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

Atlas Energy Solutions Inc. (NYSE:AESI) was the recipient of a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 6,120,000 shares, a growth of 18.4% from the March 15th total of 5,170,000 shares. Based on an average daily volume of 808,400 shares, the days-to-cover ratio is currently 7.6 days. Currently, 10.2% of the company’s stock are short sold.

Atlas Energy Solutions Price Performance

Shares of AESI stock opened at $22.07 on Tuesday. The company has a quick ratio of 3.21, a current ratio of 3.44 and a debt-to-equity ratio of 0.20. Atlas Energy Solutions has a twelve month low of $15.28 and a twelve month high of $24.69. The company has a market cap of $2.21 billion and a P/E ratio of 14.06. The business has a fifty day simple moving average of $20.61 and a 200 day simple moving average of $18.89.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.24). The business had revenue of $141.14 million for the quarter, compared to the consensus estimate of $147.34 million. Atlas Energy Solutions had a return on equity of 47.40% and a net margin of 17.17%. On average, sell-side analysts forecast that Atlas Energy Solutions will post 2.92 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 22nd were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.81%. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, February 21st. Atlas Energy Solutions’s dividend payout ratio (DPR) is presently 40.76%.

Analysts Set New Price Targets

A number of brokerages have commented on AESI. Barclays upped their price objective on Atlas Energy Solutions from $23.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Royal Bank of Canada upped their target price on Atlas Energy Solutions from $23.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday, February 28th. Finally, The Goldman Sachs Group initiated coverage on Atlas Energy Solutions in a research report on Thursday, March 14th. They set a “buy” rating and a $24.00 target price for the company. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $25.00.

Insiders Place Their Bets

In other Atlas Energy Solutions news, major shareholder Richard W. Schmidt sold 21,043 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $22.44, for a total transaction of $472,204.92. Following the transaction, the insider now owns 1,119,553 shares of the company’s stock, valued at approximately $25,122,769.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Jeffrey L. Allison sold 1,547 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $22.50, for a total transaction of $34,807.50. Following the transaction, the executive vice president now directly owns 132,518 shares of the company’s stock, valued at approximately $2,981,655. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Richard W. Schmidt sold 21,043 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $22.44, for a total value of $472,204.92. Following the transaction, the insider now directly owns 1,119,553 shares in the company, valued at $25,122,769.32. The disclosure for this sale can be found here. Insiders have sold 246,860 shares of company stock valued at $5,332,121 in the last 90 days. 24.34% of the stock is currently owned by insiders.

Institutional Trading of Atlas Energy Solutions

Hedge funds have recently made changes to their positions in the company. Royal Bank of Canada increased its holdings in Atlas Energy Solutions by 526.7% in the second quarter. Royal Bank of Canada now owns 2,206 shares of the company’s stock worth $37,000 after purchasing an additional 1,854 shares in the last quarter. Tucker Asset Management LLC acquired a new stake in Atlas Energy Solutions in the third quarter valued at approximately $49,000. Russell Investments Group Ltd. acquired a new stake in Atlas Energy Solutions in the second quarter valued at approximately $53,000. DekaBank Deutsche Girozentrale acquired a new stake in Atlas Energy Solutions in the third quarter valued at approximately $81,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in Atlas Energy Solutions in the second quarter valued at approximately $69,000. 34.59% of the stock is owned by institutional investors and hedge funds.

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.