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

Atlas Energy Solutions Inc. (NYSE:AESI) was the recipient of a large increase in short interest during 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. Based on an average daily volume of 1,150,000 shares, the days-to-cover ratio is currently 9.2 days. Currently, 16.3% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Barclays downgraded shares of Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $23.00 to $19.00 in a report on Tuesday, November 12th. Stephens reiterated an “overweight” rating and set a $28.00 target price on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $25.00 price target on shares of Atlas Energy Solutions in a report on Wednesday, October 30th. Pickering Energy Partners lowered shares of Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group cut 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 report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $24.44.

Insider Buying and Selling

In related news, major shareholder Brian Anthony Leveille sold 10,000 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $20.50, for a total value of $205,000.00. Following the transaction, the insider now owns 542,010 shares in the company, valued at $11,111,205. The trade was a 1.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Stacy Hock sold 8,571 shares of the stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $21.49, for a total value of $184,190.79. Following the sale, the insider now directly owns 934,746 shares of the company’s stock, valued at $20,087,691.54. The trade was a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 60,869 shares of company stock worth $1,187,983 and sold 115,713 shares worth $2,517,431. 24.34% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AESI. First Horizon Advisors Inc. lifted its holdings in shares of Atlas Energy Solutions by 313.7% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,725 shares of the company’s stock worth $34,000 after acquiring an additional 1,308 shares during the period. Amalgamated Bank increased its position in Atlas Energy Solutions by 328.1% during the second quarter. Amalgamated Bank now owns 2,350 shares of the company’s stock worth $47,000 after purchasing an additional 1,801 shares during the last quarter. Quest Partners LLC purchased a new position in Atlas Energy Solutions during the third quarter worth approximately $48,000. FMR LLC boosted its holdings in shares of Atlas Energy Solutions by 101.0% in the 3rd quarter. FMR LLC now owns 2,696 shares of the company’s stock valued at $59,000 after purchasing an additional 1,355 shares during the last quarter. Finally, CWM LLC grew its stake in shares of Atlas Energy Solutions by 47.1% during the 3rd quarter. CWM LLC now owns 2,766 shares of the company’s stock valued at $60,000 after buying an additional 886 shares during the period. 34.59% of the stock is currently owned by institutional investors and hedge funds.

Atlas Energy Solutions Price Performance

Shares of NYSE AESI traded down $0.13 during trading on Monday, reaching $23.44. The company had a trading volume of 1,081,306 shares, 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. Atlas Energy Solutions has a twelve month low of $15.55 and a twelve month high of $24.93. The stock has a 50-day moving average price of $21.25 and a two-hundred day moving average price of $21.05. The stock has a market capitalization of $2.58 billion, a PE ratio of 29.84, a price-to-earnings-growth ratio of 11.92 and a beta of 0.69.

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

Atlas Energy Solutions Increases Dividend

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

Atlas Energy Solutions Company 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.