Pekin Hardy Strauss Inc. Reduces Stock Holdings in Atlas Energy Solutions Inc. (NYSE:AESI)

Pekin Hardy Strauss Inc. cut its position in shares of Atlas Energy Solutions Inc. (NYSE:AESI) by 2.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,500 shares of the company’s stock after selling 600 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Atlas Energy Solutions were worth $534,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Beck Capital Management LLC increased its holdings in shares of Atlas Energy Solutions by 0.6% during the 2nd quarter. Beck Capital Management LLC now owns 130,588 shares of the company’s stock worth $2,603,000 after buying an additional 749 shares during the last quarter. CWM LLC increased its stake in Atlas Energy Solutions by 47.1% during the third quarter. CWM LLC now owns 2,766 shares of the company’s stock worth $60,000 after acquiring an additional 886 shares during the last quarter. Cetera Investment Advisers raised its position in Atlas Energy Solutions by 1.0% in the second quarter. Cetera Investment Advisers now owns 88,654 shares of the company’s stock valued at $1,767,000 after purchasing an additional 897 shares during the period. First Horizon Advisors Inc. lifted its stake in shares of Atlas Energy Solutions by 313.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,725 shares of the company’s stock valued at $34,000 after purchasing an additional 1,308 shares during the last quarter. Finally, Amalgamated Bank grew its holdings 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 purchasing an additional 1,801 shares during the period. 34.59% of the stock is owned by hedge funds and other institutional investors.

Atlas Energy Solutions Stock Up 9.7 %

Shares of NYSE AESI opened at $23.59 on Monday. The stock has a market cap of $2.60 billion, a P/E ratio of 29.86, a PEG ratio of 11.90 and a beta of 0.69. The business’s fifty day simple moving average is $21.09 and its 200-day simple moving average is $21.03. Atlas Energy Solutions Inc. has a 12-month low of $15.55 and a 12-month high of $24.93. The company has a current ratio of 1.23, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42.

Atlas Energy Solutions (NYSE:AESI) last posted its quarterly 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 net margin of 8.78% and a return on equity of 11.01%. The company had revenue of $304.40 million during the quarter, compared to analyst estimates of $307.93 million. During the same period in the prior year, the business earned $0.51 EPS. Atlas Energy Solutions’s revenue for the quarter was up 93.1% on a year-over-year basis. As a group, equities analysts predict that Atlas Energy Solutions Inc. will post 0.8 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were paid a $0.24 dividend. The ex-dividend date was Thursday, November 7th. This represents a $0.96 dividend on an annualized basis and a yield of 4.07%. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.23. Atlas Energy Solutions’s payout ratio is currently 121.52%.

Insiders Place Their Bets

In other Atlas Energy Solutions news, major shareholder Gregory M. Shepard bought 13,363 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were acquired at an average price of $19.19 per share, with a total value of $256,435.97. Following the transaction, the insider now owns 7,619,055 shares of the company’s stock, valued at approximately $146,209,665.45. The trade was a 0.18 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Brian Anthony Leveille sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $20.70, for a total value of $207,000.00. Following the sale, the insider now owns 482,010 shares of the company’s stock, valued at approximately $9,977,607. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders bought 60,869 shares of company stock worth $1,187,983 and sold 75,713 shares worth $1,581,831. 24.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on AESI shares. The Goldman Sachs Group lowered shares of Atlas Energy Solutions from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $23.00 to $21.00 in a report on Thursday, November 7th. Stephens restated an “overweight” rating and issued a $28.00 price objective on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Citigroup cut shares of Atlas Energy Solutions from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $23.00 to $22.00 in a research report on Thursday, November 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $25.00 target price on shares of Atlas Energy Solutions in a research report on Wednesday, October 30th. Finally, Pickering Energy Partners lowered Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Atlas Energy Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $24.44.

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.