Insider Selling: Atlas Energy Solutions (NYSE:AESI) Insider Sells $1,112,000.00 in Stock

Atlas Energy Solutions Inc. (NYSE:AESI) insider Gregory Shepard sold 200,000 shares of the stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $5.56, for a total value of $1,112,000.00. Following the completion of the sale, the insider owned 6,721,210 shares of the company’s stock, valued at $37,369,927.60. This trade represents a 2.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Atlas Energy Solutions Trading Down 0.9%

NYSE:AESI opened at $5.53 on Friday. Atlas Energy Solutions Inc. has a fifty-two week low of $5.08 and a fifty-two week high of $20.13. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.22 and a quick ratio of 0.99. The stock has a market capitalization of $691 million, a PE ratio of -4.94 and a beta of 1.29. The business’s 50-day simple moving average is $10.70 and its 200-day simple moving average is $13.14.

Atlas Energy Solutions (NYSE:AESI) last posted its earnings results on Monday, November 2nd. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.12). The business had revenue of $267.78 million for the quarter, compared to the consensus estimate of $265.32 million. Atlas Energy Solutions had a negative return on equity of 12.38% and a negative net margin of 12.98%. Atlas Energy Solutions’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.19) earnings per share. Sell-side analysts expect that Atlas Energy Solutions Inc. will post -1.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on AESI shares. Scotiabank upped their target price on shares of Atlas Energy Solutions from $17.00 to $18.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, November 4th. Piper Sandler dropped their price target on Atlas Energy Solutions from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 4th. Stifel Nicolaus cut their price target on Atlas Energy Solutions from $25.00 to $21.00 and set a “buy” rating on the stock in a report on Monday. Zacks Research lowered Atlas Energy Solutions from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 20th. Finally, Citigroup reduced their price objective on Atlas Energy Solutions from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Atlas Energy Solutions has a consensus rating of “Hold” and a consensus target price of $15.80.

Hedge Funds Weigh In On Atlas Energy Solutions

Institutional investors have recently bought and sold shares of the business. Encompass Capital Advisors LLC acquired a new stake in Atlas Energy Solutions during the 1st quarter valued at $119,854,000. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Atlas Energy Solutions by 14.2% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,029,083 shares of the company’s stock worth $36,379,000 after purchasing an additional 377,645 shares during the period. Wasatch Advisors LP acquired a new position in shares of Atlas Energy Solutions in the second quarter valued at $30,468,000. Dimensional Fund Advisors LP increased its holdings in shares of Atlas Energy Solutions by 12.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,502,480 shares of the company’s stock valued at $19,713,000 after purchasing an additional 167,758 shares during the last quarter. Finally, CenterBook Partners LP increased its holdings in shares of Atlas Energy Solutions by 84.8% in the third quarter. CenterBook Partners LP now owns 1,180,943 shares of the company’s stock valued at $14,183,000 after purchasing an additional 541,774 shares during the last quarter. Institutional investors and hedge funds own 34.59% of the company’s stock.

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.