Insider Selling: Atlas Energy Solutions Inc. (NYSE:AESI) Major Shareholder Sells 8,571 Shares of Stock

Atlas Energy Solutions Inc. (NYSE:AESI) major shareholder Stacy Hock sold 8,571 shares of Atlas Energy Solutions stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $22.55, for a total transaction of $193,276.05. Following the sale, the insider now owns 917,604 shares in the company, valued at $20,691,970.20. This represents a 0.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Stacy Hock also recently made the following trade(s):

• On Wednesday, November 13th, Stacy Hock sold 8,571 shares of Atlas Energy Solutions stock. The stock was sold at an average price of $21.12, for a total value of $181,019.52.
• On Thursday, October 3rd, Stacy Hock sold 8,571 shares of Atlas Energy Solutions stock. The shares were sold at an average price of $21.49, for a total transaction of $184,190.79.

Atlas Energy Solutions Price Performance

NYSE AESI opened at $21.44 on Friday. 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 stock has a market capitalization of $2.36 billion, a PE ratio of 27.14, a price-to-earnings-growth ratio of 11.53 and a beta of 0.96. The company has a 50 day moving average price of $21.45 and a two-hundred day moving average price of $20.98. Atlas Energy Solutions Inc. has a 12-month low of $15.55 and a 12-month high of $24.93.

Atlas Energy Solutions (NYSE:AESI) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.25). Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The company had revenue of $304.40 million during the quarter, compared to analyst estimates of $307.93 million. During the same quarter in the prior year, the business earned $0.51 earnings per share. The business’s revenue for the quarter was up 93.1% on a year-over-year basis. As a group, equities analysts predict that Atlas Energy Solutions Inc. will post 0.88 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.96 dividend on an annualized basis and a yield of 4.48%. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.23. Atlas Energy Solutions’s payout ratio is currently 121.52%.

Hedge Funds Weigh In On Atlas Energy Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in AESI. First Horizon Advisors Inc. raised its holdings in shares of Atlas Energy Solutions by 313.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,725 shares of the company’s stock worth $34,000 after buying an additional 1,308 shares in the last quarter. Amalgamated Bank raised its stake 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 valued at $47,000 after acquiring an additional 1,801 shares during the last quarter. Quest Partners LLC bought a new stake in Atlas Energy Solutions during the 3rd quarter worth approximately $48,000. FMR LLC raised its position in Atlas Energy Solutions by 101.0% in the 3rd quarter. FMR LLC now owns 2,696 shares of the company’s stock valued at $59,000 after purchasing an additional 1,355 shares during the last quarter. Finally, CWM LLC grew its stake in shares of Atlas Energy Solutions by 47.1% during the third quarter. CWM LLC now owns 2,766 shares of the company’s stock valued at $60,000 after purchasing an additional 886 shares during the last quarter. 34.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $25.00 price objective on shares of Atlas Energy Solutions in a report on Wednesday, October 30th. Barclays cut Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $23.00 to $19.00 in a report on Tuesday, November 12th. The Goldman Sachs Group initiated coverage on Atlas Energy Solutions in a research note on Friday, December 13th. They set a “neutral” rating and a $23.00 target price for the company. Pickering Energy Partners cut Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 30th. Finally, Citigroup lowered Atlas Energy Solutions from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $23.00 to $22.00 in a research note on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.67.

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.