State of Alaska Department of Revenue Makes New Investment in Atlas Energy Solutions Inc. (NYSE:AESI)

State of Alaska Department of Revenue acquired a new position in shares of Atlas Energy Solutions Inc. (NYSE:AESI) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 34,452 shares of the company’s stock, valued at approximately $764,000.

Several other hedge funds have also modified their holdings of the stock. Quest Partners LLC purchased a new stake in Atlas Energy Solutions during the 3rd quarter worth about $48,000. FMR LLC increased its stake in shares of Atlas Energy Solutions by 101.0% during the third quarter. FMR LLC now owns 2,696 shares of the company’s stock worth $59,000 after buying an additional 1,355 shares during the period. CWM LLC raised its holdings in Atlas Energy Solutions by 47.1% in the third quarter. CWM LLC now owns 2,766 shares of the company’s stock valued at $60,000 after acquiring an additional 886 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Atlas Energy Solutions by 55.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,745 shares of the company’s stock valued at $125,000 after acquiring an additional 2,043 shares in the last quarter. Finally, Emerald Advisers LLC lifted its stake in Atlas Energy Solutions by 28.4% in the third quarter. Emerald Advisers LLC now owns 10,850 shares of the company’s stock worth $237,000 after acquiring an additional 2,400 shares during the last quarter. 34.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AESI shares. Citigroup 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 $22.00 in a report on Thursday, November 14th. Pickering Energy Partners cut Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research note on Wednesday, October 30th. Stephens upped their price objective on Atlas Energy Solutions from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. Bank of America restated a “neutral” rating and set a $22.50 target price on shares of Atlas Energy Solutions in a research note on Monday, January 13th. Finally, Benchmark increased their price target on shares of Atlas Energy Solutions from $23.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Six 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.50.

Insider Activity at Atlas Energy Solutions

In other Atlas Energy Solutions news, major shareholder Brian Anthony Leveille sold 10,000 shares of Atlas Energy Solutions 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 transaction, the insider now directly owns 482,010 shares in the company, valued at approximately $9,977,607. This trade represents a 2.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Stacy Hock sold 8,571 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 917,604 shares of the company’s stock, valued at $20,691,970.20. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 126,071 shares of company stock worth $2,915,851 in the last 90 days. 24.34% of the stock is owned by insiders.

Atlas Energy Solutions Price Performance

AESI stock opened at $21.85 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $2.41 billion, a P/E ratio of 27.65, a PEG ratio of 6.39 and a beta of 1.03. The business has a 50 day simple moving average of $22.68 and a 200-day simple moving average of $21.59. Atlas Energy Solutions Inc. has a twelve month low of $17.39 and a twelve month high of $26.86.

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.