Atlas Energy Solutions (NYSE:AESI) Shares Gap Up Following Insider Buying Activity

Atlas Energy Solutions Inc. (NYSE:AESI - Get Free Report) gapped up before the market opened on Tuesday after an insider bought additional shares in the company. The stock had previously closed at $20.02, but opened at $20.88. Atlas Energy Solutions shares last traded at $21.17, with a volume of 267,565 shares changing hands.

Specifically, major shareholder Gregory M. Shepard acquired 23,300 shares of the business's stock in a transaction on Thursday, October 24th. The stock was bought at an average price of $19.55 per share, with a total value of $455,515.00. Following the completion of the acquisition, the insider now owns 7,540,306 shares of the company's stock, valued at approximately $147,412,982.30. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Gregory M. Shepard purchased 8,062 shares of Atlas Energy Solutions stock in a transaction that occurred on Monday, October 21st. The stock was acquired at an average cost of $19.84 per share, with a total value of $159,950.08. Following the acquisition, the insider now directly owns 7,515,256 shares in the company, valued at $149,102,679.04. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Bank of America dropped their target price on shares of Atlas Energy Solutions from $25.00 to $24.00 and set a "buy" rating on the stock in a research report on Monday, July 15th. Barclays cut their price objective 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. Royal Bank of Canada lowered their price target on Atlas Energy Solutions from $26.00 to $25.00 and set an "outperform" rating on the stock in a research note on Friday, October 11th. Benchmark reissued a "buy" rating and issued a $27.00 price objective on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. Finally, Piper Sandler decreased their price objective on Atlas Energy Solutions from $29.00 to $27.00 and set an "overweight" rating on the stock in a report on Monday, July 15th. Eight research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $25.75.

Atlas Energy Solutions Trading Up 1.7 %

The company has a 50 day moving average of $21.00 and a 200-day moving average of $21.24. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of 11.31, 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 quick ratio of 1.35 and a current ratio of 1.53.

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

Atlas Energy Solutions Announces Dividend

The firm also recently declared a dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th will be given a $0.24 dividend. The ex-dividend date of this dividend is Thursday, November 7th. Atlas Energy Solutions's dividend payout ratio is presently 51.11%.

Institutional Trading of Atlas Energy Solutions

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Atlas Energy Solutions by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 4,615,793 shares of the company's stock worth $104,409,000 after purchasing an additional 33,286 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Atlas Energy Solutions by 1.1% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,696,418 shares of the company's stock worth $53,740,000 after buying an additional 30,082 shares in the last quarter. Meridian Wealth Advisors LLC increased its stake in shares of Atlas Energy Solutions by 25.8% during the second quarter. Meridian Wealth Advisors LLC now owns 2,677,490 shares of the company's stock worth $53,362,000 after buying an additional 548,620 shares during the period. Janus Henderson Group PLC raised its holdings in Atlas Energy Solutions by 26.9% in the first quarter. Janus Henderson Group PLC now owns 2,537,215 shares of the company's stock valued at $57,392,000 after acquiring an additional 537,927 shares in the last quarter. Finally, Whitebox Advisors LLC purchased a new position in Atlas Energy Solutions in the first quarter worth approximately $49,712,000. Hedge funds and other institutional investors own 34.59% of the company's stock.

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.