Insider Selling: Atlas Energy Solutions Inc. (NYSE:AESI) Major Shareholder Sells 10,000 Shares of Stock

Atlas Energy Solutions Inc. (NYSE:AESI) major shareholder Brian Anthony Leveille sold 10,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $20.50, for a total value of $205,000.00. Following the transaction, the insider now directly owns 542,010 shares of the company’s stock, valued at $11,111,205. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Atlas Energy Solutions Stock Up 2.0 %

Atlas Energy Solutions stock traded up $0.39 during mid-day trading on Wednesday, hitting $20.37. The company’s stock had a trading volume of 1,115,259 shares, compared to its average volume of 875,354. The firm’s 50 day moving average is $20.94 and its 200 day moving average is $21.48. The company has a market cap of $2.04 billion, a PE ratio of 11.32, a price-to-earnings-growth ratio of 6.47 and a beta of 0.56. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.53 and a quick ratio of 1.35. Atlas Energy Solutions Inc. has a 52-week low of $15.55 and a 52-week high of $24.93.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.18). The business had revenue of $287.52 million during the quarter, compared to analysts’ expectations of $270.55 million. Atlas Energy Solutions had a return on equity of 16.75% and a net margin of 13.71%. The firm’s revenue was up 77.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.69 earnings per share. On average, analysts anticipate that Atlas Energy Solutions Inc. will post 1.48 earnings per share for the current year.

Atlas Energy Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were paid a dividend of $0.23 per share. The ex-dividend date was Thursday, August 15th. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.52%. Atlas Energy Solutions’s dividend payout ratio (DPR) is 51.11%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on AESI shares. The Goldman Sachs Group decreased their target price on Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Bank of America reduced their target price on Atlas Energy Solutions from $25.00 to $24.00 and set a “buy” rating for the company in a report on Monday, July 15th. Benchmark reaffirmed a “buy” rating and set a $27.00 target price on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Royal Bank of Canada reduced their target price on Atlas Energy Solutions from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Friday, October 11th. Finally, Stephens reaffirmed an “overweight” rating and set a $28.00 target price on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Eight equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $25.75.

Institutional Investors Weigh In On Atlas Energy Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. B & T Capital Management DBA Alpha Capital Management raised its stake in shares of Atlas Energy Solutions by 2.8% during the 3rd quarter. B & T Capital Management DBA Alpha Capital Management now owns 348,731 shares of the company’s stock worth $7,602,000 after purchasing an additional 9,380 shares in the last quarter. CWM LLC raised its stake in shares of Atlas Energy Solutions by 47.1% during the 3rd quarter. CWM LLC now owns 2,766 shares of the company’s stock worth $60,000 after purchasing an additional 886 shares in the last quarter. Diversified Trust Co purchased a new stake in shares of Atlas Energy Solutions during the 3rd quarter worth about $201,000. SG Americas Securities LLC acquired a new position in shares of Atlas Energy Solutions during the 3rd quarter valued at about $249,000. Finally, Central Pacific Bank Trust Division increased its holdings in shares of Atlas Energy Solutions by 11.2% during the 3rd quarter. Central Pacific Bank Trust Division now owns 19,457 shares of the company’s stock valued at $424,000 after acquiring an additional 1,952 shares during the last quarter. 34.59% of the stock is owned by hedge funds and other institutional investors.

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.