Promus Capital LLC Invests $55,000 in Atlas Energy Solutions Inc. (NYSE:AESI)

Promus Capital LLC bought a new position in Atlas Energy Solutions Inc. (NYSE:AESI) in the 4th quarter, HoldingsChannel reports. The fund bought 2,458 shares of the company’s stock, valued at approximately $55,000.

Other hedge funds also recently made changes to their positions in the company. Global Retirement Partners LLC grew its position in shares of Atlas Energy Solutions by 191.9% in the 4th quarter. Global Retirement Partners LLC now owns 1,941 shares of the company’s stock worth $43,000 after acquiring an additional 1,276 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Atlas Energy Solutions in the 3rd quarter worth approximately $48,000. FMR LLC boosted its position in Atlas Energy Solutions by 101.0% during the 3rd quarter. FMR LLC now owns 2,696 shares of the company’s stock valued at $59,000 after purchasing an additional 1,355 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Atlas Energy Solutions by 55.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,745 shares of the company’s stock valued at $125,000 after purchasing an additional 2,043 shares during the period. Finally, Mutual of America Capital Management LLC acquired a new position in Atlas Energy Solutions during the 4th quarter valued at approximately $204,000. Institutional investors and hedge funds own 34.59% of the company’s stock.

Insider Activity

In other news, major shareholder Stacy Hock sold 8,571 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $22.55, for a total value of $193,276.05. Following the completion of the sale, the insider now owns 917,604 shares in the company, valued at $20,691,970.20. This represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Brian Anthony Leveille sold 5,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $23.17, for a total value of $115,850.00. Following the sale, the insider now directly owns 409,510 shares of the company’s stock, valued at approximately $9,488,346.70. This represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,571 shares of company stock worth $1,473,876 over the last 90 days. 24.34% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on AESI shares. The Goldman Sachs Group started coverage on Atlas Energy Solutions in a research report on Friday, December 13th. They set a “neutral” rating and a $23.00 price objective for the company. Bank of America restated a “neutral” rating and set a $22.50 price objective on shares of Atlas Energy Solutions in a research report on Monday, January 13th. Citigroup lowered Atlas Energy Solutions from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $23.00 to $22.00 in a research report on Thursday, November 14th. Royal Bank of Canada reduced their price objective on Atlas Energy Solutions from $28.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Finally, Barclays reduced their price objective on Atlas Energy Solutions from $23.00 to $19.00 and set an “equal weight” rating for the company in a research report on Monday. Six equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Atlas Energy Solutions currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.39.

Atlas Energy Solutions Stock Down 2.0 %

Shares of Atlas Energy Solutions stock opened at $17.49 on Thursday. The business’s fifty day moving average price is $22.17 and its two-hundred day moving average price is $21.66. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.08. The company has a market capitalization of $1.93 billion, a P/E ratio of 22.14 and a beta of 1.18. Atlas Energy Solutions Inc. has a 1-year low of $17.02 and a 1-year high of $26.86.

Atlas Energy Solutions (NYSE:AESI) last posted its quarterly earnings data on Monday, February 24th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.12). The firm had revenue of $271.34 million during the quarter, compared to the consensus estimate of $272.94 million. Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. As a group, research analysts forecast that Atlas Energy Solutions Inc. will post 0.83 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 21st were issued a $0.25 dividend. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, February 21st. This represents a $1.00 annualized dividend and a dividend yield of 5.72%. Atlas Energy Solutions’s dividend payout ratio is 178.57%.

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.