Atlas Energy Solutions (NYSE:AESI) Stock: Insider Gregory Shepard Sells 190,500 Shares

Atlas Energy Solutions Inc. (NYSE:AESI) insider Gregory Shepard sold 190,500 shares of the stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $5.16, for a total transaction of $982,980.00. Following the completion of the transaction, the insider directly owned 6,530,710 shares of the company’s stock, valued at $33,698,463.60. This trade represents a 2.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Atlas Energy Solutions Price Performance

NYSE AESI traded down $0.20 during trading on Tuesday, reaching $5.34. 4,680,033 shares of the company traded hands, compared to its average volume of 5,063,164. Atlas Energy Solutions Inc. has a 1-year low of $5.08 and a 1-year high of $20.13. The company has a market cap of $667.50 million, a price-to-earnings ratio of -4.77 and a beta of 1.29. The stock’s 50 day moving average price is $10.99 and its two-hundred day moving average price is $13.20. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.99 and a current ratio of 1.22.

Atlas Energy Solutions (NYSE:AESI) last issued its 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 during the quarter, compared to analyst estimates of $265.32 million. Atlas Energy Solutions had a negative return on equity of 12.38% and a negative net margin of 12.98%. The company’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.19) earnings per share. As a group, analysts anticipate that Atlas Energy Solutions Inc. will post -0.95 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AESI. Piper Sandler dropped their target price on shares of Atlas Energy Solutions from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, November 4th. Glj Research initiated coverage on shares of Atlas Energy Solutions in a report on Wednesday, October 28th. They set a “buy” rating and a $13.00 price objective for the company. Citigroup reduced their target price on Atlas Energy Solutions from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, September 3rd. Scotiabank increased their price target on Atlas Energy Solutions from $17.00 to $18.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, November 4th. Finally, Zacks Research cut Atlas Energy Solutions from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 20th. 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $16.50.

Institutional Investors Weigh In On Atlas Energy Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Encompass Capital Advisors LLC bought a new position in shares of Atlas Energy Solutions in the first quarter worth about $119,854,000. Wasatch Advisors LP acquired a new stake in shares of Atlas Energy Solutions in the second quarter valued at approximately $30,468,000. Dimensional Fund Advisors LP raised its position in Atlas Energy Solutions by 12.6% in 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 during the last quarter. 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 bought a new position in Atlas Energy Solutions in the 3rd quarter valued at $9,992,000. Institutional investors and hedge funds own 34.59% of the company’s stock.

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.