Atlas Energy Solutions (NYSE:AESI) Shares Gap Up Following Insider Buying Activity

Shares of Atlas Energy Solutions Inc. (NYSE:AESI) gapped up prior to trading on Tuesday following insider buying activity. The stock had previously closed at $20.02, but opened at $20.88. Atlas Energy Solutions shares last traded at $21.17, with a volume of 267,565 shares.

Specifically, major shareholder Gregory M. Shepard acquired 23,300 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was purchased at an average cost of $19.55 per share, with a total value of $455,515.00. Following the completion of the acquisition, the insider now directly owns 7,540,306 shares of the company’s stock, valued at approximately $147,412,982.30. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Gregory M. Shepard bought 8,062 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The stock was bought at an average price of $19.84 per share, for a total transaction of $159,950.08. Following the acquisition, the insider now directly owns 7,515,256 shares of the company’s stock, valued at $149,102,679.04. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Bank of America dropped their price target on Atlas Energy Solutions from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Piper Sandler reduced their target price on shares of Atlas Energy Solutions from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Stephens reaffirmed an “overweight” rating and issued a $28.00 target price on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Barclays decreased their price objective on Atlas Energy Solutions from $26.00 to $23.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Finally, Benchmark restated a “buy” rating and set a $27.00 target price on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. Eight analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $25.75.

Atlas Energy Solutions Price Performance

The firm has a market cap of $2.17 billion, a P/E ratio of 11.93, a P/E/G ratio of 6.47 and a beta of 0.56. The firm’s fifty day simple moving average is $20.99 and its 200 day simple moving average is $21.26. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.35 and a current ratio of 1.53.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.18). Atlas Energy Solutions had a return on equity of 16.75% and a net margin of 13.71%. The business had revenue of $287.52 million during the quarter, compared to the consensus estimate of $270.55 million. During the same quarter in the prior year, the firm posted $0.69 EPS. The company’s revenue for the quarter was up 77.7% on a year-over-year basis. As a group, analysts forecast that Atlas Energy Solutions Inc. will post 1.48 earnings per share for the current year.

Atlas Energy Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were paid a dividend of $0.23 per share. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a yield of 4.25%. The ex-dividend date was Thursday, August 15th. Atlas Energy Solutions’s payout ratio is presently 51.11%.

Hedge Funds Weigh In On Atlas Energy Solutions

Large investors have recently made changes to their positions in the company. First Horizon Advisors Inc. grew its stake in shares of Atlas Energy Solutions by 313.7% during the second quarter. First Horizon Advisors Inc. now owns 1,725 shares of the company’s stock valued at $34,000 after buying an additional 1,308 shares during the last quarter. Amalgamated Bank grew its position in Atlas Energy Solutions by 328.1% in the 2nd quarter. Amalgamated Bank now owns 2,350 shares of the company’s stock valued at $47,000 after acquiring an additional 1,801 shares during the last quarter. CWM LLC boosted its stake in shares of Atlas Energy Solutions by 47.1% during the third quarter. CWM LLC now owns 2,766 shares of the company’s stock valued at $60,000 after purchasing an additional 886 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Atlas Energy Solutions during the 2nd quarter valued at about $74,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Atlas Energy Solutions during the first quarter worth $78,000. 34.59% of the stock is owned by hedge funds and other institutional investors.

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.