Atlas Energy Solutions (NYSE:AESI) Insider Gregory Shepard Sells 500,000 Shares of Stock

Atlas Energy Solutions Inc. (NYSE:AESI) insider Gregory Shepard sold 500,000 shares of the stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $5.32, for a total transaction of $2,660,000.00. Following the completion of the sale, the insider directly owned 6,921,210 shares of the company’s stock, valued at approximately $36,820,837.20. This trade represents a 6.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Atlas Energy Solutions Stock Down 3.6%

Shares of NYSE AESI opened at $5.34 on Wednesday. The company has a 50 day simple moving average of $10.99 and a 200-day simple moving average of $13.20. The company has a market capitalization of $667.50 million, a P/E 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. Atlas Energy Solutions Inc. has a 1 year low of $5.08 and a 1 year high of $20.13.

Atlas Energy Solutions (NYSE:AESI) last released its quarterly earnings results on Monday, November 2nd. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.12). Atlas Energy Solutions had a negative net margin of 12.98% and a negative return on equity of 12.38%. The firm had revenue of $267.78 million for the quarter, compared to analysts’ expectations of $265.32 million. During the same period in the previous year, the firm posted ($0.19) EPS. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. On average, equities research analysts predict that Atlas Energy Solutions Inc. will post -0.95 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on AESI shares. Citigroup decreased their price target 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. Weiss Ratings reiterated a “sell (d)” rating on shares of Atlas Energy Solutions in a report on Wednesday, November 4th. Barclays cut their price objective on Atlas Energy Solutions from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Thursday, October 15th. Stifel Nicolaus cut their price objective on Atlas Energy Solutions from $25.00 to $21.00 and set a “buy” rating for the company in a research report on Monday. Finally, Glj Research began coverage on shares of Atlas Energy Solutions in a report on Wednesday, October 28th. They issued a “buy” rating and a $13.00 price objective on the stock. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Atlas Energy Solutions has an average rating of “Hold” and a consensus target price of $16.50.

Institutional Trading of Atlas Energy Solutions

Several hedge funds have recently made changes to their positions in AESI. Encompass Capital Advisors LLC purchased a new position in shares of Atlas Energy Solutions in the first quarter valued at approximately $119,854,000. Wasatch Advisors LP purchased a new stake in Atlas Energy Solutions during the 2nd quarter worth approximately $30,468,000. Dimensional Fund Advisors LP increased its stake in 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 buying an additional 167,758 shares during the period. CenterBook Partners LP lifted its holdings in Atlas Energy Solutions by 84.8% during the 3rd quarter. CenterBook Partners LP now owns 1,180,943 shares of the company’s stock worth $14,183,000 after buying an additional 541,774 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new stake in Atlas Energy Solutions during the 3rd quarter worth approximately $9,992,000. Institutional investors and hedge funds own 34.59% of the company’s stock.

More Atlas Energy Solutions News

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.