Insider Selling: Atlas Energy Solutions Inc. (NYSE:AESI) Major Shareholder Sells $115,000.00 in Stock

Atlas Energy Solutions Inc. (NYSE:AESI) major shareholder Brian Anthony Leveille sold 5,000 shares of Atlas Energy Solutions stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $23.00, for a total value of $115,000.00. Following the sale, the insider now owns 404,510 shares in the company, valued at $9,303,730. This represents a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Brian Anthony Leveille also recently made the following trade(s):

• On Monday, December 16th, Brian Anthony Leveille sold 5,000 shares of Atlas Energy Solutions stock. The shares were sold at an average price of $23.17, for a total transaction of $115,850.00.
• On Tuesday, December 3rd, Brian Anthony Leveille sold 12,500 shares of Atlas Energy Solutions stock. The stock was sold at an average price of $23.95, for a total transaction of $299,375.00.
• On Monday, November 25th, Brian Anthony Leveille sold 30,000 shares of Atlas Energy Solutions stock. The stock was sold at an average price of $24.02, for a total transaction of $720,600.00.
• On Thursday, November 21st, Brian Anthony Leveille sold 10,000 shares of Atlas Energy Solutions stock. The shares were sold at an average price of $21.50, for a total transaction of $215,000.00.
• On Monday, November 18th, Brian Anthony Leveille sold 10,000 shares of Atlas Energy Solutions stock. The stock was sold at an average price of $20.70, for a total value of $207,000.00.
• On Wednesday, November 6th, Brian Anthony Leveille sold 20,000 shares of Atlas Energy Solutions stock. The shares were sold at an average price of $21.39, for a total value of $427,800.00.
• On Tuesday, October 29th, Brian Anthony Leveille sold 10,000 shares of Atlas Energy Solutions stock. The stock was sold at an average price of $21.02, for a total value of $210,200.00.
• On Monday, October 14th, Brian Anthony Leveille sold 10,000 shares of Atlas Energy Solutions stock. The stock was sold at an average price of $20.50, for a total transaction of $205,000.00.

Atlas Energy Solutions Trading Down 2.1 %

Atlas Energy Solutions stock opened at $21.94 on Thursday. The business has a 50-day simple moving average of $22.05 and a two-hundred day simple moving average of $21.13. Atlas Energy Solutions Inc. has a 52-week low of $15.55 and a 52-week high of $24.93. The company has a quick ratio of 1.08, a current ratio of 1.23 and a debt-to-equity ratio of 0.42. The company has a market cap of $2.42 billion, a P/E ratio of 27.77, a P/E/G ratio of 11.53 and a beta of 1.03.

Atlas Energy Solutions (NYSE:AESI) last announced its earnings results on Monday, October 28th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.25). Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The business had revenue of $304.40 million for the quarter, compared to analysts’ expectations of $307.93 million. The firm’s quarterly revenue was up 93.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.51 earnings per share. Analysts predict that Atlas Energy Solutions Inc. will post 0.88 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were issued a $0.24 dividend. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date of this dividend was Thursday, November 7th. Atlas Energy Solutions’s dividend payout ratio (DPR) is currently 121.52%.

Analysts Set New Price Targets

Several brokerages have issued reports on AESI. Raymond James cut shares of Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $25.00 price objective on shares of Atlas Energy Solutions in a research report on Wednesday, October 30th. Citigroup cut Atlas Energy Solutions from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $23.00 to $22.00 in a research note on Thursday, November 14th. Barclays cut Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $23.00 to $19.00 in a research report on Tuesday, November 12th. Finally, The Goldman Sachs Group started coverage on Atlas Energy Solutions in a research report on Friday, December 13th. They issued a “neutral” rating and a $23.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $24.67.

Institutional Trading of Atlas Energy Solutions

Several hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its position in shares of Atlas Energy Solutions by 58.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 530,197 shares of the company’s stock valued at $10,567,000 after buying an additional 195,772 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Atlas Energy Solutions during the second quarter valued at approximately $74,000. Rhumbline Advisers lifted its holdings in Atlas Energy Solutions by 230.1% during the second quarter. Rhumbline Advisers now owns 84,612 shares of the company’s stock valued at $1,686,000 after purchasing an additional 58,981 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Atlas Energy Solutions by 13.9% in the second quarter. Victory Capital Management Inc. now owns 1,622,241 shares of the company’s stock worth $32,331,000 after purchasing an additional 197,783 shares during the period. Finally, Arizona State Retirement System purchased a new stake in shares of Atlas Energy Solutions in the second quarter worth $215,000. Institutional investors own 34.59% of the company’s stock.

Atlas Energy Solutions Company Profile

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.