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

Proficio Capital Partners LLC purchased a new position in shares of Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 22,313 shares of the company's stock, valued at approximately $495,000.

Several other institutional investors have also made changes to their positions in AESI. Global Retirement Partners LLC lifted its position in Atlas Energy Solutions by 191.9% in the 4th quarter. Global Retirement Partners LLC now owns 1,941 shares of the company's stock worth $43,000 after buying an additional 1,276 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Atlas Energy Solutions in the third quarter worth $48,000. FMR LLC raised its holdings in shares of Atlas Energy Solutions by 101.0% during the third 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 Atlas Energy Solutions by 55.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,745 shares of the company's stock valued at $125,000 after purchasing an additional 2,043 shares during the last quarter. Finally, Mutual of America Capital Management LLC acquired a new stake in Atlas Energy Solutions during the fourth quarter valued at $204,000. 34.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Benchmark cut their price target on Atlas Energy Solutions from $28.00 to $25.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Bank of America reaffirmed a "neutral" rating and set a $22.50 target price on shares of Atlas Energy Solutions in a research report on Monday, January 13th. Piper Sandler assumed coverage on Atlas Energy Solutions in a research note on Wednesday, March 12th. They issued an "overweight" rating and a $22.00 price objective on the stock. Raymond James lowered shares of Atlas Energy Solutions from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 6th. Finally, Royal Bank of Canada reduced their price objective on Atlas Energy Solutions from $28.00 to $25.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Atlas Energy Solutions presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.83.

Remove Ads

Atlas Energy Solutions Price Performance

AESI stock traded down $0.31 during midday trading on Friday, reaching $17.77. 1,474,331 shares of the company's stock traded hands, compared to its average volume of 1,157,262. The company has a 50-day simple moving average of $20.48 and a two-hundred day simple moving average of $21.31. 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 1-year low of $16.98 and a 1-year high of $26.86. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 22.49 and a beta of 1.18.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last announced its earnings results 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). Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The business had revenue of $271.34 million during the quarter, compared to analyst estimates of $272.94 million. On average, analysts anticipate that Atlas Energy Solutions Inc. will post 0.83 earnings per share for the current year.

Atlas Energy Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 21st were paid a dividend of $0.25 per share. This is a boost from Atlas Energy Solutions's previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 5.63%. The ex-dividend date was Friday, February 21st. Atlas Energy Solutions's dividend payout ratio is 178.57%.

Insider Activity at Atlas Energy Solutions

In related news, major shareholder Brian Anthony Leveille sold 5,000 shares of the firm's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $23.00, for a total value of $115,000.00. Following the transaction, the insider now owns 404,510 shares in the company, valued at $9,303,730. This trade represents a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Gregory M. Shepard acquired 32,155 shares of the company's stock in a transaction on Thursday, February 27th. The shares were purchased at an average cost of $19.04 per share, with a total value of $612,231.20. Following the completion of the acquisition, the insider now directly owns 7,651,210 shares in the company, valued at approximately $145,679,038.40. The trade was a 0.42 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 50,000 shares of company stock valued at $1,164,750 over the last quarter. 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.