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

Key Points

• Insider Gregory Shepard sold 500,000 Atlas Energy Solutions shares at an average of $5.32, for $2.66 million. He retained 6,921,210 shares after the sale.
• AESI shares traded at $5.34, down 3.6% in the session, and near their 52-week low of $5.08. The stock has fallen well below its 50-day and 200-day moving averages.
• The company’s latest quarterly loss was wider than analysts expected, though revenue topped estimates and rose 3.1% year over year. Analysts’ consensus rating is “Hold,” with an average price target of $16.50.

Atlas Energy Solutions Inc. (NYSE:AESI - Get Free Report) insider Gregory Shepard sold 500,000 shares of the firm's stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $5.32, for a total value of $2,660,000.00. Following the sale, the insider directly owned 6,921,210 shares in the company, valued at $36,820,837.20. This trade represents a 6.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Atlas Energy Solutions Stock Down 3.6%

AESI stock traded down $0.20 during trading on Tuesday, hitting $5.34. 4,680,033 shares of the company's stock were exchanged, compared to its average volume of 5,063,164. The business has a 50-day moving average price of $10.99 and a two-hundred day moving average price of $13.20. The company has a current ratio of 1.22, a quick ratio of 0.99 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $667.50 million, a price-to-earnings ratio of -4.77 and a beta of 1.29. Atlas Energy Solutions Inc. has a 52-week low of $5.08 and a 52-week high of $20.13.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last announced 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). The company had revenue of $267.78 million during the quarter, compared to analysts' expectations of $265.32 million. Atlas Energy Solutions had a negative net margin of 12.98% and a negative return on equity of 12.38%. The business's revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.19) earnings per share. As a group, equities research analysts expect that Atlas Energy Solutions Inc. will post -0.95 EPS for the current year.

Institutional Trading of Atlas Energy Solutions

Several institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its stake in Atlas Energy Solutions by 12.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,502,480 shares of the company's stock valued at $19,713,000 after purchasing an additional 167,758 shares during the period. CenterBook Partners LP raised its holdings in shares of Atlas Energy Solutions by 84.8% in the third quarter. CenterBook Partners LP now owns 1,180,943 shares of the company's stock valued at $14,183,000 after buying an additional 541,774 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Atlas Energy Solutions in the second quarter valued at about $7,765,000. Encompass Capital Advisors LLC acquired a new stake in shares of Atlas Energy Solutions during the first quarter worth about $119,854,000. Finally, Readystate Asset Management LP acquired a new stake in shares of Atlas Energy Solutions during the first quarter worth about $1,459,000. Hedge funds and other institutional investors own 34.59% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on AESI. Zacks Research lowered shares of Atlas Energy Solutions from a "hold" rating to a "strong sell" rating in a research note on Tuesday, October 20th. The Goldman Sachs Group set a $12.00 price objective on shares of Atlas Energy Solutions in a research note on Friday, August 7th. Royal Bank Of Canada decreased their target price on Atlas Energy Solutions from $16.00 to $13.00 and set a "sector perform" rating for the company in a research report on Wednesday, November 4th. Piper Sandler dropped their price target on Atlas Energy Solutions from $15.00 to $13.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 4th. Finally, Glj Research started coverage on Atlas Energy Solutions in a research note on Wednesday, October 28th. They set a "buy" rating and a $13.00 price target on the stock. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $16.50.

Atlas Energy Solutions Company Profile

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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