Insider Selling: Atlas Energy Solutions Inc. (NYSE:AESI) Major Shareholder Sells 8,574 Shares of Stock

Atlas Energy Solutions Inc. (NYSE:AESI) major shareholder Stacy Hock sold 8,574 shares of Atlas Energy Solutions stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $19.76, for a total transaction of $169,422.24. Following the transaction, the insider now directly owns 969,030 shares of the company’s stock, valued at $19,148,032.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Atlas Energy Solutions Trading Up 0.8 %

NYSE:AESI opened at $19.93 on Friday. Atlas Energy Solutions Inc. has a one year low of $15.55 and a one year high of $24.93. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.05 and a current ratio of 2.24. The firm has a market cap of $1.99 billion, a P/E ratio of 11.07, a P/E/G ratio of 2.85 and a beta of 0.73. The firm has a 50-day simple moving average of $22.10 and a 200-day simple moving average of $20.15.

Atlas Energy Solutions (NYSE:AESI) last posted its quarterly earnings results on Monday, May 6th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.12). Atlas Energy Solutions had a net margin of 19.98% and a return on equity of 29.56%. The business had revenue of $192.67 million during the quarter, compared to the consensus estimate of $196.39 million. During the same quarter in the prior year, the firm posted $0.03 EPS. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. Equities analysts anticipate that Atlas Energy Solutions Inc. will post 2.02 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 16th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 4.42%. The ex-dividend date was Wednesday, May 15th. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.21. Atlas Energy Solutions’s payout ratio is 35.56%.

Analysts Set New Price Targets

Several research firms have issued reports on AESI. Raymond James boosted their price objective on shares of Atlas Energy Solutions from $26.00 to $27.00 and gave the company a “strong-buy” rating in a research report on Tuesday, April 16th. The Goldman Sachs Group boosted their price objective on shares of Atlas Energy Solutions from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Tudor Pickering raised shares of Atlas Energy Solutions to a “strong-buy” rating in a research report on Monday, June 24th. Tudor, Pickering, Holt & Co. began coverage on shares of Atlas Energy Solutions in a research report on Monday, June 24th. They issued a “buy” rating for the company. Finally, Barclays boosted their price objective on shares of Atlas Energy Solutions from $23.00 to $26.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Atlas Energy Solutions presently has an average rating of “Buy” and an average price target of $26.00.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Tucker Asset Management LLC bought a new position in shares of Atlas Energy Solutions during the 3rd quarter worth approximately $49,000. DekaBank Deutsche Girozentrale bought a new position in shares of Atlas Energy Solutions during the 1st quarter worth approximately $78,000. PNC Financial Services Group Inc. raised its stake in shares of Atlas Energy Solutions by 1,328.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,571 shares of the company’s stock worth $124,000 after acquiring an additional 5,181 shares in the last quarter. Barclays PLC raised its stake in shares of Atlas Energy Solutions by 79.4% during the 3rd quarter. Barclays PLC now owns 5,996 shares of the company’s stock worth $134,000 after acquiring an additional 2,654 shares in the last quarter. Finally, Bessemer Group Inc. bought a new position in shares of Atlas Energy Solutions during the 1st quarter worth approximately $154,000. Institutional investors own 34.59% of the company’s stock.

Atlas Energy Solutions Company Profile

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.