Analysts Set Atlas Energy Solutions Inc. (NYSE:AESI) Target Price at $24.39

Shares of Atlas Energy Solutions Inc. (NYSE:AESI) have received a consensus recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $23.83.

A number of analysts recently issued reports on the company. The Goldman Sachs Group assumed coverage on Atlas Energy Solutions in a research report on Friday, December 13th. They issued a “neutral” rating and a $23.00 target price on the stock. Barclays reduced their price target on Atlas Energy Solutions from $23.00 to $19.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Bank of America reiterated a “neutral” rating and set a $22.50 price target on shares of Atlas Energy Solutions in a report on Monday, January 13th. Raymond James cut Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, January 6th. Finally, Piper Sandler started coverage on Atlas Energy Solutions in a report on Wednesday. They set an “overweight” rating and a $22.00 price target for the company.

Insider Transactions at Atlas Energy Solutions

In other news, major shareholder Stacy Hock sold 10,000 shares of Atlas Energy Solutions stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $21.96, for a total value of $219,600.00. Following the completion of the sale, the insider now directly owns 907,604 shares in the company, valued at approximately $19,930,983.84. The trade was a 1.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Brian Anthony Leveille sold 5,000 shares of Atlas Energy Solutions stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $23.17, for a total transaction of $115,850.00. Following the completion of the sale, the insider now owns 409,510 shares of the company’s stock, valued at approximately $9,488,346.70. The trade was a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,571 shares of company stock worth $1,473,876 over the last quarter. Company insiders own 24.34% of the company’s stock.

Institutional Investors Weigh In On Atlas Energy Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP acquired a new stake in shares of Atlas Energy Solutions in the fourth quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC raised its position in shares of Atlas Energy Solutions by 62.9% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,354 shares of the company’s stock valued at $30,000 after buying an additional 523 shares in the last quarter. Tower Research Capital LLC TRC raised its position 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 valued at $31,000 after purchasing an additional 1,047 shares in the last quarter. Global Retirement Partners LLC raised its position in Atlas Energy Solutions by 191.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,941 shares of the company’s stock valued at $43,000 after purchasing an additional 1,276 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in Atlas Energy Solutions during the third quarter valued at approximately $48,000. 34.59% of the stock is currently owned by institutional investors and hedge funds.

Atlas Energy Solutions Price Performance

NYSE:AESI opened at $17.72 on Friday. 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 stock’s 50-day simple moving average is $21.39 and its 200 day simple moving average is $21.48. The company has a market cap of $2.16 billion, a P/E ratio of 22.43 and a beta of 1.18. Atlas Energy Solutions has a 52-week low of $16.98 and a 52-week high of $26.86.

Atlas Energy Solutions (NYSE:AESI) last released its earnings results on Monday, February 24th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.12). The company had revenue of $271.34 million during the quarter, compared to analyst estimates of $272.94 million. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. As a group, sell-side analysts forecast that Atlas Energy Solutions will post 0.83 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 21st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.64%. The ex-dividend date of this dividend was Friday, February 21st. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.24. Atlas Energy Solutions’s payout ratio is currently 178.57%.

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.