Insider Buying: Atlas Energy Solutions Inc. (NYSE:AESI) Major Shareholder Acquires 30,013 Shares of Stock

Atlas Energy Solutions Inc. (NYSE:AESI) major shareholder Gregory M. Shepard purchased 30,013 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The stock was bought at an average cost of $19.60 per share, for a total transaction of $588,254.80. Following the completion of the transaction, the insider now owns 7,499,949 shares in the company, valued at $146,999,000.40. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Atlas Energy Solutions Stock Performance

Shares of AESI stock traded up $0.79 during trading hours on Wednesday, reaching $20.21. The company had a trading volume of 543,588 shares, compared to its average volume of 942,983. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.05 and a current ratio of 2.24. The business has a fifty day moving average price of $21.99 and a 200-day moving average price of $20.23. Atlas Energy Solutions Inc. has a one year low of $15.55 and a one year high of $24.93. The firm has a market cap of $2.02 billion, a PE ratio of 10.79, a price-to-earnings-growth ratio of 2.89 and a beta of 0.59.

Atlas Energy Solutions (NYSE:AESI) last posted its earnings results on Monday, May 6th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.12). The company had revenue of $192.67 million during the quarter, compared to the consensus estimate of $196.39 million. Atlas Energy Solutions had a return on equity of 29.56% and a net margin of 19.98%. The company’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same period last year, the firm posted $0.03 EPS. Sell-side analysts predict that Atlas Energy Solutions Inc. will post 2.02 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, May 16th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $0.88 annualized dividend and a dividend yield of 4.35%. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.21. Atlas Energy Solutions’s dividend payout ratio is presently 35.56%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on AESI shares. Benchmark initiated coverage on Atlas Energy Solutions in a report on Thursday, May 23rd. They issued a “buy” rating and a $27.00 target price on the stock. The Goldman Sachs Group upped their price target on shares of Atlas Energy Solutions from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Raymond James raised their price objective on shares of Atlas Energy Solutions from $26.00 to $27.00 and gave the company a “strong-buy” rating in a research note on Tuesday, April 16th. Tudor, Pickering, Holt & Co. assumed coverage on shares of Atlas Energy Solutions in a report on Monday, June 24th. They issued a “buy” rating for the company. Finally, Barclays increased their price target on shares of Atlas Energy Solutions from $23.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $26.00.

Hedge Funds Weigh In On Atlas Energy Solutions

Several institutional investors have recently made changes to their positions in AESI. PNC Financial Services Group Inc. increased its holdings in Atlas Energy Solutions by 1,328.5% during the third quarter. PNC Financial Services Group Inc. now owns 5,571 shares of the company’s stock valued at $124,000 after buying an additional 5,181 shares during the last quarter. Quadrature Capital Ltd raised its holdings in Atlas Energy Solutions by 100.6% in the 3rd quarter. Quadrature Capital Ltd now owns 39,126 shares of the company’s stock worth $870,000 after purchasing an additional 19,621 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in Atlas Energy Solutions by 1,065.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 581,134 shares of the company’s stock worth $12,919,000 after purchasing an additional 531,261 shares during the period. Tucker Asset Management LLC purchased a new position in Atlas Energy Solutions during the third quarter valued at $49,000. Finally, Vanguard Group Inc. grew its holdings in Atlas Energy Solutions by 3.3% during the third quarter. Vanguard Group Inc. now owns 1,633,896 shares of the company’s stock valued at $36,322,000 after purchasing an additional 51,812 shares during the period. Institutional investors 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.