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

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

Atlas Energy Solutions Trading Down 3.6%

NYSE:AESI opened at $5.34 on Wednesday. Atlas Energy Solutions Inc. has a one year low of $5.08 and a one year high of $20.13. The company has a market cap of $667.50 million, a PE ratio of -4.77 and a beta of 1.29. 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 firm has a 50-day moving average of $10.99 and a 200-day moving average of $13.20.

Atlas Energy Solutions (NYSE:AESI) last released its quarterly 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 analyst estimates of $265.32 million. Atlas Energy Solutions had a negative net margin of 12.98% and a negative return on equity of 12.38%. Atlas Energy Solutions’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.19) EPS. As a group, equities research analysts expect that Atlas Energy Solutions Inc. will post -0.95 EPS for the current fiscal year.

Institutional Investors Weigh In On Atlas Energy Solutions

A number of institutional investors have recently added to or reduced their stakes in the company. Cetera Investment Advisers grew its position in Atlas Energy Solutions by 6.9% in the 1st quarter. Cetera Investment Advisers now owns 21,094 shares of the company’s stock worth $277,000 after purchasing an additional 1,357 shares in the last quarter. Citizens Financial Group Inc. RI lifted its position in shares of Atlas Energy Solutions by 6.0% during the 1st quarter. Citizens Financial Group Inc. RI now owns 23,966 shares of the company’s stock worth $314,000 after buying an additional 1,364 shares in the last quarter. Hantz Financial Services Inc. lifted its position in shares of Atlas Energy Solutions by 49.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 7,117 shares of the company’s stock worth $85,000 after buying an additional 2,362 shares in the last quarter. State of Wyoming bought a new position in shares of Atlas Energy Solutions during the 1st quarter worth approximately $48,000. Finally, Ieq Capital LLC boosted its stake 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 buying an additional 4,576 shares during the last quarter. 34.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Piper Sandler cut their target price on Atlas Energy Solutions from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 4th. Scotiabank increased their price target 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. Royal Bank Of Canada lowered their price target on Atlas Energy Solutions from $16.00 to $13.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 4th. Citigroup dropped their price objective on Atlas Energy Solutions from $21.00 to $17.00 and set a “buy” rating on the stock in a research note on Thursday, September 3rd. Finally, The Goldman Sachs Group set a $12.00 price objective on Atlas Energy Solutions in a research note on Friday, August 7th. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $16.50.

Key Stories Impacting Atlas Energy Solutions

Here are the key news stories impacting Atlas Energy Solutions this week:

• Positive Sentiment: A Seeking Alpha article described emerging tailwinds as supporting a “strong buy” view of Atlas Energy Solutions, offering a bullish counterpoint to recent selling. Article: Atlas Energy Solutions: Emerging Tailwinds Make It A Strong Buy
• Neutral Sentiment: Stifel Nicolaus cut its price target from $25 to $21 but maintained a Buy rating. The revised target still implies substantial upside from the cited $5.34 share price. Article about Stifel Nicolaus’s price-target change
• Negative Sentiment: Insider Gregory Shepard sold a combined 890,500 shares on November 6, 9 and 10 for about $4.75 million. The repeated sales may concern investors, although he still held about 6.53 million shares after the latest transaction. SEC filing for insider transactions
• Negative Sentiment: Recent quarterly results showed a larger-than-expected loss per share, despite revenue modestly exceeding estimates. That earnings miss adds to the pressure on the shares.

About Atlas Energy Solutions

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.