Atlas Energy Solutions Inc. (NYSE:AESI) Major Shareholder Brian Anthony Leveille Sells 10,000 Shares

Atlas Energy Solutions Inc. (NYSE:AESI) major shareholder Brian Anthony Leveille sold 10,000 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $20.50, for a total value of $205,000.00. Following the transaction, the insider now directly owns 542,010 shares in the company, valued at approximately $11,111,205. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Atlas Energy Solutions Stock Performance

Shares of NYSE:AESI traded up $0.39 during trading on Wednesday, hitting $20.37. 1,115,259 shares of the stock were exchanged, compared to its average volume of 875,354. Atlas Energy Solutions Inc. has a 1-year low of $15.55 and a 1-year high of $24.93. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 6.47 and a beta of 0.56. The company’s fifty day simple moving average is $20.94 and its 200-day simple moving average is $21.48. 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) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.18). The firm 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%. Atlas Energy Solutions’s revenue for the quarter was up 77.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.69 EPS. Sell-side analysts expect that Atlas Energy Solutions Inc. will post 1.48 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 4.52%. The ex-dividend date of this dividend was Thursday, August 15th. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.22. Atlas Energy Solutions’s dividend payout ratio (DPR) is 51.11%.

Hedge Funds Weigh In On Atlas Energy Solutions

Hedge funds and other institutional investors have recently modified their holdings of the stock. First Horizon Advisors Inc. lifted its position in shares of 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 buying an additional 1,308 shares during the period. Amalgamated Bank raised its position in 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 purchasing an additional 1,801 shares during the last quarter. CWM LLC boosted its stake in Atlas Energy Solutions by 47.1% in the third quarter. CWM LLC now owns 2,766 shares of the company’s stock worth $60,000 after purchasing an additional 886 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Atlas Energy Solutions during the second quarter worth $74,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Atlas Energy Solutions in the first quarter valued at $78,000. Institutional investors own 34.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Stephens reissued an “overweight” rating and set a $28.00 price objective on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Bank of America lowered their target price on Atlas Energy Solutions from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Royal Bank of Canada lowered their target price on Atlas Energy Solutions from $26.00 to $25.00 and set an “outperform” rating on the stock in a 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 on the stock in a report on Wednesday. Finally, Benchmark reaffirmed a “buy” rating and issued a $27.00 target price on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Eight research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $25.75.

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.