Miller Howard Investments Inc. NY Cuts Stock Position in Atlas Energy Solutions Inc. (NYSE:AESI)

Miller Howard Investments Inc. NY lessened its holdings in shares of Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 77.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,693 shares of the company's stock after selling 124,853 shares during the period. Miller Howard Investments Inc. NY's holdings in Atlas Energy Solutions were worth $792,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AESI. Wellington Management Group LLP acquired a new stake in Atlas Energy Solutions during the 3rd quarter worth about $17,314,000. First Sabrepoint Capital Management LP purchased a new position in shares of Atlas Energy Solutions in the third quarter worth about $8,066,000. Copeland Capital Management LLC lifted its holdings in shares of Atlas Energy Solutions by 19.3% during the fourth quarter. Copeland Capital Management LLC now owns 2,247,774 shares of the company's stock worth $49,856,000 after purchasing an additional 363,742 shares during the period. State Street Corp boosted its position in Atlas Energy Solutions by 15.0% in the third quarter. State Street Corp now owns 1,751,059 shares of the company's stock valued at $38,173,000 after buying an additional 227,776 shares during the last quarter. Finally, Barclays PLC raised its position in Atlas Energy Solutions by 574.5% during the 3rd quarter. Barclays PLC now owns 175,082 shares of the company's stock worth $3,817,000 after buying an additional 149,126 shares during the last quarter. 34.59% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, major shareholder Brian Anthony Leveille sold 10,000 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $20.70, for a total value of $207,000.00. Following the completion of the transaction, the insider now directly owns 482,010 shares of the company's stock, valued at approximately $9,977,607. This represents a 2.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Stacy Hock sold 8,571 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $22.55, for a total transaction of $193,276.05. Following the completion of the sale, the insider now owns 917,604 shares of the company's stock, valued at $20,691,970.20. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 134,642 shares of company stock worth $3,096,871. Company insiders own 24.34% of the company's stock.

Atlas Energy Solutions Price Performance

Shares of AESI stock traded up $0.01 during trading hours on Tuesday, hitting $21.85. 341,600 shares of the company's stock were exchanged, compared to its average volume of 1,619,636. Atlas Energy Solutions Inc. has a fifty-two week low of $17.19 and a fifty-two week high of $26.86. The firm has a market cap of $2.41 billion, a P/E ratio of 27.66, a P/E/G ratio of 6.39 and a beta of 1.03. The company has a quick ratio of 1.08, a current ratio of 1.23 and a debt-to-equity ratio of 0.42. The firm has a 50 day moving average of $22.83 and a two-hundred day moving average of $21.59.

Analyst Upgrades and Downgrades

Several analysts have recently commented on AESI shares. Pickering Energy Partners downgraded shares of Atlas Energy Solutions from an "outperform" rating to a "neutral" rating in a report on Wednesday, October 30th. Raymond James downgraded Atlas Energy Solutions from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 6th. Barclays boosted their price objective on Atlas Energy Solutions from $19.00 to $23.00 and gave the company an "equal weight" rating in a report on Thursday, January 30th. The Goldman Sachs Group assumed coverage on Atlas Energy Solutions in a report on Friday, December 13th. They set a "neutral" rating and a $23.00 target price on the stock. Finally, Royal Bank of Canada boosted their price target on Atlas Energy Solutions from $27.00 to $28.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. Six investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $25.50.

Atlas Energy Solutions 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.