Atlas Energy Solutions Inc. (NYSE:AESI) Major Shareholder Kirk Edwards Ginn Sells 1,562 Shares of Stock

Atlas Energy Solutions Inc. (NYSE:AESIGet Free Report) major shareholder Kirk Edwards Ginn sold 1,562 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $21.73, for a total transaction of $33,942.26. Following the sale, the insider now directly owns 479,525 shares in the company, valued at $10,420,078.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Atlas Energy Solutions Price Performance

Shares of NYSE AESI opened at $21.84 on Wednesday. The business’s 50 day moving average is $18.31 and its 200-day moving average is $18.93. The firm has a market cap of $2.18 billion and a P/E ratio of 13.91. Atlas Energy Solutions Inc. has a 1-year low of $15.28 and a 1-year high of $24.69. The company has a current ratio of 3.44, a quick ratio of 3.21 and a debt-to-equity ratio of 0.20.

Atlas Energy Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 22nd were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.85%. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.20. Atlas Energy Solutions’s dividend payout ratio (DPR) is currently 40.76%.

Hedge Funds Weigh In On Atlas Energy Solutions

Several institutional investors and hedge funds have recently modified their holdings of AESI. Barclays PLC acquired a new stake in Atlas Energy Solutions during the first quarter worth approximately $208,000. Tower Research Capital LLC TRC bought a new position in shares of Atlas Energy Solutions in the first quarter worth $68,000. Citigroup Inc. acquired a new position in Atlas Energy Solutions in the first quarter valued at about $123,000. Sei Investments Co. acquired a new stake in Atlas Energy Solutions during the first quarter worth about $674,000. Finally, HRT Financial LP bought a new position in Atlas Energy Solutions in the 1st quarter valued at about $937,000. 17.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Barclays upped their target price on shares of Atlas Energy Solutions from $23.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. The Goldman Sachs Group started coverage on Atlas Energy Solutions in a research note on Thursday, March 14th. They issued a “buy” rating and a $24.00 price objective on the stock. Finally, Royal Bank of Canada lifted their target price on Atlas Energy Solutions from $23.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 28th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Atlas Energy Solutions has an average rating of “Buy” and an average price target of $25.00.

Check Out Our Latest Analysis on AESI

About Atlas Energy Solutions

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Atlas Energy Solutions Inc provides proppant and logistics services to the oil and natural gas industry within the Permian Basin of West Texas and New Mexico. The company was founded in 2017 and is based in Austin, Texas.

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