JPMorgan Chase & Co. Purchases 148,655 Shares of Atlas Energy Solutions Inc. (NYSE:AESI)

JPMorgan Chase & Co. boosted its stake in shares of Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 324.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 194,494 shares of the company's stock after purchasing an additional 148,655 shares during the quarter. JPMorgan Chase & Co. owned about 0.18% of Atlas Energy Solutions worth $4,240,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its holdings in Atlas Energy Solutions by 230.1% during the second quarter. Rhumbline Advisers now owns 84,612 shares of the company's stock valued at $1,686,000 after acquiring an additional 58,981 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in Atlas Energy Solutions by 54.1% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 5,297 shares of the company's stock valued at $107,000 after purchasing an additional 1,860 shares during the period. Envestnet Asset Management Inc. grew its holdings in Atlas Energy Solutions by 127.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 249,826 shares of the company's stock valued at $4,979,000 after buying an additional 140,110 shares during the last quarter. Dimensional Fund Advisors LP acquired a new stake in Atlas Energy Solutions in the 2nd quarter valued at approximately $280,000. Finally, Amalgamated Bank increased its position in 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 buying an additional 1,801 shares during the period. Institutional investors and hedge funds own 34.59% of the company's stock.

Atlas Energy Solutions Price Performance

NYSE:AESI traded down $0.43 on Friday, hitting $24.20. The company had a trading volume of 2,093,162 shares, compared to its average volume of 678,531. Atlas Energy Solutions Inc. has a 52 week low of $16.15 and a 52 week high of $25.38. 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 market capitalization of $2.67 billion, a price-to-earnings ratio of 30.64, a PEG ratio of 5.55 and a beta of 1.03. The firm has a 50 day moving average of $22.44 and a two-hundred day moving average of $21.27.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last released its quarterly 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). The firm had revenue of $304.40 million for the quarter, compared to the consensus estimate of $307.93 million. Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The business's revenue for the quarter was up 93.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.51 earnings per share. On average, research analysts anticipate 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 disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were paid a $0.24 dividend. This is a positive change 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 3.97%. The ex-dividend date of this dividend was Thursday, November 7th. Atlas Energy Solutions's payout ratio is currently 121.52%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AESI shares. Raymond James downgraded shares of Atlas Energy Solutions from a "strong-buy" rating to a "hold" rating in a report on Monday, January 6th. Citigroup lowered Atlas Energy Solutions from a "buy" rating to a "neutral" rating and lowered their price target for the company from $23.00 to $22.00 in a research note on Thursday, November 14th. The Goldman Sachs Group began coverage on Atlas Energy Solutions in a research report on Friday, December 13th. They issued a "neutral" rating and a $23.00 price objective for the company. Bank of America restated a "neutral" rating and set a $22.50 price objective on shares of Atlas Energy Solutions in a research report on Monday, January 13th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $25.00 target price on shares of Atlas Energy Solutions in a research note on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $24.50.

Insider Transactions at Atlas Energy Solutions

In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 8,571 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $21.12, for a total value of $181,019.52. Following the transaction, the insider now owns 926,175 shares in the company, valued at approximately $19,560,816. This represents a 0.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Gregory M. Shepard acquired 8,062 shares of the firm's stock in a transaction dated Monday, October 21st. The shares were purchased at an average price of $19.84 per share, with a total value of $159,950.08. Following the acquisition, the insider now owns 7,515,256 shares of the company's stock, valued at approximately $149,102,679.04. This represents a 0.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 59,072 shares of company stock worth $1,152,672 and have sold 137,142 shares worth $3,084,721. Corporate insiders own 24.34% of the company's stock.

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.