Short Interest in Atlas Energy Solutions Inc. (NYSE:AESI) Expands By 9.2%

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

Atlas Energy Solutions Stock Performance

Shares of Atlas Energy Solutions stock opened at $22.18 on Thursday. The stock’s fifty day moving average is $21.80 and its two-hundred day moving average is $21.02. The company has a market capitalization of $2.44 billion, a PE ratio of 28.08, a price-to-earnings-growth ratio of 11.53 and a beta of 0.96. 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 has a 52 week low of $15.55 and a 52 week high of $24.93.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.25). The business had revenue of $304.40 million during the quarter, compared to the consensus estimate of $307.93 million. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The business’s revenue was up 93.1% compared to the same quarter last year. During the same period last year, the company earned $0.51 EPS. As a group, analysts expect that Atlas Energy Solutions will post 0.88 earnings per share for the current year.

Atlas Energy Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were given a dividend of $0.24 per share. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.23. The ex-dividend date was Thursday, November 7th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.33%. Atlas Energy Solutions’s dividend payout ratio is presently 121.52%.

Insider Buying and Selling at Atlas Energy Solutions

In related news, major shareholder Gregory M. Shepard acquired 1,797 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was bought at an average cost of $19.65 per share, for a total transaction of $35,311.05. Following the purchase, the insider now owns 7,507,194 shares in the company, valued at $147,516,362.10. The trade was a 0.02 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Stacy Hock sold 8,571 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $21.12, for a total value of $181,019.52. Following the transaction, the insider now owns 926,175 shares of the company’s stock, valued at approximately $19,560,816. This trade represents a 0.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders bought 60,869 shares of company stock worth $1,187,983 and sold 124,642 shares worth $2,775,121. Corporate insiders own 24.34% of the company’s stock.

Hedge Funds Weigh In On Atlas Energy Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quest Partners LLC bought a new position in shares of Atlas Energy Solutions during the 3rd quarter worth $48,000. Amalgamated Bank grew its position in shares of Atlas Energy Solutions by 328.1% during the 2nd quarter. Amalgamated Bank now owns 2,350 shares of the company’s stock worth $47,000 after buying an additional 1,801 shares in the last quarter. FMR LLC grew its position 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 buying an additional 1,355 shares in the last quarter. CWM LLC lifted its stake in shares of Atlas Energy Solutions by 47.1% during the 3rd quarter. CWM LLC now owns 2,766 shares of the company’s stock worth $60,000 after purchasing an additional 886 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Atlas Energy Solutions during the 2nd quarter worth $74,000. Institutional investors own 34.59% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.