Gregory M. Shepard Purchases 14,347 Shares of Atlas Energy Solutions Inc. (NYSE:AESI) Stock

Atlas Energy Solutions Inc. (NYSE:AESI) major shareholder Gregory M. Shepard bought 14,347 shares of the stock in a transaction on Thursday, October 31st. The stock was purchased at an average price of $19.57 per share, with a total value of $280,770.79. Following the completion of the purchase, the insider now owns 7,554,653 shares of the company’s stock, valued at $147,844,559.21. 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 this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Atlas Energy Solutions Stock Up 6.1 %

Shares of NYSE AESI opened at $21.42 on Thursday. The company has a current ratio of 1.23, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42. The company has a 50-day moving average of $20.90 and a 200 day moving average of $21.16. Atlas Energy Solutions Inc. has a 12-month low of $15.55 and a 12-month high of $24.93. The stock has a market cap of $2.35 billion, a PE ratio of 27.11, a P/E/G ratio of 10.60 and a beta of 0.69.

Atlas Energy Solutions (NYSE:AESI) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.25). The company had revenue of $304.40 million during the quarter, compared to analyst estimates of $307.93 million. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. Atlas Energy Solutions’s revenue for the quarter was up 93.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.51 EPS. As a group, sell-side analysts predict that Atlas Energy Solutions Inc. will post 0.8 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th will be paid a dividend of $0.24 per share. The ex-dividend date is Thursday, November 7th. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 4.48%. Atlas Energy Solutions’s payout ratio is 116.46%.

Hedge Funds Weigh In On Atlas Energy Solutions

Institutional investors and hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. acquired a new stake in shares of Atlas Energy Solutions during the 3rd quarter worth approximately $844,000. Emerald Advisers LLC grew its position in Atlas Energy Solutions by 28.4% in the third quarter. Emerald Advisers LLC now owns 10,850 shares of the company’s stock worth $237,000 after acquiring an additional 2,400 shares during the period. Modera Wealth Management LLC acquired a new stake in Atlas Energy Solutions during the third quarter worth $322,000. Tectonic Advisors LLC raised its position in Atlas Energy Solutions by 7.5% in the third quarter. Tectonic Advisors LLC now owns 59,725 shares of the company’s stock valued at $1,302,000 after purchasing an additional 4,187 shares during the period. Finally, Copeland Capital Management LLC raised its position in Atlas Energy Solutions by 19.8% in the third quarter. Copeland Capital Management LLC now owns 1,884,032 shares of the company’s stock valued at $41,072,000 after purchasing an additional 311,228 shares during the period. 34.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on AESI shares. The Goldman Sachs Group dropped their target price on Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Piper Sandler cut their price objective on shares of Atlas Energy Solutions from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Stephens reissued an “overweight” rating and set a $28.00 target price on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $25.00 price target on shares of Atlas Energy Solutions in a report on Wednesday, October 30th. Finally, Benchmark reiterated a “buy” rating and set a $27.00 price objective on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price 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.