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 Atlas Energy Solutions stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $20.50, for a total value of $205,000.00. Following the completion of the sale, the insider now owns 542,010 shares of the company’s stock, valued at $11,111,205. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Atlas Energy Solutions Stock Down 0.4 %

NYSE AESI opened at $19.94 on Friday. Atlas Energy Solutions Inc. has a 52 week low of $15.55 and a 52 week high of $24.93. The company has a quick ratio of 1.35, a current ratio of 1.53 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $1.99 billion, a P/E ratio of 11.08, a price-to-earnings-growth ratio of 6.47 and a beta of 0.56. The stock’s 50-day moving average price is $20.98 and its 200-day moving average price is $21.45.

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

Atlas Energy Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date of this dividend was Thursday, August 15th. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.22. Atlas Energy Solutions’s dividend payout ratio is presently 51.11%.

Hedge Funds Weigh In On Atlas Energy Solutions

Several large investors have recently made changes to their positions in AESI. Beck Capital Management LLC grew its position in shares of Atlas Energy Solutions by 0.6% during the second quarter. Beck Capital Management LLC now owns 130,588 shares of the company’s stock worth $2,603,000 after purchasing an additional 749 shares in the last quarter. CWM LLC grew its holdings in Atlas Energy Solutions by 47.1% during the 3rd quarter. CWM LLC now owns 2,766 shares of the company’s stock valued at $60,000 after buying an additional 886 shares in the last quarter. Cetera Investment Advisers grew its holdings in Atlas Energy Solutions by 1.0% during the 2nd quarter. Cetera Investment Advisers now owns 88,654 shares of the company’s stock valued at $1,767,000 after buying an additional 897 shares in the last quarter. First Horizon Advisors Inc. raised its position in shares of Atlas Energy Solutions by 313.7% during the second quarter. First Horizon Advisors Inc. now owns 1,725 shares of the company’s stock valued at $34,000 after buying an additional 1,308 shares during the last quarter. Finally, Amalgamated Bank lifted its holdings in shares of Atlas Energy Solutions by 328.1% in the second quarter. Amalgamated Bank now owns 2,350 shares of the company’s stock worth $47,000 after buying an additional 1,801 shares in the last quarter. 34.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on AESI shares. The Goldman Sachs Group decreased their price objective on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Royal Bank of Canada decreased their target price on shares of Atlas Energy Solutions from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Friday, October 11th. Benchmark restated a “buy” rating and issued a $27.00 price target on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. Piper Sandler reduced their price objective on Atlas Energy Solutions from $29.00 to $27.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Finally, Stephens reissued an “overweight” rating and issued a $28.00 target price on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. Eight analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $25.75.

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.