Atlas Energy Solutions (NYSE:AESI) Shares Gap Down – Here’s What Happened

Atlas Energy Solutions Inc. (NYSE:AESI) shares gapped down before the market opened on Thursday . The stock had previously closed at $21.65, but opened at $20.70. Atlas Energy Solutions shares last traded at $19.58, with a volume of 593,908 shares.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AESI. Royal Bank of Canada reduced their target price on shares of Atlas Energy Solutions from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Friday. The Goldman Sachs Group decreased their price objective on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Piper Sandler cut their target price on Atlas Energy Solutions from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Tudor Pickering raised Atlas Energy Solutions to a “strong-buy” rating in a research report on Monday, June 24th. Finally, Benchmark reissued a “buy” rating and issued a $27.00 price objective on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. Eight analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $26.13.

Atlas Energy Solutions Price Performance

The company has a current ratio of 1.53, a quick ratio of 1.35 and a debt-to-equity ratio of 0.42. The business’s fifty day moving average is $20.89 and its 200 day moving average is $21.51. The company has a market cap of $2.25 billion, a P/E ratio of 16.22, a PEG ratio of 6.47 and a beta of 0.56.

Atlas Energy Solutions (NYSE:AESI) last issued its earnings results on Monday, August 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.18). Atlas Energy Solutions had a net margin of 13.71% and a return on equity of 16.75%. The firm had revenue of $287.52 million during the quarter, compared to the consensus estimate of $270.55 million. During the same quarter in the previous year, the firm earned $0.69 earnings per share. The business’s quarterly revenue was up 77.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Atlas Energy Solutions Inc. will post 1.48 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date was Thursday, August 15th. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.22. Atlas Energy Solutions’s dividend payout ratio (DPR) is currently 73.02%.

Insider Transactions at Atlas Energy Solutions

In other Atlas Energy Solutions news, major shareholder Gregory M. Shepard bought 3,248 shares of the stock in a transaction on Thursday, July 18th. The shares were acquired at an average price of $21.68 per share, with a total value of $70,416.64. Following the acquisition, the insider now directly owns 7,503,197 shares of the company’s stock, valued at $162,669,310.96. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Stacy Hock sold 8,571 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $19.44, for a total value of $166,620.24. Following the sale, the insider now directly owns 943,317 shares of the company’s stock, valued at approximately $18,338,082.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Gregory M. Shepard acquired 3,248 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was purchased at an average price of $21.68 per share, with a total value of $70,416.64. Following the completion of the transaction, the insider now directly owns 7,503,197 shares of the company’s stock, valued at $162,669,310.96. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 25,713 shares of company stock worth $524,117 over the last quarter. Corporate insiders own 24.34% of the company’s stock.

Institutional Trading of Atlas Energy Solutions

Several institutional investors and hedge funds have recently bought and sold shares of the company. Beck Capital Management LLC increased its stake in Atlas Energy Solutions by 0.6% in the 2nd quarter. Beck Capital Management LLC now owns 130,588 shares of the company’s stock worth $2,603,000 after acquiring an additional 749 shares during the last quarter. CWM LLC increased its position in shares of Atlas Energy Solutions by 47.1% in the third quarter. CWM LLC now owns 2,766 shares of the company’s stock worth $60,000 after purchasing an additional 886 shares during the last quarter. Cetera Investment Advisers raised its stake in Atlas Energy Solutions by 1.0% in the second quarter. Cetera Investment Advisers now owns 88,654 shares of the company’s stock valued at $1,767,000 after purchasing an additional 897 shares in the last quarter. First Horizon Advisors Inc. lifted its position in 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 during the last quarter. Finally, Amalgamated Bank grew its stake in Atlas Energy Solutions by 328.1% in the 2nd quarter. Amalgamated Bank now owns 2,350 shares of the company’s stock worth $47,000 after buying an additional 1,801 shares in the last quarter. 34.59% of the stock is currently owned by hedge funds and other institutional investors.

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.