Insider Buying: Atlas Energy Solutions Inc. (NYSE:AESI) Major Shareholder Purchases 8,062 Shares of Stock

Atlas Energy Solutions Inc. (NYSE:AESI) major shareholder Gregory M. Shepard purchased 8,062 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were purchased at an average cost of $19.84 per share, with a total value of $159,950.08. Following the completion of the acquisition, the insider now directly owns 7,515,256 shares in the company, valued at $149,102,679.04. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Atlas Energy Solutions Trading Up 2.0 %

AESI opened at $20.02 on Friday. The firm has a 50 day simple moving average of $21.00 and a 200 day simple moving average of $21.32. Atlas Energy Solutions Inc. has a fifty-two week low of $15.55 and a fifty-two week high of $24.93. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 11.12, a price-to-earnings-growth ratio of 6.47 and a beta of 0.56. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.53 and a quick ratio of 1.35.

Atlas Energy Solutions (NYSE:AESI) last issued its earnings results on Monday, August 5th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.18). Atlas Energy Solutions had a net margin of 13.71% and a return on equity of 16.75%. The business had revenue of $287.52 million for the quarter, compared to the consensus estimate of $270.55 million. During the same quarter in the previous year, the firm posted $0.69 EPS. The business’s revenue was up 77.7% on a year-over-year basis. On average, sell-side analysts anticipate that Atlas Energy Solutions Inc. will post 1.48 earnings per share for the current year.

Atlas Energy Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.92 dividend on an annualized basis and a yield of 4.60%. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.22. Atlas Energy Solutions’s dividend payout ratio (DPR) is 51.11%.

Institutional Trading of Atlas Energy Solutions

Institutional investors and hedge funds have recently modified their holdings of the stock. First Horizon Advisors Inc. boosted its stake in 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 during the last quarter. Amalgamated Bank increased its position in shares of Atlas Energy Solutions by 328.1% in the 2nd quarter. Amalgamated Bank now owns 2,350 shares of the company’s stock valued at $47,000 after buying an additional 1,801 shares in the last quarter. CWM LLC raised its stake in Atlas Energy Solutions by 47.1% during the 3rd quarter. CWM LLC now owns 2,766 shares of the company’s stock worth $60,000 after buying an additional 886 shares during the period. DekaBank Deutsche Girozentrale bought a new position in Atlas Energy Solutions during the first quarter worth about $78,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Atlas Energy Solutions in the second quarter valued at about $74,000. 34.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Royal Bank of Canada decreased their price target on Atlas Energy Solutions from $26.00 to $25.00 and set an “outperform” rating on the stock in a research report on Friday, October 11th. Barclays lowered their target price on Atlas Energy Solutions from $26.00 to $23.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. The Goldman Sachs Group reduced their price target on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Benchmark restated a “buy” rating and issued a $27.00 price objective on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. Finally, Stephens reissued an “overweight” rating and set a $28.00 price target on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. Eight research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $25.75.

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.