Atlas Energy Solutions Inc. (NYSE:AESI) Short Interest Update

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 short sold. Based on an average daily volume of 1,150,000 shares, the days-to-cover ratio is presently 9.2 days.

Atlas Energy Solutions Price Performance

AESI stock traded down $0.13 during trading hours on Monday, hitting $23.44. 1,081,306 shares of the stock traded hands, compared to its average volume of 960,119. The company has a current ratio of 1.23, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42. The stock has a 50-day simple moving average of $21.25 and a 200 day simple moving average of $21.05. Atlas Energy Solutions has a one year low of $15.55 and a one year high of $24.93. The company has a market cap of $2.58 billion, a P/E ratio of 29.84, a P/E/G ratio of 11.92 and a beta of 0.69.

Atlas Energy Solutions (NYSE:AESI) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.25). The company had revenue of $304.40 million during the quarter, compared to the consensus estimate of $307.93 million. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. Atlas Energy Solutions’s quarterly revenue was up 93.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.51 EPS. Equities analysts forecast that Atlas Energy Solutions will post 0.88 earnings per share for the current year.

Atlas Energy Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were given a $0.24 dividend. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.23. The ex-dividend date was Thursday, November 7th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.10%. Atlas Energy Solutions’s dividend payout ratio (DPR) is 121.52%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Benchmark reaffirmed a “buy” rating and set a $27.00 price target on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. Pickering Energy Partners lowered Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group lowered shares of Atlas Energy Solutions from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $23.00 to $21.00 in a research note on Thursday, November 7th. Barclays lowered shares of Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $23.00 to $19.00 in a report on Tuesday, November 12th. Finally, Citigroup lowered Atlas Energy Solutions from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $23.00 to $22.00 in a research report on Thursday, November 14th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.44.

Insider Transactions at Atlas Energy Solutions

In related news, major shareholder Brian Anthony Leveille sold 30,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $24.02, for a total transaction of $720,600.00. Following the completion of the sale, the insider now directly owns 432,010 shares of the company’s stock, valued at approximately $10,376,880.20. This represents a 6.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Stacy Hock sold 8,571 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $21.49, for a total value of $184,190.79. Following the completion of the transaction, the insider now directly owns 934,746 shares in the company, valued at $20,087,691.54. This trade represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have bought 60,869 shares of company stock worth $1,187,983 and have sold 115,713 shares worth $2,517,431. Company insiders own 24.34% of the company’s stock.

Hedge Funds Weigh In On Atlas Energy Solutions

A number of institutional investors have recently bought and sold shares of the stock. Cooke & Bieler LP grew its position in Atlas Energy Solutions by 775.7% during the second quarter. Cooke & Bieler LP now owns 1,699,013 shares of the company’s stock valued at $33,861,000 after purchasing an additional 1,504,988 shares in the last quarter. Wellington Management Group LLP bought a new position in Atlas Energy Solutions during the third quarter valued at approximately $17,314,000. Meridian Wealth Advisors LLC grew its position in Atlas Energy Solutions by 25.8% in the second quarter. Meridian Wealth Advisors LLC now owns 2,677,490 shares of the company’s stock worth $53,362,000 after acquiring an additional 548,620 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Atlas Energy Solutions during the 2nd quarter valued at $8,898,000. Finally, First Sabrepoint Capital Management LP bought a new position in shares of Atlas Energy Solutions during the 3rd quarter valued at $8,066,000. Hedge funds and other institutional investors own 34.59% of the company’s stock.

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.