Atlas Energy Solutions (NYSE:AESI) Insider Sells 190,500 Shares of Company Stock

Key Points

• Insider Gregory Shepard sold 190,500 Atlas Energy Solutions shares at an average price of $5.16, totaling about $983,000. He retained 6.53 million shares after the sale.
• AESI shares traded at $5.34, near their 52-week low of $5.08, and were down 3.6% in the session. The company’s latest quarterly loss per share was $0.36, worse than analysts’ $0.24 loss estimate, although revenue rose 3.1% year over year.
• Analysts have a consensus “Hold” rating and an average price target of $16.50; ratings are split among six Buys, three Holds, and three Sells.

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

Atlas Energy Solutions Trading Down 3.6%

Shares of AESI traded down $0.20 during midday trading on Tuesday, hitting $5.34. The stock had a trading volume of 4,680,033 shares, compared to its average volume of 5,063,164. Atlas Energy Solutions Inc. has a fifty-two week low of $5.08 and a fifty-two week high of $20.13. The business has a 50-day simple moving average of $10.99 and a two-hundred day simple moving average of $13.20. The firm has a market cap of $667.50 million, a P/E ratio of -4.77 and a beta of 1.29. The company has a current ratio of 1.22, a quick ratio of 0.99 and a debt-to-equity ratio of 0.92.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last released its earnings results on Monday, November 2nd. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.12). Atlas Energy Solutions had a negative return on equity of 12.38% and a negative net margin of 12.98%. The firm had revenue of $267.78 million during the quarter, compared to analysts' expectations of $265.32 million. During the same period last year, the business earned ($0.19) earnings per share. The business's revenue was up 3.1% on a year-over-year basis. As a group, equities analysts forecast that Atlas Energy Solutions Inc. will post -0.95 EPS for the current year.

Analyst Ratings Changes

AESI has been the topic of a number of research analyst reports. Barclays lowered their price target on Atlas Energy Solutions from $14.00 to $13.00 and set an "equal weight" rating on the stock in a report on Thursday, October 15th. The Goldman Sachs Group set a $12.00 price target on shares of Atlas Energy Solutions in a report on Friday, August 7th. Weiss Ratings reiterated a "sell (d)" rating on shares of Atlas Energy Solutions in a report on Wednesday, November 4th. Stephens lowered their target price on shares of Atlas Energy Solutions from $22.00 to $20.00 and set an "overweight" rating on the stock in a research report on Monday, October 5th. Finally, Citigroup reduced their price target on Atlas Energy Solutions from $21.00 to $17.00 and set a "buy" rating for the company in a research report on Thursday, September 3rd. 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's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $16.50.

Hedge Funds Weigh In On Atlas Energy Solutions

Several large investors have recently added to or reduced their stakes in the company. Encompass Capital Advisors LLC acquired a new position in shares of Atlas Energy Solutions in the first quarter valued at $119,854,000. Wasatch Advisors LP acquired a new stake in Atlas Energy Solutions during the second quarter worth $30,468,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new stake in Atlas Energy Solutions during the third quarter worth $9,992,000. CenterBook Partners LP boosted its stake in Atlas Energy Solutions by 84.8% during the third 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, Bank of New York Mellon Corp bought a new stake in Atlas Energy Solutions in the 2nd quarter valued at $7,765,000. 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.

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