Atlas Energy Solutions Inc. (NYSE:AESI) Major Shareholder Sells $219,600.00 in Stock

Atlas Energy Solutions Inc. (NYSE:AESI) major shareholder Stacy Hock sold 10,000 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $21.96, for a total transaction of $219,600.00. Following the completion of the sale, the insider now owns 907,604 shares of the company’s stock, valued at approximately $19,930,983.84. This trade represents a 1.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Stacy Hock also recently made the following trade(s):

• On Wednesday, December 18th, Stacy Hock sold 8,571 shares of Atlas Energy Solutions stock. The shares were sold at an average price of $22.55, for a total transaction of $193,276.05.
• On Wednesday, November 13th, Stacy Hock sold 8,571 shares of Atlas Energy Solutions stock. The stock was sold at an average price of $21.12, for a total value of $181,019.52.

Atlas Energy Solutions Price Performance

AESI stock opened at $23.95 on Thursday. The firm has a 50 day moving average of $22.29 and a 200-day moving average of $21.22. The company has a market cap of $2.64 billion, a price-to-earnings ratio of 30.32, a PEG ratio of 11.53 and a beta of 1.03. The company has a current ratio of 1.23, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42. Atlas Energy Solutions Inc. has a 12-month low of $15.55 and a 12-month high of $24.93.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.25). Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The firm had revenue of $304.40 million for the quarter, compared to analyst estimates of $307.93 million. During the same period in the prior year, the firm posted $0.51 earnings per share. The business’s revenue for the quarter was up 93.1% compared to the same quarter last year. As a group, equities analysts expect that Atlas Energy Solutions Inc. will post 0.88 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.01%. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Thursday, November 7th. Atlas Energy Solutions’s dividend payout ratio is presently 121.52%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AESI. Citigroup cut Atlas Energy Solutions from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $23.00 to $22.00 in a research report on Thursday, November 14th. The Goldman Sachs Group initiated coverage on shares of Atlas Energy Solutions in a research report on Friday, December 13th. They issued a “neutral” rating and a $23.00 price objective on the stock. Raymond James cut shares of Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $25.00 target price on shares of Atlas Energy Solutions in a report on Wednesday, October 30th. Finally, Pickering Energy Partners cut shares of Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.50.

Hedge Funds Weigh In On Atlas Energy Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AESI. B & T Capital Management DBA Alpha Capital Management grew its position in shares of Atlas Energy Solutions by 0.8% in the fourth quarter. B & T Capital Management DBA Alpha Capital Management now owns 351,565 shares of the company’s stock valued at $7,798,000 after purchasing an additional 2,834 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in Atlas Energy Solutions by 9.9% during the 4th quarter. Harbor Capital Advisors Inc. now owns 33,733 shares of the company’s stock valued at $748,000 after buying an additional 3,044 shares during the last quarter. JPMorgan Chase & Co. increased its position in Atlas Energy Solutions by 324.3% during the third quarter. JPMorgan Chase & Co. now owns 194,494 shares of the company’s stock worth $4,240,000 after buying an additional 148,655 shares in the last quarter. Principal Financial Group Inc. acquired a new position in shares of Atlas Energy Solutions in the third quarter worth $844,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Atlas Energy Solutions in the third quarter valued at $298,000. Institutional investors and hedge funds own 34.59% of the company’s stock.

About Atlas Energy Solutions

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.