Atlas Energy Solutions (NYSE:AESI) Stock: Insider Gregory Shepard Sells 500,000 Shares

Atlas Energy Solutions Inc. (NYSE:AESI) insider Gregory Shepard sold 500,000 shares of the business’s stock in a transaction on Friday, November 6th. The shares were sold at an average price of $5.32, for a total transaction of $2,660,000.00. Following the transaction, the insider owned 6,921,210 shares in the company, valued at $36,820,837.20. This trade represents a 6.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Atlas Energy Solutions Stock Up 4.4%

Shares of NYSE AESI opened at $5.60 on Thursday. 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 company has a market cap of $699.52 million, a P/E ratio of -5.00 and a beta of 1.29. Atlas Energy Solutions Inc. has a 1 year low of $5.08 and a 1 year high of $20.13. The firm has a 50-day simple moving average of $10.85 and a two-hundred day simple moving average of $13.17.

Atlas Energy Solutions (NYSE:AESI) last issued 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 company had revenue of $267.78 million for the quarter, compared to analysts’ expectations of $265.32 million. Atlas Energy Solutions had a negative net margin of 12.98% and a negative return on equity of 12.38%. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.19) earnings per share. Research analysts anticipate that Atlas Energy Solutions Inc. will post -1.02 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on AESI shares. Weiss Ratings restated a “sell (d)” rating on shares of Atlas Energy Solutions in a research note on Wednesday, November 4th. The Goldman Sachs Group set a $12.00 price target on shares of Atlas Energy Solutions in a research note on Friday, August 7th. Stephens decreased their price target on shares of Atlas Energy Solutions from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Monday, October 5th. Citigroup lowered their price target on Atlas Energy Solutions from $17.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Glj Research initiated coverage on Atlas Energy Solutions in a research note on Wednesday, October 28th. They issued a “buy” rating and a $13.00 price objective on the stock. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $15.80.

Atlas Energy Solutions News Roundup

These are some of the AESI news items that stood out recently:

• Positive Sentiment: A Seeking Alpha article argued that emerging tailwinds support a Strong Buy view, providing a bullish counterpoint to the recent weakness. Atlas Energy Solutions: Emerging Tailwinds Make It A Strong Buy
• Negative Sentiment: Barclays cut its price target to $7 from $13 and kept an Equal Weight rating, reflecting a substantially less favorable outlook than Citigroup’s. Barclays rating information
• Negative Sentiment: Insider Gregory Shepard sold 890,500 shares across transactions on Nov. 6, 9 and 10, for about $4.75 million. He retained 6.53 million shares after the latest sale, but the repeated disposals may weigh on sentiment. SEC filing for insider transactions

Institutional Trading of Atlas Energy Solutions

Hedge funds have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. purchased a new position in Atlas Energy Solutions during the 3rd quarter valued at about $3,283,000. Ieq Capital LLC lifted its position in shares of Atlas Energy Solutions by 7.6% in the 3rd quarter. Ieq Capital LLC now owns 64,951 shares of the company’s stock worth $780,000 after purchasing an additional 4,576 shares during the period. Public Sector Pension Investment Board boosted its stake in shares of Atlas Energy Solutions by 105.5% during the third quarter. Public Sector Pension Investment Board now owns 546,658 shares of the company’s stock valued at $6,543,000 after purchasing an additional 280,598 shares in the last quarter. Global Retirement Partners LLC boosted its stake in shares of Atlas Energy Solutions by 494.1% during the third quarter. Global Retirement Partners LLC now owns 14,414 shares of the company’s stock valued at $173,000 after purchasing an additional 11,988 shares in the last quarter. Finally, Roubaix Capital LLC bought a new position in shares of Atlas Energy Solutions during the third quarter valued at approximately $3,895,000. 34.59% of the stock is owned by hedge funds and other institutional investors.

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.