Insider Selling: Atlas Energy Solutions Inc. (NYSE:AESI) Major Shareholder Sells 10,000 Shares of Stock

Atlas Energy Solutions Inc. (NYSE:AESI) major shareholder Stacy Hock sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $22.50, for a total transaction of $225,000.00. Following the sale, the insider now owns 897,604 shares of the company’s stock, valued at approximately $20,196,090. The trade was a 1.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Stacy Hock also recently made the following trade(s):

• On Friday, January 10th, Stacy Hock sold 10,000 shares of Atlas Energy Solutions stock. The stock was sold at an average price of $21.96, for a total transaction of $219,600.00.
• On Wednesday, December 18th, Stacy Hock sold 8,571 shares of Atlas Energy Solutions stock. The stock was sold at an average price of $22.55, for a total transaction of $193,276.05.
• On Wednesday, November 13th, Stacy Hock sold 8,571 shares of Atlas Energy Solutions stock. The stock was sold at an average price of $21.12, for a total transaction of $181,019.52.

Atlas Energy Solutions Stock Down 2.5 %

Shares of NYSE:AESI opened at $21.84 on Thursday. Atlas Energy Solutions Inc. has a one year low of $16.78 and a one year high of $26.86. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.08. The company has a market cap of $2.41 billion, a price-to-earnings ratio of 27.64, a PEG ratio of 6.82 and a beta of 1.03. The firm has a fifty day moving average price of $22.95 and a two-hundred day moving average price of $21.56.

Institutional Trading of Atlas Energy Solutions

A number of hedge funds have recently made changes to their positions in the stock. Copeland Capital Management LLC lifted its holdings in shares of Atlas Energy Solutions by 19.3% during the 4th quarter. Copeland Capital Management LLC now owns 2,247,774 shares of the company’s stock worth $49,856,000 after acquiring an additional 363,742 shares during the last quarter. State Street Corp lifted its holdings in shares of Atlas Energy Solutions by 15.0% during the 3rd quarter. State Street Corp now owns 1,751,059 shares of the company’s stock worth $38,173,000 after acquiring an additional 227,776 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Atlas Energy Solutions by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,448,340 shares of the company’s stock worth $31,579,000 after acquiring an additional 54,321 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Atlas Energy Solutions by 75.5% during the 4th quarter. Bank of New York Mellon Corp now owns 835,683 shares of the company’s stock worth $18,535,000 after acquiring an additional 359,420 shares during the last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of Atlas Energy Solutions during the 3rd quarter worth $17,314,000. 34.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on AESI shares. Royal Bank of Canada raised their price objective on shares of Atlas Energy Solutions from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. The Goldman Sachs Group started coverage on shares of Atlas Energy Solutions in a report on Friday, December 13th. They issued a “neutral” rating and a $23.00 price objective for the company. Stephens raised their price objective on shares of Atlas Energy Solutions from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. Bank of America reaffirmed a “neutral” rating and issued a $22.50 price objective on shares of Atlas Energy Solutions in a report on Monday, January 13th. Finally, Citigroup downgraded shares of Atlas Energy Solutions from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $23.00 to $22.00 in a report on Thursday, November 14th. Six equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Atlas Energy Solutions currently has an average rating of “Moderate Buy” and an average price target of $25.50.

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.