Atlas Energy Solutions Inc. (NYSE:AESI) Major Shareholder Stacy Hock Sells 8,571 Shares of Stock

Atlas Energy Solutions Inc. (NYSE:AESI) major shareholder Stacy Hock sold 8,571 shares of Atlas Energy Solutions stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $20.22, for a total transaction of $173,305.62. Following the transaction, the insider now directly owns 951,888 shares in the company, valued at $19,247,175.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Tuesday, July 9th, Stacy Hock sold 8,571 shares of Atlas Energy Solutions stock. The stock was sold at an average price of $19.89, for a total transaction of $170,477.19.
• On Monday, June 24th, Stacy Hock sold 8,574 shares of Atlas Energy Solutions stock. The shares were sold at an average price of $19.76, for a total value of $169,422.24.

Atlas Energy Solutions Stock Performance

Shares of AESI stock opened at $19.99 on Wednesday. The stock has a market capitalization of $2.00 billion, a PE ratio of 11.11, a P/E/G ratio of 4.88 and a beta of 0.56. The firm has a 50 day moving average of $20.18 and a two-hundred day moving average of $21.04. Atlas Energy Solutions Inc. has a 52 week low of $15.55 and a 52 week high of $24.93. The company has a quick ratio of 2.05, a current ratio of 2.24 and a debt-to-equity ratio of 0.43.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings data 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). Atlas Energy Solutions had a net margin of 19.98% and a return on equity of 29.56%. The company had revenue of $287.52 million during the quarter, compared to analysts’ expectations of $270.55 million. During the same quarter in the previous year, the business posted $0.69 EPS. The business’s quarterly revenue was up 77.7% compared to the same quarter last year. On average, research analysts predict that Atlas Energy Solutions Inc. will post 1.86 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th will be given a $0.23 dividend. The ex-dividend date is Thursday, August 15th. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.60%. Atlas Energy Solutions’s dividend payout ratio is currently 51.11%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Tudor Pickering upgraded Atlas Energy Solutions to a “strong-buy” rating in a research report on Monday, June 24th. The Goldman Sachs Group raised their price objective on Atlas Energy Solutions from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Tudor, Pickering, Holt & Co. initiated coverage on shares of Atlas Energy Solutions in a research report on Monday, June 24th. They issued a “buy” rating on the stock. Royal Bank of Canada dropped their price target on shares of Atlas Energy Solutions from $27.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Finally, Bank of America reduced their price target on shares of Atlas Energy Solutions from $25.00 to $24.00 and set a “buy” rating on the stock in a research note 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $26.63.

Institutional Investors Weigh In On Atlas Energy Solutions

A number of hedge funds and other institutional investors have recently modified their holdings of AESI. First Horizon Advisors Inc. increased its holdings in Atlas Energy Solutions by 313.7% in the second quarter. First Horizon Advisors Inc. now owns 1,725 shares of the company’s stock valued at $34,000 after buying an additional 1,308 shares during the last quarter. Amalgamated Bank increased its holdings in shares of 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 acquiring an additional 1,801 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Atlas Energy Solutions during the 1st quarter worth about $78,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Atlas Energy Solutions during the second quarter worth approximately $74,000. Finally, nVerses Capital LLC acquired a new position in Atlas Energy Solutions in the second quarter valued at approximately $106,000. 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.