Denali Advisors LLC Takes Position in Atlas Energy Solutions Inc. (NYSE:AESI)

Denali Advisors LLC acquired a new stake in Atlas Energy Solutions Inc. (NYSE:AESI) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 107,835 shares of the company’s stock, valued at approximately $2,149,000. Denali Advisors LLC owned approximately 0.11% of Atlas Energy Solutions as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. First Horizon Advisors Inc. raised 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 acquiring an additional 1,308 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in Atlas Energy Solutions in the 1st quarter worth approximately $78,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Atlas Energy Solutions in the 2nd quarter worth approximately $74,000. nVerses Capital LLC bought a new position in Atlas Energy Solutions in the 2nd quarter worth approximately $106,000. Finally, Bessemer Group Inc. bought a new position in Atlas Energy Solutions in the 1st quarter worth approximately $154,000. 34.59% of the stock is owned by institutional investors.

Insider Activity

In other news, major shareholder Gregory M. Shepard purchased 60,393 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were acquired at an average price of $19.05 per share, with a total value of $1,150,486.65. Following the completion of the purchase, the insider now directly owns 7,383,018 shares of the company’s stock, valued at approximately $140,646,492.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Gregory M. Shepard bought 60,393 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were purchased at an average price of $19.05 per share, with a total value of $1,150,486.65. Following the completion of the purchase, the insider now owns 7,383,018 shares of the company’s stock, valued at approximately $140,646,492.90. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Gregory M. Shepard bought 40,872 shares of the business’s stock in a transaction on Wednesday, June 26th. The stock was bought at an average cost of $19.64 per share, for a total transaction of $802,726.08. Following the purchase, the insider now directly owns 7,445,069 shares of the company’s stock, valued at approximately $146,221,155.16. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 134,526 shares of company stock valued at $2,611,884 and have sold 34,287 shares valued at $679,825. 24.34% of the stock is currently owned by insiders.

Atlas Energy Solutions Trading Up 3.5 %

Shares of AESI opened at $21.37 on Tuesday. The company has a quick ratio of 1.35, a current ratio of 1.53 and a debt-to-equity ratio of 0.42. Atlas Energy Solutions Inc. has a 12-month low of $15.55 and a 12-month high of $24.93. The firm has a market capitalization of $2.14 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 5.92 and a beta of 0.56. The stock’s fifty day simple moving average is $20.42 and its 200-day simple moving average is $21.40.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly 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 for the quarter, compared to analyst estimates of $270.55 million. During the same period last year, the company earned $0.69 EPS. The company’s revenue was up 77.7% compared to the same quarter last year. As a group, research analysts predict that Atlas Energy Solutions Inc. will post 1.48 earnings per share for the current year.

Atlas Energy Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 4.31%. The ex-dividend date of this dividend 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 is 51.11%.

Analyst Upgrades and Downgrades

Several brokerages have commented on AESI. The Goldman Sachs Group dropped their price target on Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Piper Sandler lowered their price objective on Atlas Energy Solutions from $29.00 to $27.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Tudor, Pickering, Holt & Co. started coverage on Atlas Energy Solutions in a research report on Monday, June 24th. They set a “buy” rating on the stock. Bank of America lowered their price objective on Atlas Energy Solutions from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Finally, Benchmark reaffirmed a “buy” rating and issued a $27.00 price target on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. Eight equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Atlas Energy Solutions currently has a consensus rating of “Buy” and a consensus target price of $26.25.

Atlas Energy Solutions 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.