Bryce Point Capital LLC Invests $1.57 Million in Atlas Energy Solutions Inc. (NYSE:AESI)

Bryce Point Capital LLC bought a new stake in Atlas Energy Solutions Inc. (NYSE:AESI) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 70,960 shares of the company’s stock, valued at approximately $1,574,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CBIZ Investment Advisory Services LLC lifted its stake in Atlas Energy Solutions by 62.9% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 1,354 shares of the company’s stock valued at $30,000 after acquiring an additional 523 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Atlas Energy Solutions by 1.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,931 shares of the company’s stock valued at $979,000 after purchasing an additional 711 shares during the period. Wilmington Savings Fund Society FSB boosted its holdings in Atlas Energy Solutions by 8.0% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 14,770 shares of the company’s stock valued at $328,000 after purchasing an additional 1,100 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in Atlas Energy Solutions by 191.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,941 shares of the company’s stock valued at $43,000 after purchasing an additional 1,276 shares during the last quarter. Finally, FMR LLC grew 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 worth $59,000 after purchasing an additional 1,355 shares during the period. Hedge funds and other institutional investors own 34.59% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Brian Anthony Leveille sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $23.00, for a total transaction of $115,000.00. Following the transaction, the insider now directly owns 404,510 shares in the company, valued at $9,303,730. The trade was a 1.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Stacy Hock sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $21.96, for a total value of $219,600.00. Following the completion of the sale, the insider now owns 907,604 shares of the company’s stock, valued at $19,930,983.84. This trade represents a 1.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock valued at $1,164,750 in the last 90 days. 24.34% of the stock is owned by insiders.

Atlas Energy Solutions Stock Up 1.4 %

AESI stock opened at $18.10 on Wednesday. Atlas Energy Solutions Inc. has a 52 week low of $16.98 and a 52 week high of $26.86. The company has a quick ratio of 1.08, a current ratio of 1.23 and a debt-to-equity ratio of 0.42. The firm has a 50-day simple moving average of $20.23 and a 200-day simple moving average of $21.29. The stock has a market capitalization of $2.20 billion, a P/E ratio of 22.91 and a beta of 1.18.

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 the consensus estimate of $0.18 by ($0.12). The firm had revenue of $271.34 million for the quarter, compared to analysts’ expectations of $272.94 million. Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. Equities analysts forecast that Atlas Energy Solutions Inc. will post 0.83 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 21st were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a yield of 5.53%. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.24. Atlas Energy Solutions’s dividend payout ratio (DPR) is presently 178.57%.

Analysts Set New Price Targets

AESI has been the subject of several analyst reports. The Goldman Sachs Group began coverage on Atlas Energy Solutions in a report on Friday, December 13th. They issued a “neutral” rating and a $23.00 price objective for the company. Raymond James cut shares of Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. Royal Bank of Canada decreased their target price on shares of Atlas Energy Solutions from $28.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Barclays dropped their price target on shares of Atlas Energy Solutions from $23.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. Finally, Piper Sandler initiated coverage on shares of Atlas Energy Solutions in a research report on Wednesday, March 12th. They issued an “overweight” rating and a $22.00 price objective for the company. Six research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Atlas Energy Solutions presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.83.

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.