Proficio Capital Partners LLC Invests $495,000 in Atlas Energy Solutions Inc. (NYSE:AESI)

Proficio Capital Partners LLC purchased a new position in Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 22,313 shares of the company's stock, valued at approximately $495,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Global Retirement Partners LLC increased its holdings in shares of Atlas Energy Solutions by 191.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,941 shares of the company's stock worth $43,000 after purchasing an additional 1,276 shares during the last quarter. Quest Partners LLC bought a new stake in Atlas Energy Solutions in the 3rd quarter worth approximately $48,000. FMR LLC raised its holdings in shares of Atlas Energy Solutions by 101.0% during the 3rd quarter. FMR LLC now owns 2,696 shares of the company's stock worth $59,000 after acquiring an additional 1,355 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Atlas Energy Solutions by 55.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,745 shares of the company's stock valued at $125,000 after acquiring an additional 2,043 shares during the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of Atlas Energy Solutions in the third quarter valued at $253,000. 34.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AESI. Barclays decreased their price target on shares of Atlas Energy Solutions from $23.00 to $19.00 and set an "equal weight" rating on the stock in a research note on Monday, March 3rd. Benchmark reduced their target price on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Royal Bank of Canada lowered their price target on shares of Atlas Energy Solutions from $28.00 to $25.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. Citigroup cut Atlas Energy Solutions from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $23.00 to $22.00 in a research note on Thursday, November 14th. Finally, Bank of America reaffirmed a "neutral" rating and issued a $22.50 price objective on shares of Atlas Energy Solutions in a research note on Monday, January 13th. Six 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $24.39.

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Atlas Energy Solutions Trading Down 1.3 %

AESI traded down $0.23 during trading hours on Tuesday, reaching $17.40. 589,207 shares of the company's stock traded hands, compared to its average volume of 1,593,060. The firm has a 50-day moving average price of $21.89 and a 200 day moving average price of $21.60. The firm has a market capitalization of $2.12 billion, a PE ratio of 22.02 and a beta of 1.18. 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 Inc. has a 52-week low of $16.98 and a 52-week high of $26.86.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last issued its earnings results on Monday, February 24th. The company reported $0.06 earnings per share (EPS) 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 analysts' expectations of $272.94 million. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. As a group, sell-side analysts predict that Atlas Energy Solutions Inc. will post 0.83 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 21st were given a dividend of $0.25 per share. The ex-dividend date was Friday, February 21st. This is a positive change from Atlas Energy Solutions's previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.75%. Atlas Energy Solutions's dividend payout ratio (DPR) is 178.57%.

Insider Activity

In other news, major shareholder Stacy Hock sold 8,571 shares of the firm's stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $22.55, for a total transaction of $193,276.05. Following the transaction, the insider now owns 917,604 shares in the company, valued at approximately $20,691,970.20. This trade represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Brian Anthony Leveille sold 5,000 shares of the company's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $23.00, for a total transaction of $115,000.00. Following the completion of the sale, the insider now directly owns 404,510 shares of the company's stock, valued at approximately $9,303,730. This trade represents a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 63,571 shares of company stock valued at $1,473,876. Corporate insiders own 24.34% of the company's stock.

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.