Atlas Energy Solutions Inc. (NYSE:AESI) Sees Large Increase in Short Interest

Atlas Energy Solutions Inc. (NYSE:AESI - Get Free Report) saw a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 13,820,000 shares, a growth of 9.2% from the November 30th total of 12,650,000 shares. Based on an average daily volume of 1,210,000 shares, the short-interest ratio is presently 11.4 days. Approximately 21.2% of the shares of the stock are sold short.

Analyst Ratings Changes

AESI has been the subject of a number of research reports. The Goldman Sachs Group started coverage on Atlas Energy Solutions in a research report on Friday, December 13th. They set a "neutral" rating and a $23.00 price objective for the company. Citigroup downgraded shares of Atlas Energy Solutions from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $23.00 to $22.00 in a research report on Thursday, November 14th. Pickering Energy Partners downgraded shares of Atlas Energy Solutions from an "outperform" rating to a "neutral" rating in a research report on Wednesday, October 30th. Royal Bank of Canada restated an "outperform" rating and set a $25.00 price target on shares of Atlas Energy Solutions in a report on Wednesday, October 30th. Finally, Barclays lowered Atlas Energy Solutions from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $23.00 to $19.00 in a report on Tuesday, November 12th. Four analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $24.67.

Insider Transactions at Atlas Energy Solutions

In other news, major shareholder Gregory M. Shepard bought 1,797 shares of the business's stock in a transaction on Friday, October 18th. The shares were bought at an average cost of $19.65 per share, with a total value of $35,311.05. Following the purchase, the insider now directly owns 7,507,194 shares in the company, valued at $147,516,362.10. This trade represents a 0.02 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Brian Anthony Leveille sold 10,000 shares of the firm's stock in a transaction on Monday, October 14th. The stock was sold at an average price of $20.50, for a total value of $205,000.00. Following the completion of the sale, the insider now directly owns 542,010 shares of the company's stock, valued at approximately $11,111,205. This trade represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 60,869 shares of company stock valued at $1,187,983 and have sold 133,213 shares valued at $2,959,311. Corporate insiders own 24.34% of the company's stock.

Institutional Investors Weigh In On Atlas Energy Solutions

A number of hedge funds have recently bought and sold shares of AESI. Amalgamated Bank grew its stake in shares of Atlas Energy Solutions by 328.1% in the second quarter. Amalgamated Bank now owns 2,350 shares of the company's stock worth $47,000 after acquiring an additional 1,801 shares during the last quarter. Quest Partners LLC acquired a new stake in Atlas Energy Solutions in the 3rd quarter worth $48,000. FMR LLC increased 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 purchasing an additional 1,355 shares during the period. CWM LLC raised its position in shares of Atlas Energy Solutions by 47.1% during the third quarter. CWM LLC now owns 2,766 shares of the company's stock valued at $60,000 after buying an additional 886 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Atlas Energy Solutions in the second quarter valued at about $74,000. 34.59% of the stock is currently owned by institutional investors.

Atlas Energy Solutions Stock Down 0.6 %

Shares of AESI traded down $0.14 during trading hours on Tuesday, hitting $22.18. 915,617 shares of the company were exchanged, compared to its average volume of 957,666. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.23. The company has a market cap of $2.44 billion, a PE ratio of 28.08, a PEG ratio of 11.53 and a beta of 0.96. The firm's 50 day moving average is $21.75 and its 200-day moving average is $21.02. Atlas Energy Solutions has a 52 week low of $15.55 and a 52 week high of $24.93.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last announced its earnings results on Monday, October 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.29 by ($0.25). Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The company had revenue of $304.40 million for the quarter, compared to the consensus estimate of $307.93 million. During the same period in the previous year, the company earned $0.51 EPS. The firm's revenue for the quarter was up 93.1% compared to the same quarter last year. On average, equities research analysts forecast that Atlas Energy Solutions will post 0.88 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.33%. The ex-dividend date of this dividend was Thursday, November 7th. This is an increase from Atlas Energy Solutions's previous quarterly dividend of $0.23. Atlas Energy Solutions's dividend payout ratio (DPR) is 121.52%.

About Atlas Energy Solutions

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.