Atlas Energy Solutions (NYSE:AESI) Insider Sells 500,000 Shares of Company Stock

Atlas Energy Solutions Inc. (NYSE:AESI) insider Gregory Shepard sold 500,000 shares of the stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $5.32, for a total value of $2,660,000.00. Following the sale, the insider directly owned 6,921,210 shares of the company’s stock, valued at $36,820,837.20. The trade was a 6.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Atlas Energy Solutions Stock Performance

Shares of AESI stock traded down $0.20 during midday trading on Tuesday, hitting $5.34. The company had a trading volume of 4,680,033 shares, compared to its average volume of 5,063,164. The company’s 50 day simple moving average is $10.99 and its 200 day simple moving average is $13.20. Atlas Energy Solutions Inc. has a 52-week low of $5.08 and a 52-week high of $20.13. The stock has a market cap of $667.50 million, a price-to-earnings ratio of -4.77 and a beta of 1.29. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.22 and a quick ratio of 0.99.

Atlas Energy Solutions (NYSE:AESI) last released its quarterly earnings results on Monday, November 2nd. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.12). Atlas Energy Solutions had a negative return on equity of 12.38% and a negative net margin of 12.98%. The company had revenue of $267.78 million for the quarter, compared to analysts’ expectations of $265.32 million. During the same quarter last year, the company earned ($0.19) EPS. Atlas Energy Solutions’s revenue for the quarter was up 3.1% compared to the same quarter last year. Research analysts anticipate that Atlas Energy Solutions Inc. will post -0.95 earnings per share for the current fiscal year.

Institutional Trading of Atlas Energy Solutions

Several hedge funds have recently modified their holdings of the business. Public Sector Pension Investment Board boosted its stake in shares of Atlas Energy Solutions by 105.5% in the third quarter. Public Sector Pension Investment Board now owns 546,658 shares of the company’s stock valued at $6,543,000 after buying an additional 280,598 shares in the last quarter. Global Retirement Partners LLC raised its position in Atlas Energy Solutions by 494.1% in the third quarter. Global Retirement Partners LLC now owns 14,414 shares of the company’s stock worth $173,000 after acquiring an additional 11,988 shares in the last quarter. Roubaix Capital LLC purchased a new position in Atlas Energy Solutions in the third quarter worth $3,895,000. Hantz Financial Services Inc. raised its position in Atlas Energy Solutions by 49.7% in the third quarter. Hantz Financial Services Inc. now owns 7,117 shares of the company’s stock worth $85,000 after acquiring an additional 2,362 shares in the last quarter. Finally, Maryland State Retirement & Pension System raised its position in Atlas Energy Solutions by 60.6% in the third quarter. Maryland State Retirement & Pension System now owns 18,167 shares of the company’s stock worth $218,000 after acquiring an additional 6,856 shares in the last quarter. 34.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AESI has been the topic of several recent research reports. Stifel Nicolaus dropped their price objective on shares of Atlas Energy Solutions from $25.00 to $21.00 and set a “buy” rating on the stock in a research note on Monday. Barclays reduced their target price on shares of Atlas Energy Solutions from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Thursday, October 15th. Royal Bank Of Canada lowered their target price on shares of Atlas Energy Solutions from $16.00 to $13.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 4th. Citigroup lowered their target price on shares of Atlas Energy Solutions from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, September 3rd. Finally, Glj Research initiated coverage on shares of Atlas Energy Solutions in a research note on Wednesday, October 28th. They set a “buy” rating and a $13.00 price target on the stock. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Atlas Energy Solutions presently has an average rating of “Hold” and an average target price of $16.50.

Atlas Energy Solutions Company Profile

Atlas Energy Solutions Inc. is a U.S. energy-services company that supplies proppant, primarily frac sand, used in hydraulic fracturing. The company mines, processes and distributes sand for oil and natural gas operators. Atlas also provides logistics services to move proppant from its facilities to well sites, including transportation and storage. Its operations are focused on the Permian Basin in West Texas and southeastern New Mexico, a major oil and gas producing region. Founded in 2017, the company has developed an integrated supply and logistics network serving energy producers in the region.