Insider Selling: Atlas Energy Solutions Inc. (NYSE:AESI) Major Shareholder Sells $169,422.24 in Stock

Atlas Energy Solutions Inc. (NYSE:AESI) major shareholder Stacy Hock sold 8,574 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $19.76, for a total value of $169,422.24. Following the sale, the insider now owns 969,030 shares of the company’s stock, valued at approximately $19,148,032.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Atlas Energy Solutions Stock Up 0.8 %

NYSE AESI opened at $19.93 on Friday. The business has a fifty day moving average price of $22.10 and a two-hundred day moving average price of $20.15. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.24 and a quick ratio of 2.05. Atlas Energy Solutions Inc. has a fifty-two week low of $15.55 and a fifty-two week high of $24.93. The stock has a market capitalization of $1.99 billion, a PE ratio of 11.07, a PEG ratio of 2.85 and a beta of 0.73.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.12). The company had revenue of $192.67 million for the quarter, compared to analyst estimates of $196.39 million. Atlas Energy Solutions had a return on equity of 29.56% and a net margin of 19.98%. The firm’s quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter last year, the company posted $0.03 earnings per share. Equities analysts expect that Atlas Energy Solutions Inc. will post 2.02 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, May 16th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Wednesday, May 15th. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 4.42%. Atlas Energy Solutions’s dividend payout ratio is 35.56%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on AESI shares. The Goldman Sachs Group boosted their price target on Atlas Energy Solutions from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Benchmark started coverage on Atlas Energy Solutions in a research note on Thursday, May 23rd. They issued a “buy” rating and a $27.00 price target for the company. Raymond James boosted their price target on Atlas Energy Solutions from $26.00 to $27.00 and gave the company a “strong-buy” rating in a research note on Tuesday, April 16th. Tudor, Pickering, Holt & Co. started coverage on Atlas Energy Solutions in a research note on Monday, June 24th. They issued a “buy” rating for the company. Finally, Tudor Pickering upgraded Atlas Energy Solutions to a “strong-buy” rating in a research note on Monday, June 24th. Seven equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Atlas Energy Solutions presently has a consensus rating of “Buy” and an average target price of $26.00.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Tucker Asset Management LLC acquired a new position in shares of Atlas Energy Solutions during the third quarter worth $49,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Atlas Energy Solutions during the first quarter worth $78,000. PNC Financial Services Group Inc. increased its holdings in shares of Atlas Energy Solutions by 1,328.5% during the third quarter. PNC Financial Services Group Inc. now owns 5,571 shares of the company’s stock worth $124,000 after buying an additional 5,181 shares in the last quarter. Barclays PLC increased its holdings in Atlas Energy Solutions by 79.4% in the third quarter. Barclays PLC now owns 5,996 shares of the company’s stock valued at $134,000 after purchasing an additional 2,654 shares during the period. Finally, Bessemer Group Inc. acquired a new stake in Atlas Energy Solutions in the first quarter valued at $154,000. 34.59% of the stock is currently owned by institutional investors and hedge funds.

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.