Atlas Energy Solutions (NYSE:AESI) Stock: Insider Gregory Shepard Sells 200,000 Shares

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

Atlas Energy Solutions Stock Performance

NYSE AESI opened at $5.60 on Thursday. The stock has a fifty day simple moving average of $10.85 and a 200-day simple moving average of $13.17. The company has a current ratio of 1.22, a quick ratio of 0.99 and a debt-to-equity ratio of 0.92. The stock has a market cap of $699.52 million, a PE ratio of -5.00 and a beta of 1.29. Atlas Energy Solutions Inc. has a twelve month low of $5.08 and a twelve month high of $20.13.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly earnings data on Monday, November 2nd. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.12). The company had revenue of $267.78 million during 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 quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.19) earnings per share. Equities analysts anticipate that Atlas Energy Solutions Inc. will post -1.02 earnings per share for the current year.

Analyst Upgrades and Downgrades

AESI has been the topic of several recent analyst reports. Barclays decreased their price objective on shares of Atlas Energy Solutions from $13.00 to $7.00 and set an “equal weight” rating on the stock in a report on Wednesday. The Goldman Sachs Group set a $12.00 target price on shares of Atlas Energy Solutions in a report on Friday, August 7th. Zacks Research downgraded shares of Atlas Energy Solutions from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 20th. Scotiabank boosted their target price on Atlas Energy Solutions from $17.00 to $18.00 and gave the company a “sector outperform” rating in a research report on Wednesday, November 4th. Finally, Stephens decreased their price target on Atlas Energy Solutions from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Monday, October 5th. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $15.80.

Hedge Funds Weigh In On Atlas Energy Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the company. Encompass Capital Advisors LLC acquired a new position in Atlas Energy Solutions in the 1st quarter valued at about $119,854,000. Wasatch Advisors LP purchased a new stake in Atlas Energy Solutions during the second quarter worth about $30,468,000. Dimensional Fund Advisors LP increased its stake in Atlas Energy Solutions by 12.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,502,480 shares of the company’s stock worth $19,713,000 after purchasing an additional 167,758 shares during the period. CenterBook Partners LP lifted its position in shares of Atlas Energy Solutions by 84.8% during the third quarter. CenterBook Partners LP now owns 1,180,943 shares of the company’s stock worth $14,183,000 after purchasing an additional 541,774 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new stake in shares of Atlas Energy Solutions during the third quarter worth about $9,992,000. 34.59% of the stock is currently owned by hedge funds and other institutional investors.

Latest Atlas Energy Solutions News

Here’s some of the latest news about AESI:

• Positive Sentiment: Citigroup lowered its price target to $16 from $17 but maintained a Buy rating, signaling continued optimism about AESI’s prospects. Citigroup rating information
• 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: 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

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.