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

Atlas Energy Solutions Inc. (NYSE:AESI)’s stock price gapped down prior to trading on Monday after the company announced weaker than expected quarterly earnings. 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.12). Atlas Energy Solutions had a return on equity of 47.40% and a net margin of 17.17%. The company had revenue of $192.67 million for the quarter, compared to the consensus estimate of $196.39 million. During the same period last year, the firm posted $0.03 EPS. The company’s revenue was up 25.6% compared to the same quarter last year.

Atlas Energy Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 16th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.91%. The ex-dividend date is Wednesday, May 15th. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.21. Atlas Energy Solutions’s dividend payout ratio (DPR) is presently 40.76%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 50,000 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $19.97, for a total transaction of $998,500.00. Following the completion of the sale, the insider now directly owns 970,738 shares of the company’s stock, valued at approximately $19,385,637.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO John Gregory Turner sold 3,728 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $22.58, for a total value of $84,178.24. Following the transaction, the chief financial officer now directly owns 1,582,303 shares in the company, valued at approximately $35,728,401.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Stacy Hock sold 50,000 shares of the firm’s 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 transaction, the insider now owns 970,738 shares in the company, valued at approximately $19,385,637.86. The disclosure for this sale can be found here. In the last quarter, insiders have sold 246,860 shares of company stock valued at $5,332,121. 24.34% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Tucker Asset Management LLC acquired a new stake in Atlas Energy Solutions during the 3rd quarter worth approximately $49,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Atlas Energy Solutions during the third quarter worth $81,000. PNC Financial Services Group Inc. lifted its position in Atlas Energy Solutions by 1,328.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,571 shares of the company’s stock valued at $124,000 after acquiring an additional 5,181 shares in the last quarter. Barclays PLC boosted its stake in Atlas Energy Solutions by 79.4% in the 3rd quarter. Barclays PLC now owns 5,996 shares of the company’s stock worth $134,000 after purchasing an additional 2,654 shares during the period. Finally, Wealthsource Partners LLC bought a new position in Atlas Energy Solutions during the 4th quarter worth about $172,000. Institutional investors own 34.59% of the company’s stock.

Atlas Energy Solutions Price Performance

The company has a current ratio of 3.44, a quick ratio of 3.21 and a debt-to-equity ratio of 0.20. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 14.33, a P/E/G ratio of 0.54 and a beta of 0.66. The company has a 50 day simple moving average of $22.04 and a 200-day simple moving average of $19.07.

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.