Insider Buying: Atlas Energy Solutions Inc. (NYSE:AESI) Major Shareholder Purchases 13,363 Shares of Stock

Atlas Energy Solutions Inc. (NYSE:AESI) major shareholder Gregory M. Shepard acquired 13,363 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were acquired at an average price of $19.19 per share, for a total transaction of $256,435.97. Following the acquisition, the insider now directly owns 7,619,055 shares in the company, valued at $146,209,665.45. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Atlas Energy Solutions Stock Performance

AESI traded up $1.33 during trading hours on Wednesday, reaching $21.51. The company’s stock had a trading volume of 1,616,959 shares, compared to its average volume of 888,627. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.23. The firm has a market cap of $2.36 billion, a PE ratio of 25.55, a price-to-earnings-growth ratio of 10.60 and a beta of 0.69. The company’s 50-day moving average is $20.89 and its 200-day moving average is $21.15. Atlas Energy Solutions Inc. has a 52 week low of $15.55 and a 52 week high of $24.93.

Atlas Energy Solutions (NYSE:AESI) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.25). The firm had revenue of $304.40 million for the quarter, compared to the consensus estimate of $307.93 million. Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The firm’s quarterly revenue was up 93.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.51 EPS. On average, equities analysts forecast that Atlas Energy Solutions Inc. will post 0.8 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th will be given a dividend of $0.24 per share. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.96 annualized dividend and a yield of 4.46%. Atlas Energy Solutions’s dividend payout ratio (DPR) is presently 116.46%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Benchmark reiterated a “buy” rating and set a $27.00 price objective on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. Piper Sandler dropped their price objective on Atlas Energy Solutions from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Pickering Energy Partners cut Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research note on Wednesday, October 30th. Barclays dropped their price objective on Atlas Energy Solutions from $26.00 to $23.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group dropped their price objective on Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $25.75.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AESI. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Atlas Energy Solutions during the first quarter valued at about $307,000. BNP Paribas Financial Markets acquired a new position in shares of Atlas Energy Solutions in the first quarter worth approximately $202,000. Central Pacific Bank Trust Division acquired a new position in shares of Atlas Energy Solutions in the first quarter worth approximately $396,000. Quantbot Technologies LP acquired a new position in shares of Atlas Energy Solutions in the first quarter worth approximately $592,000. Finally, Mesirow Institutional Investment Management Inc. purchased a new position in shares of Atlas Energy Solutions during the first quarter valued at approximately $9,254,000. Institutional investors 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.