rating and a $23.00 price objective on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 target price on shares of Atlas Energy Solutions in a research report on Wednesday, October 30th. Barclays cut shares of Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $23.00 to $19.00 in a research note on Tuesday, November 12th. Finally, Citigroup downgraded shares of Atlas Energy Solutions from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $23.00 to $22.00 in a research note on Thursday, November 14th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $24.67.

About Atlas Energy Solutions

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.