Insider Selling: Atlas Energy Solutions (NYSE:AESI) Insider Sells $982,980.00 in Stock

Atlas Energy Solutions Inc. (NYSE:AESI) insider Gregory Shepard sold 190,500 shares of the firm’s stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $5.16, for a total value of $982,980.00. Following the sale, the insider owned 6,530,710 shares of the company’s stock, valued at $33,698,463.60. The trade was a 2.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Atlas Energy Solutions Trading Down 0.9%

NYSE:AESI opened at $5.53 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.22 and a quick ratio of 0.99. Atlas Energy Solutions Inc. has a fifty-two week low of $5.08 and a fifty-two week high of $20.13. The stock’s 50-day moving average is $10.70 and its two-hundred day moving average is $13.14. The stock has a market cap of $691 million, a PE ratio of -4.94 and a beta of 1.29.

Atlas Energy Solutions (NYSE:AESI) last issued its earnings results on Monday, November 2nd. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.12). The business had revenue of $267.78 million during 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 in the prior year, the company earned ($0.19) EPS. As a group, equities research analysts forecast that Atlas Energy Solutions Inc. will post -1.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in shares of Atlas Energy Solutions by 12.6% during the 1st 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 in the last quarter. CenterBook Partners LP lifted its holdings in shares of Atlas Energy Solutions by 84.8% during the 3rd quarter. CenterBook Partners LP now owns 1,180,943 shares of the company’s stock valued at $14,183,000 after buying an additional 541,774 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Atlas Energy Solutions in the 2nd quarter valued at approximately $7,765,000. Encompass Capital Advisors LLC bought a new stake in shares of Atlas Energy Solutions in the 1st quarter valued at approximately $119,854,000. Finally, Readystate Asset Management LP bought a new stake in shares of Atlas Energy Solutions in the 1st quarter valued at approximately $1,459,000. 34.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AESI has been the topic of a number of research analyst reports. Citigroup lowered their price objective on shares of Atlas Energy Solutions from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday. Stephens cut their target price on shares of Atlas Energy Solutions from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Monday, October 5th. Glj Research began coverage on shares of Atlas Energy Solutions in a research report on Wednesday, October 28th. They issued a “buy” rating and a $13.00 target price for the company. Weiss Ratings reissued a “sell (d)” rating on shares of Atlas Energy Solutions in a research note on Wednesday, November 4th. Finally, Royal Bank Of Canada lowered their price target on shares of Atlas Energy Solutions from $16.00 to $13.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 4th. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Atlas Energy Solutions currently has an average rating of “Hold” and an average price target of $15.80.

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.