Atlas Energy Solutions (NYSE:AESI) Hits New 52-Week High – Time to Buy?

Atlas Energy Solutions Inc. (NYSE:AESI)’s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $25.18 and last traded at $24.93, with a volume of 142341 shares. The stock had previously closed at $24.63.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Pickering Energy Partners lowered Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 30th. Bank of America reaffirmed a “neutral” rating and set a $22.50 price target on shares of Atlas Energy Solutions in a research report on Monday. Barclays downgraded Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $23.00 to $19.00 in a research report on Tuesday, November 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $25.00 price target on shares of Atlas Energy Solutions in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group initiated coverage on Atlas Energy Solutions in a research report on Friday, December 13th. They set a “neutral” rating and a $23.00 price target for the company. Six equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Atlas Energy Solutions presently has an average rating of “Moderate Buy” and a consensus price target of $24.50.

Atlas Energy Solutions Stock Up 2.7 %

The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.08. The company has a 50 day moving average of $22.37 and a 200-day moving average of $21.25. The company has a market cap of $2.79 billion, a P/E ratio of 32.01, a price-to-earnings-growth ratio of 5.55 and a beta of 1.03.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $304.40 million for the quarter, compared to analysts’ expectations of $307.93 million. During the same quarter in the prior year, the firm earned $0.51 EPS. The firm’s revenue for the quarter was up 93.1% on a year-over-year basis. On average, equities analysts predict that Atlas Energy Solutions Inc. will post 0.87 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. Stockholders of record on Thursday, November 7th were given a $0.24 dividend. 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 3.79%. The ex-dividend date of this dividend was Thursday, November 7th. Atlas Energy Solutions’s payout ratio is currently 121.52%.

Insider Transactions at Atlas Energy Solutions

In related news, major shareholder Stacy Hock sold 8,571 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $22.55, for a total value of $193,276.05. Following the transaction, the insider now directly owns 917,604 shares of the company’s stock, valued at approximately $20,691,970.20. This represents a 0.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Brian Anthony Leveille sold 10,000 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $21.02, for a total value of $210,200.00. Following the transaction, the insider now directly owns 532,010 shares in the company, valued at $11,182,850.20. The trade was a 1.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 59,072 shares of company stock valued at $1,152,672 and have sold 137,142 shares valued at $3,084,721. Insiders own 24.34% of the company’s stock.

Hedge Funds Weigh In On Atlas Energy Solutions

Hedge funds and other institutional investors have recently modified their holdings of the company. Amalgamated Bank increased its stake in shares of 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 purchasing an additional 1,801 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Atlas Energy Solutions in the 3rd quarter worth $48,000. FMR LLC increased its stake 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 worth $59,000 after purchasing an additional 1,355 shares in the last quarter. CWM LLC increased its stake in shares of Atlas Energy Solutions by 47.1% in the 3rd quarter. CWM LLC now owns 2,766 shares of the company’s stock worth $60,000 after purchasing an additional 886 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its stake in shares of Atlas Energy Solutions by 54.1% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 5,297 shares of the company’s stock worth $107,000 after purchasing an additional 1,860 shares in the last quarter. 34.59% of the stock is owned by 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.