Key Points
- Insider Gregory Shepard sold 190,500 shares for about $983,000 at an average price of $5.16, reducing his stake by 2.83%; he still owned approximately 6.53 million shares. The article also reports sales totaling 890,500 shares across November 6, 9 and 10.
- Atlas reported a quarterly loss of $0.36 per share, missing the $0.24-per-share loss analysts expected, while revenue of $267.78 million slightly beat estimates and increased 3.1% year over year.
- Shares opened at $5.34, near their 12-month low of $5.08. Analysts’ consensus rating was Hold, with an average price target of $16.50.
Atlas Energy Solutions Inc. (NYSE:AESI - Get Free Report) insider Gregory Shepard sold 190,500 shares of the firm's stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $5.16, for a total transaction of $982,980.00. Following the completion of the sale, the insider owned 6,530,710 shares in the company, valued at $33,698,463.60. The trade was a 2.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Atlas Energy Solutions Stock Performance
AESI opened at $5.34 on Wednesday. The business's 50 day moving average is $10.99 and its 200-day moving average is $13.20. The stock has a market cap of $667.50 million, a PE ratio of -4.77 and a beta of 1.29. The company has a current ratio of 1.22, a quick ratio of 0.99 and a debt-to-equity ratio of 0.92. Atlas Energy Solutions Inc. has a twelve month low of $5.08 and a twelve month high of $20.13.
Atlas Energy Solutions (NYSE:AESI - Get Free Report) last issued its quarterly earnings data on Monday, November 2nd. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.12). Atlas Energy Solutions had a negative return on equity of 12.38% and a negative net margin of 12.98%. The business had revenue of $267.78 million for the quarter, compared to analyst estimates of $265.32 million. During the same quarter in the prior year, the firm posted ($0.19) earnings per share. The business's quarterly revenue was up 3.1% on a year-over-year basis. On average, analysts predict that Atlas Energy Solutions Inc. will post -0.95 earnings per share for the current year.
Analyst Ratings Changes
A number of brokerages have issued reports on AESI. Scotiabank boosted their price target on Atlas Energy Solutions from $17.00 to $18.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, November 4th. Glj Research began coverage on Atlas Energy Solutions in a report on Wednesday, October 28th. They set a "buy" rating and a $13.00 price target on the stock. Barclays lowered their price target on Atlas Energy Solutions from $14.00 to $13.00 and set an "equal weight" rating on the stock in a report on Thursday, October 15th. Weiss Ratings restated a "sell (d)" rating on shares of Atlas Energy Solutions in a research note on Wednesday, November 4th. Finally, Royal Bank Of Canada reduced their price objective on shares of Atlas Energy Solutions from $16.00 to $13.00 and set a "sector perform" rating for the company in a report on Wednesday, November 4th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $16.50.
Read Our Latest Stock Report on AESI
Key Headlines Impacting Atlas Energy Solutions
Here are the key news stories impacting Atlas Energy Solutions this week:
- Positive Sentiment: A Seeking Alpha article described emerging tailwinds as supporting a “strong buy” view of Atlas Energy Solutions, offering a bullish counterpoint to recent selling. Article: Atlas Energy Solutions: Emerging Tailwinds Make It A Strong Buy
- Neutral Sentiment: Stifel Nicolaus cut its price target from $25 to $21 but maintained a Buy rating. The revised target still implies substantial upside from the cited $5.34 share price. Article about Stifel Nicolaus's price-target change
- Negative Sentiment: Insider Gregory Shepard sold a combined 890,500 shares on November 6, 9 and 10 for about $4.75 million. The repeated sales may concern investors, although he still held about 6.53 million shares after the latest transaction. SEC filing for insider transactions
- Negative Sentiment: Recent quarterly results showed a larger-than-expected loss per share, despite revenue modestly exceeding estimates. That earnings miss adds to the pressure on the shares.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its stake in shares of Atlas Energy Solutions by 12.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,502,480 shares of the company's stock valued at $19,713,000 after acquiring an additional 167,758 shares during the period. CenterBook Partners LP raised its holdings in Atlas Energy Solutions by 84.8% during the third quarter. CenterBook Partners LP now owns 1,180,943 shares of the company's stock worth $14,183,000 after purchasing an additional 541,774 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Atlas Energy Solutions during the second quarter worth approximately $7,765,000. Encompass Capital Advisors LLC bought a new stake in Atlas Energy Solutions during the first quarter worth approximately $119,854,000. Finally, Readystate Asset Management LP acquired a new stake in Atlas Energy Solutions in the first quarter worth approximately $1,459,000. 34.59% of the stock is currently owned by institutional investors.
About Atlas Energy Solutions
(
Get Free Report)
Atlas Energy Solutions Inc. is a U.S. energy-services company that supplies proppant, primarily frac sand, used in hydraulic fracturing. The company mines, processes and distributes sand for oil and natural gas operators. Atlas also provides logistics services to move proppant from its facilities to well sites, including transportation and storage. Its operations are focused on the Permian Basin in West Texas and southeastern New Mexico, a major oil and gas producing region. Founded in 2017, the company has developed an integrated supply and logistics network serving energy producers in the region.
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