Atlas Energy Solutions Inc. (NYSE:AESI) Major Shareholder Sells $427,800.00 in Stock

Atlas Energy Solutions Inc. (NYSE:AESI - Get Free Report) major shareholder Brian Anthony Leveille sold 20,000 shares of Atlas Energy Solutions stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $21.39, for a total value of $427,800.00. Following the sale, the insider now directly owns 512,010 shares of the company's stock, valued at $10,951,893.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a 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 transactions with the SEC.

Brian Anthony Leveille also recently made the following trade(s):

• On Tuesday, October 29th, Brian Anthony Leveille sold 10,000 shares of Atlas Energy Solutions stock. The shares were sold at an average price of $21.02, for a total value of $210,200.00.
• On Monday, October 14th, Brian Anthony Leveille sold 10,000 shares of Atlas Energy Solutions stock. The shares were sold at an average price of $20.50, for a total transaction of $205,000.00.

Atlas Energy Solutions Stock Performance

Shares of AESI traded up $0.03 during midday trading on Friday, reaching $20.63. 860,256 shares of the stock were exchanged, compared to its average volume of 893,638. The stock's 50 day simple moving average is $20.89 and its 200 day simple moving average is $21.15. The company has a market cap of $2.27 billion, a P/E ratio of 26.13, a PEG ratio of 11.04 and a beta of 0.69. The company has a quick ratio of 1.08, a current ratio of 1.23 and a debt-to-equity ratio of 0.42. Atlas Energy Solutions Inc. has a twelve month low of $15.55 and a twelve month high of $24.93.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $307.93 million. Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The firm's revenue for the quarter was up 93.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.51 EPS. On average, sell-side analysts expect that Atlas Energy Solutions Inc. will post 0.8 earnings per share for the current year.

Atlas Energy Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This is an increase from Atlas Energy Solutions's previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 4.65%. Atlas Energy Solutions's payout ratio is currently 116.46%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on AESI shares. The Goldman Sachs Group cut Atlas Energy Solutions from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $23.00 to $21.00 in a research report on Thursday. Benchmark reaffirmed a "buy" rating and set a $27.00 price objective on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. Piper Sandler decreased their price objective on shares of Atlas Energy Solutions from $29.00 to $27.00 and set an "overweight" rating on the stock in a research note on Monday, July 15th. Barclays lowered their price target on Atlas Energy Solutions from $26.00 to $23.00 and set an "overweight" rating for the company in a report on Wednesday, October 16th. Finally, Pickering Energy Partners downgraded Atlas Energy Solutions from an "outperform" rating to a "neutral" rating in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Atlas Energy Solutions presently has a consensus rating of "Buy" and a consensus target price of $25.25.

Hedge Funds Weigh In On Atlas Energy Solutions

Large investors have recently made changes to their positions in the company. Quest Partners LLC acquired a new position in shares of Atlas Energy Solutions during the 3rd quarter worth about $48,000. Principal Financial Group Inc. purchased a new stake in Atlas Energy Solutions during the third quarter worth approximately $844,000. Emerald Advisers LLC increased its position in shares of Atlas Energy Solutions by 28.4% during the third quarter. Emerald Advisers LLC now owns 10,850 shares of the company's stock worth $237,000 after acquiring an additional 2,400 shares during the last quarter. Modera Wealth Management LLC bought a new stake in shares of Atlas Energy Solutions in the 3rd quarter valued at approximately $322,000. Finally, Tectonic Advisors LLC boosted its stake in Atlas Energy Solutions by 7.5% during the 3rd quarter. Tectonic Advisors LLC now owns 59,725 shares of the company's stock valued at $1,302,000 after purchasing an additional 4,187 shares during the period. 34.59% of the stock is currently owned by institutional investors and hedge funds.

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.