Atlas Energy Solutions Inc. (NYSE:AESI) Major Shareholder Sells $1,175,427.00 in Stock

Atlas Energy Solutions Inc. (NYSE:AESI - Get Free Report) major shareholder Richard W. Schmidt sold 51,150 shares of the business's stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $22.98, for a total transaction of $1,175,427.00. Following the completion of the transaction, the insider now directly owns 1,051,663 shares of the company's stock, valued at approximately $24,167,215.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

Atlas Energy Solutions Trading Down 0.6 %

Shares of Atlas Energy Solutions stock traded down $0.14 during trading hours on Monday, reaching $22.58. The stock had a trading volume of 425,922 shares, compared to its average volume of 758,376. The firm has a 50 day simple moving average of $22.26 and a two-hundred day simple moving average of $19.13. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 12.62, a P/E/G ratio of 2.72 and a beta of 0.66. Atlas Energy Solutions Inc. has a 1 year low of $15.28 and a 1 year high of $24.69. The company has a current ratio of 2.24, a quick ratio of 2.05 and a debt-to-equity ratio of 0.43.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.12). Atlas Energy Solutions had a net margin of 19.98% and a return on equity of 29.56%. The business had revenue of $192.67 million for the quarter, compared to analyst estimates of $196.39 million. During the same period last year, the firm earned $0.03 earnings per share. The company's quarterly revenue was up 25.6% on a year-over-year basis. As a group, equities research analysts anticipate that Atlas Energy Solutions Inc. will post 2.06 earnings per share for the current year.

Atlas Energy Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 16th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.90%. This is a boost from Atlas Energy Solutions's previous quarterly dividend of $0.21. The ex-dividend date is Wednesday, May 15th. Atlas Energy Solutions's dividend payout ratio is 35.56%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Royal Bank of Canada boosted their price target on Atlas Energy Solutions from $23.00 to $25.00 and gave the company an "outperform" rating in a report on Wednesday, February 28th. Barclays increased their target price on Atlas Energy Solutions from $23.00 to $26.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 5th. The Goldman Sachs Group assumed coverage on Atlas Energy Solutions in a report on Thursday, March 14th. They issued a "buy" rating and a $24.00 price target for the company. Finally, Raymond James raised their target price on shares of Atlas Energy Solutions from $26.00 to $27.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, April 16th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Atlas Energy Solutions has a consensus rating of "Buy" and an average target price of $25.17.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Atlas Energy Solutions by 0.7% in the first quarter. Vanguard Group Inc. now owns 4,615,793 shares of the company's stock valued at $104,409,000 after purchasing an additional 33,286 shares during the period. Crown Advisors Management Inc. purchased a new position in Atlas Energy Solutions in the 1st quarter valued at about $2,262,000. Sei Investments Co. grew its stake in shares of Atlas Energy Solutions by 119.0% during the first quarter. Sei Investments Co. now owns 88,106 shares of the company's stock valued at $1,993,000 after acquiring an additional 47,882 shares in the last quarter. Tectonic Advisors LLC grew its stake in shares of Atlas Energy Solutions by 14.4% during the first quarter. Tectonic Advisors LLC now owns 54,646 shares of the company's stock valued at $1,236,000 after acquiring an additional 6,873 shares in the last quarter. Finally, Swiss National Bank acquired a new position in shares of Atlas Energy Solutions in the first quarter worth about $893,000. 34.59% of the stock is owned by hedge funds and other institutional investors.

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.

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