Atlas Energy Solutions (NYSE:AESI) Shares Gap Down After Earnings Miss

Atlas Energy Solutions Inc. (NYSE:AESI) shares gapped down before the market opened on Monday following a dissappointing earnings announcement. The stock had previously closed at $21.97, but opened at $20.53. Atlas Energy Solutions shares last traded at $23.61, with a volume of 390,583 shares traded.

The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.12). The business had revenue of $192.67 million during the quarter, compared to analysts’ expectations of $196.39 million. Atlas Energy Solutions had a return on equity of 47.40% and a net margin of 17.17%. The firm’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.03 EPS.

Atlas Energy Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 16th will be issued a $0.22 dividend. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $0.88 dividend on an annualized basis and a yield of 3.92%. Atlas Energy Solutions’s payout ratio is presently 40.76%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AESI. Royal Bank of Canada increased their target price on Atlas Energy Solutions from $23.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 28th. Barclays upped their price objective on shares of Atlas Energy Solutions from $23.00 to $26.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. The Goldman Sachs Group initiated coverage on shares of Atlas Energy Solutions in a research report on Thursday, March 14th. They set a “buy” rating and a $24.00 price target for the company. Finally, Raymond James increased their price target on shares of Atlas Energy Solutions from $26.00 to $27.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, April 16th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Atlas Energy Solutions presently has an average rating of “Buy” and an average price target of $25.17.

Insider Activity

In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 50,000 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $19.97, for a total value of $998,500.00. Following the completion of the transaction, the insider now directly owns 970,738 shares in the company, valued at $19,385,637.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Atlas Energy Solutions news, major shareholder Richard W. Schmidt sold 166,710 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $21.94, for a total value of $3,657,617.40. Following the sale, the insider now owns 1,140,596 shares in the company, valued at approximately $25,024,676.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Stacy Hock sold 50,000 shares of Atlas Energy Solutions stock in a transaction on Friday, March 8th. The shares were sold at an average price of $19.97, for a total value of $998,500.00. Following the sale, the insider now directly owns 970,738 shares of the company’s stock, valued at $19,385,637.86. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 246,860 shares of company stock valued at $5,332,121. 24.34% of the stock is owned by company insiders.

Institutional Trading of Atlas Energy Solutions

A number of institutional investors and hedge funds have recently bought and sold shares of AESI. Venturi Wealth Management LLC acquired a new position in Atlas Energy Solutions during the 4th quarter worth approximately $27,963,000. Villere ST Denis J & Co. LLC grew its position in Atlas Energy Solutions by 258.0% during the fourth quarter. Villere ST Denis J & Co. LLC now owns 1,813,539 shares of the company’s stock valued at $31,229,000 after purchasing an additional 1,306,900 shares in the last quarter. Meridian Wealth Advisors LLC acquired a new stake in Atlas Energy Solutions in the fourth quarter valued at approximately $21,795,000. Schwab Charitable Fund acquired a new position in Atlas Energy Solutions during the fourth quarter valued at approximately $17,922,000. Finally, HITE Hedge Asset Management LLC increased its holdings in shares of Atlas Energy Solutions by 211.4% during the 4th quarter. HITE Hedge Asset Management LLC now owns 1,139,426 shares of the company’s stock worth $19,621,000 after purchasing an additional 773,561 shares during the period. 34.59% of the stock is currently owned by hedge funds and other institutional investors.

Atlas Energy Solutions Stock Down 0.2 %

The business has a fifty day simple moving average of $22.04 and a two-hundred day simple moving average of $19.07. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of 14.38, a P/E/G ratio of 0.54 and a beta of 0.66. 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 Company 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.