Insider Selling: Atlas Energy Solutions Inc. (NYSE:AESI) Major Shareholder Sells 21,043 Shares of Stock

Atlas Energy Solutions Inc. (NYSE:AESI) major shareholder Richard W. Schmidt sold 21,043 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $22.44, for a total value of $472,204.92. Following the completion of the sale, the insider now owns 1,119,553 shares in the company, valued at $25,122,769.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Atlas Energy Solutions Stock Up 1.4 %

Atlas Energy Solutions stock traded up $0.30 during mid-day trading on Wednesday, reaching $22.49. 457,650 shares of the company were exchanged, compared to its average volume of 806,221. The firm has a market cap of $2.25 billion and a P/E ratio of 14.14. Atlas Energy Solutions Inc. has a 12-month low of $15.28 and a 12-month high of $24.69. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.21 and a current ratio of 3.44. The business has a fifty day moving average of $18.94 and a 200 day moving average of $18.92.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.24). The business had revenue of $141.14 million for the quarter, compared to analyst estimates of $147.34 million. Atlas Energy Solutions had a return on equity of 47.40% and a net margin of 17.17%. Research analysts anticipate that Atlas Energy Solutions Inc. will post 2.98 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, February 29th. Shareholders of record on Thursday, February 22nd were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.73%. The ex-dividend date was Wednesday, February 21st. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.20. Atlas Energy Solutions’s dividend payout ratio (DPR) is currently 40.76%.

Institutional Investors Weigh In On Atlas Energy Solutions

Large investors have recently modified their holdings of the business. Royal Bank of Canada grew its stake in shares of Atlas Energy Solutions by 526.7% during the second quarter. Royal Bank of Canada now owns 2,206 shares of the company’s stock worth $37,000 after acquiring an additional 1,854 shares during the last quarter. Tucker Asset Management LLC purchased a new stake in shares of Atlas Energy Solutions during the third quarter worth about $49,000. Russell Investments Group Ltd. purchased a new stake in shares of Atlas Energy Solutions during the second quarter worth about $53,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Atlas Energy Solutions during the third quarter worth about $81,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Atlas Energy Solutions during the second quarter worth about $69,000. Hedge funds and other institutional investors own 34.59% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Royal Bank of Canada lifted their price target on shares of Atlas Energy Solutions from $23.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, February 28th. Barclays upped their target price on Atlas Energy Solutions from $23.00 to $26.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Finally, The Goldman Sachs Group started coverage on Atlas Energy Solutions in a report on Thursday, March 14th. They issued a “buy” rating and a $24.00 target price for the company. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $25.00.

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.