Atlas Energy Solutions Inc. (NYSE:AESI) Major Shareholder Purchases $455,515.00 in Stock

Atlas Energy Solutions Inc. (NYSE:AESI) major shareholder Gregory M. Shepard acquired 23,300 shares of Atlas Energy Solutions stock in a transaction that occurred on Thursday, October 24th. The shares were bought at an average price of $19.55 per share, with a total value of $455,515.00. Following the transaction, the insider now directly owns 7,540,306 shares in the company, valued at approximately $147,412,982.30. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large 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 Down 2.7 %

AESI opened at $19.82 on Thursday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.35 and a current ratio of 1.53. The company has a market capitalization of $2.18 billion, a PE ratio of 25.09, a P/E/G ratio of 6.47 and a beta of 0.56. The stock’s fifty day moving average is $21.00 and its 200-day moving average is $21.24. Atlas Energy Solutions Inc. has a one year low of $15.55 and a one year high of $24.93.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.25). The business had revenue of $304.40 million during the quarter, compared to the consensus estimate of $307.93 million. Atlas Energy Solutions had a return on equity of 16.75% and a net margin of 13.71%. Atlas Energy Solutions’s revenue was up 93.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.51 earnings per share. On average, equities analysts predict that Atlas Energy Solutions Inc. will post 1.48 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, November 7th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.84%. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, November 7th. Atlas Energy Solutions’s dividend payout ratio (DPR) is presently 116.46%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AESI shares. Bank of America reduced their price target on shares of Atlas Energy Solutions from $25.00 to $24.00 and set a “buy” rating for the company in a report on Monday, July 15th. Pickering Energy Partners cut shares of Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research report on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $25.00 price target on shares of Atlas Energy Solutions in a report on Wednesday. Piper Sandler reduced their price objective on Atlas Energy Solutions from $29.00 to $27.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Finally, Benchmark restated a “buy” rating and issued a $27.00 target price on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. One research 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 data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $25.75.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. boosted its stake in shares of Atlas Energy Solutions by 313.7% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,725 shares of the company’s stock worth $34,000 after acquiring an additional 1,308 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Atlas Energy Solutions by 328.1% during the second quarter. Amalgamated Bank now owns 2,350 shares of the company’s stock valued at $47,000 after purchasing an additional 1,801 shares during the last quarter. CWM LLC boosted its position in shares of Atlas Energy Solutions by 47.1% in the 3rd quarter. CWM LLC now owns 2,766 shares of the company’s stock valued at $60,000 after purchasing an additional 886 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in Atlas Energy Solutions in the 1st quarter worth about $78,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Atlas Energy Solutions during the 2nd quarter worth about $74,000. Institutional investors and hedge funds 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.