Raymond James & Associates boosted its stake in shares of Atlas Energy Solutions Inc. (NYSE:AESI – Free Report) by 165.3% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 60,123 shares of the company’s stock after acquiring an additional 37,460 shares during the period. Raymond James & Associates owned about 0.06% of Atlas Energy Solutions worth $1,044,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the stock. Ghisallo Capital Management LLC acquired a new position in Atlas Energy Solutions during the first quarter worth $3,236,000. Beck Capital Management LLC acquired a new stake in Atlas Energy Solutions during the first quarter worth about $425,000. Avondale Wealth Management purchased a new position in Atlas Energy Solutions during the second quarter worth about $52,000. Capstone Investment Advisors LLC acquired a new position in Atlas Energy Solutions in the 1st quarter valued at about $6,200,000. Finally, Monashee Investment Management LLC purchased a new stake in shares of Atlas Energy Solutions in the 1st quarter valued at approximately $3,406,000. Institutional investors and hedge funds own 17.86% of the company’s stock.
Analyst Ratings Changes
Several research firms have recently commented on AESI. Citigroup lifted their price target on shares of Atlas Energy Solutions from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, August 16th. Stephens reiterated an “overweight” rating and set a $23.00 price target on shares of Atlas Energy Solutions in a report on Tuesday, August 1st. Raymond James reduced their price objective on shares of Atlas Energy Solutions from $27.00 to $26.00 and set a “strong-buy” rating on the stock in a report on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $25.00 target price on shares of Atlas Energy Solutions in a research report on Wednesday, August 2nd. Finally, The Goldman Sachs Group lifted their price target on shares of Atlas Energy Solutions from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $24.90.
Atlas Energy Solutions Price Performance
Shares of NYSE AESI opened at $18.96 on Friday. The business’s fifty day simple moving average is $21.46 and its 200-day simple moving average is $19.42. The company has a current ratio of 3.22, a quick ratio of 3.10 and a debt-to-equity ratio of 1.32. Atlas Energy Solutions Inc. has a 12-month low of $15.06 and a 12-month high of $24.69.
Atlas Energy Solutions Increases Dividend
The company also recently announced a None dividend, which will be paid on Thursday, November 16th. Investors of record on Thursday, November 9th will be paid a dividend of $0.20 per share. This represents a dividend yield of 4%. This is a positive change from Atlas Energy Solutions’s previous None dividend of $0.15. The ex-dividend date is Wednesday, November 8th.
Insider Activity at Atlas Energy Solutions
In other Atlas Energy Solutions news, major shareholder Richard W. Schmidt sold 29,234 shares of the stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $20.20, for a total value of $590,526.80. Following the sale, the insider now directly owns 1,720,287 shares of the company’s stock, valued at approximately $34,749,797.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, major shareholder Richard W. Schmidt sold 29,234 shares of the company’s stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $20.20, for a total transaction of $590,526.80. Following the completion of the transaction, the insider now directly owns 1,720,287 shares of the company’s stock, valued at approximately $34,749,797.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Richard W. Schmidt sold 8,640 shares of the stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $20.75, for a total value of $179,280.00. Following the completion of the transaction, the insider now owns 1,658,306 shares in the company, valued at approximately $34,409,849.50. The disclosure for this sale can be found here. Insiders have sold a total of 54,582 shares of company stock valued at $1,110,984 over the last 90 days. 82.40% of the stock is owned by corporate insiders.
About Atlas Energy Solutions
Atlas Energy Solutions Inc provides proppant and logistics services to the oil and natural gas industry within the Permian Basin of West Texas and New Mexico. The company was founded in 2017 and is based in Austin, Texas.
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