Insider Selling: Atlas Energy Solutions Inc. (NYSE:AESI) Major Shareholder Sells $205,000.00 in Stock

Atlas Energy Solutions Inc. (NYSE:AESI) major shareholder Brian Anthony Leveille sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $20.50, for a total transaction of $205,000.00. Following the completion of the transaction, the insider now owns 542,010 shares in the company, valued at $11,111,205. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 Performance

Shares of Atlas Energy Solutions stock opened at $19.94 on Friday. Atlas Energy Solutions Inc. has a 12 month low of $15.55 and a 12 month high of $24.93. The firm has a market capitalization of $1.99 billion, a P/E ratio of 11.08, a P/E/G ratio of 6.47 and a beta of 0.56. The company has a current ratio of 1.53, a quick ratio of 1.35 and a debt-to-equity ratio of 0.42. The business has a fifty day simple moving average of $20.98 and a two-hundred day simple moving average of $21.45.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.18). The business had revenue of $287.52 million for the quarter, compared to analysts’ expectations of $270.55 million. Atlas Energy Solutions had a net margin of 13.71% and a return on equity of 16.75%. The company’s revenue was up 77.7% on a year-over-year basis. During the same period last year, the business earned $0.69 earnings per share. On average, equities analysts forecast that Atlas Energy Solutions Inc. will post 1.48 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, August 22nd. Investors of record on Thursday, August 15th were paid a $0.23 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.92 annualized dividend and a dividend yield of 4.61%. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.22. Atlas Energy Solutions’s dividend payout ratio is presently 51.11%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Beck Capital Management LLC increased its holdings 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 valued at $2,603,000 after acquiring an additional 749 shares in the last quarter. 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 worth $60,000 after buying an additional 886 shares during the last quarter. Cetera Investment Advisers lifted its stake in shares of Atlas Energy Solutions by 1.0% in the second quarter. Cetera Investment Advisers now owns 88,654 shares of the company’s stock worth $1,767,000 after buying an additional 897 shares in the last quarter. First Horizon Advisors Inc. grew its holdings 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 increased its position in shares of Atlas Energy Solutions by 328.1% during 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 in the last quarter. Hedge funds and other institutional investors own 34.59% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on AESI. Piper Sandler cut their price target on shares of Atlas Energy Solutions from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Barclays reduced their price target on Atlas Energy Solutions from $26.00 to $23.00 and set an “overweight” rating on the stock in a report on Wednesday. Royal Bank of Canada dropped their price objective 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. Benchmark reissued a “buy” rating and set a $27.00 target price on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. Finally, Stephens reaffirmed an “overweight” rating and issued a $28.00 price target on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. Eight 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.com, Atlas Energy Solutions has a consensus 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.