Bryce Point Capital LLC Takes Position in Atlas Energy Solutions Inc. (NYSE:AESI)

Bryce Point Capital LLC bought a new stake in shares of Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 70,960 shares of the company's stock, valued at approximately $1,574,000. Bryce Point Capital LLC owned approximately 0.06% of Atlas Energy Solutions at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Atlas Energy Solutions by 12.6% in the 4th quarter. Vanguard Group Inc. now owns 6,915,325 shares of the company's stock worth $153,382,000 after acquiring an additional 773,035 shares during the last quarter. Copeland Capital Management LLC increased its holdings in Atlas Energy Solutions by 19.3% in the 4th quarter. Copeland Capital Management LLC now owns 2,247,774 shares of the company's stock worth $49,856,000 after buying an additional 363,742 shares during the period. State Street Corp raised its position in Atlas Energy Solutions by 15.0% during the 3rd quarter. State Street Corp now owns 1,751,059 shares of the company's stock worth $38,173,000 after buying an additional 227,776 shares during the last quarter. Geode Capital Management LLC lifted its stake in Atlas Energy Solutions by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,448,340 shares of the company's stock valued at $31,579,000 after acquiring an additional 54,321 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Atlas Energy Solutions by 7.7% during the 4th quarter. Wellington Management Group LLP now owns 855,405 shares of the company's stock valued at $18,973,000 after acquiring an additional 61,185 shares during the period. Institutional investors and hedge funds own 34.59% of the company's stock.

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Insider Activity

In other news, major shareholder Brian Anthony Leveille sold 12,500 shares of the firm's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $24.46, for a total value of $305,750.00. Following the transaction, the insider now directly owns 362,010 shares of the company's stock, valued at approximately $8,854,764.60. This trade represents a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Stacy Hock sold 10,000 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $22.50, for a total transaction of $225,000.00. Following the sale, the insider now directly owns 897,604 shares of the company's stock, valued at approximately $20,196,090. This represents a 1.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,000 shares of company stock worth $1,049,750 over the last quarter. 24.34% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AESI shares. Royal Bank of Canada reissued an "outperform" rating and set a $25.00 target price on shares of Atlas Energy Solutions in a report on Wednesday, April 2nd. Stephens upped their target price on Atlas Energy Solutions from $28.00 to $29.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 28th. 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. Piper Sandler started coverage on Atlas Energy Solutions in a research report on Wednesday, March 12th. They issued an "overweight" rating and a $22.00 price objective on the stock. Finally, Benchmark dropped their price objective on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Six equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $23.83.

Atlas Energy Solutions Price Performance

Shares of AESI stock traded down $0.26 during trading hours on Monday, hitting $13.55. 1,297,112 shares of the company's stock were exchanged, compared to its average volume of 1,664,057. The firm has a 50 day moving average of $19.76 and a two-hundred day moving average of $21.18. Atlas Energy Solutions Inc. has a fifty-two week low of $12.78 and a fifty-two week high of $26.86. The firm has a market cap of $1.65 billion, a P/E ratio of 17.16 and a beta of 1.20. The company has a quick ratio of 1.08, a current ratio of 1.23 and a debt-to-equity ratio of 0.42.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last posted its quarterly earnings data on Monday, February 24th. The company reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.12). The company had revenue of $271.34 million for the quarter, compared to analyst estimates of $272.94 million. Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. Sell-side analysts forecast that Atlas Energy Solutions Inc. will post 0.83 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 21st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.38%. This is a boost from Atlas Energy Solutions's previous quarterly dividend of $0.24. Atlas Energy Solutions's dividend payout ratio is presently 178.57%.

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.