Atlas Energy Solutions Inc.'s Lock
Aug 20, 2023
Atlas Energy Solutions' (NYSE:AESI - Get Free Report) lock-up period will expire on Tuesday, September 5th. Atlas Energy Solutions had issued 18,000,000 shares in its IPO on March 9th. The total size of the offering was $324,000,000 based on an initial share price of $18.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the expiration of the lock-up period.
Several brokerages recently commented on AESI. The Goldman Sachs Group upped their price target on shares of Atlas Energy Solutions from $22.00 to $24.00 and gave the company a "buy" rating in a research report on Thursday, August 3rd. Stephens restated an "overweight" rating and issued a $23.00 price target on shares of Atlas Energy Solutions in a research report on Tuesday, August 1st. Citigroup upped their price target on shares of Atlas Energy Solutions from $23.00 to $26.00 and gave the company a "buy" rating in a research report on Wednesday, August 16th. Raymond James upped their price target on shares of Atlas Energy Solutions from $25.00 to $27.00 and gave the company a "strong-buy" rating in a research report on Wednesday, August 2nd. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $25.00 target price on shares of Atlas Energy Solutions in a research report on Wednesday, August 2nd. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $25.00.
Get Our Latest Stock Analysis on AESI
Shares of AESI opened at $21.50 on Tuesday. The business's fifty day simple moving average is $19.17. Atlas Energy Solutions has a 12 month low of $15.06 and a 12 month high of $22.50. The company has a current ratio of 3.22, a quick ratio of 3.10 and a debt-to-equity ratio of 1.32.
Atlas Energy Solutions (NYSE:AESI - Get Free Report) last announced its quarterly earnings results on Monday, July 31st. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.64 by $0.05. The business had revenue of $161.79 million for the quarter, compared to analyst estimates of $144.51 million. Analysts expect that Atlas Energy Solutions will post 2.75 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Thursday, August 10th were paid a dividend of $0.20 per share. The ex-dividend date was Wednesday, August 9th. This represents a $0.80 annualized dividend and a dividend yield of 3.72%.
In other Atlas Energy Solutions news, CEO Ben M. Brigham purchased 10,000 shares of the company's stock in a transaction dated Monday, June 5th. The shares were bought at an average price of $16.85 per share, for a total transaction of $168,500.00. Following the purchase, the chief executive officer now directly owns 300,000 shares in the company, valued at approximately $5,055,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada grew its stake in Atlas Energy Solutions by 526.7% in the 2nd quarter. Royal Bank of Canada now owns 2,206 shares of the company's stock valued at $37,000 after buying an additional 1,854 shares during the last quarter. Sei Investments Co. grew its stake in Atlas Energy Solutions by 7.2% in the 2nd quarter. Sei Investments Co. now owns 42,460 shares of the company's stock valued at $737,000 after buying an additional 2,857 shares during the last quarter. Avondale Wealth Management acquired a new position in Atlas Energy Solutions in the 2nd quarter valued at $52,000. Russell Investments Group Ltd. acquired a new position in Atlas Energy Solutions in the 2nd quarter valued at $53,000. Finally, Strs Ohio acquired a new position in Atlas Energy Solutions in the 2nd quarter valued at $59,000. 17.86% of the stock is currently owned by institutional investors and hedge funds.
Atlas Energy Solutions Inc provides proppant and logistics services to the oil and natural gas industry within the Permian Basin of West Texas and New Mexico. The company was founded in 2017 and is based in Austin, Texas.
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