Atlas Energy Solutions Inc. (NYSE:AESI) Sees Large Increase in Short Interest

Atlas Energy Solutions Inc. (NYSE:AESI) saw a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 10,580,000 shares, an increase of 11.1% from the October 31st total of 9,520,000 shares. Currently, 16.3% of the company’s shares are sold short. Based on an average daily volume of 1,150,000 shares, the short-interest ratio is presently 9.2 days.

Analysts Set New Price Targets

A number of research firms have commented on AESI. Pickering Energy Partners cut shares of Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research note on Wednesday, October 30th. Barclays downgraded 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 report on Tuesday, November 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $25.00 price objective on shares of Atlas Energy Solutions in a research note on Wednesday, October 30th. Benchmark reissued a “buy” rating and issued a $27.00 price target on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Finally, The Goldman Sachs Group downgraded Atlas Energy Solutions from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $23.00 to $21.00 in a research report on Thursday, November 7th. Four 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.44.

Atlas Energy Solutions Stock Performance

Shares of AESI traded up $0.57 during mid-day trading on Tuesday, hitting $24.02. The stock had a trading volume of 1,234,633 shares, compared to its average volume of 961,297. The company has a quick ratio of 1.08, a current ratio of 1.23 and a debt-to-equity ratio of 0.42. The company’s fifty day simple moving average is $21.26 and its two-hundred day simple moving average is $21.05. Atlas Energy Solutions has a fifty-two week low of $15.55 and a fifty-two week high of $24.93. The company has a market cap of $2.65 billion, a PE ratio of 29.68, a PEG ratio of 11.92 and a beta of 0.95.

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 analysts’ consensus estimates of $0.29 by ($0.25). Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The firm had revenue of $304.40 million during the quarter, compared to the consensus estimate of $307.93 million. During the same period in the prior year, the firm posted $0.51 EPS. The firm’s quarterly revenue was up 93.1% on a year-over-year basis. On average, equities analysts expect that Atlas Energy Solutions will post 0.88 earnings per share for the current year.

Atlas Energy Solutions Increases Dividend

The company 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 is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.00%. Atlas Energy Solutions’s payout ratio is currently 121.52%.

Insider Buying and Selling at Atlas Energy Solutions

In other news, major shareholder Brian Anthony Leveille sold 30,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $24.02, for a total transaction of $720,600.00. Following the completion of the transaction, the insider now directly owns 432,010 shares in the company, valued at $10,376,880.20. This trade represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Stacy Hock sold 8,571 shares of Atlas Energy Solutions stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $21.12, for a total value of $181,019.52. Following the transaction, the insider now directly owns 926,175 shares in the company, valued at approximately $19,560,816. The trade was a 0.92 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have acquired 60,869 shares of company stock worth $1,187,983 and have sold 115,713 shares worth $2,517,431. Corporate insiders own 24.34% of the company’s stock.

Hedge Funds Weigh In On Atlas Energy Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Atlas Energy Solutions by 1.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,931 shares of the company’s stock valued at $979,000 after acquiring an additional 711 shares during the last quarter. Beck Capital Management LLC increased its position in shares of Atlas Energy Solutions by 0.6% in the second quarter. Beck Capital Management LLC now owns 130,588 shares of the company’s stock worth $2,603,000 after purchasing an additional 749 shares during the period. CWM LLC increased its holdings in shares of Atlas Energy Solutions by 47.1% during the third quarter. CWM LLC now owns 2,766 shares of the company’s stock worth $60,000 after buying an additional 886 shares in the last quarter. Cetera Investment Advisers lifted its holdings in Atlas Energy Solutions by 1.0% during the 2nd quarter. Cetera Investment Advisers now owns 88,654 shares of the company’s stock worth $1,767,000 after buying an additional 897 shares during the period. Finally, First Horizon Advisors Inc. lifted its stake in shares of Atlas Energy Solutions by 313.7% in the 2nd 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 period. 34.59% of the stock is currently owned by institutional investors and hedge funds.

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.