An insider of Atlas (NYSE:ATCO) Energy Solutions Inc. (NYSE:AESI), a member of the company's 10% owner group, has recently sold a significant amount of company stock, according to the latest filings. Richard W. Schmidt, through transactions conducted on May 9th and 10th, sold a total of 73,550 shares for an aggregate price of over $1.6 million.
The sales took place at weighted average prices ranging from $22.80 to $22.98 per share. Specifically, on May 9th, 51,150 shares were sold at an average price of $22.98, with individual transactions occurring between $22.82 and $23.13. The following day, 22,400 shares were sold at an average price of $22.80, with prices ranging from $22.66 to $23.08.
Post these transactions, Schmidt's indirectly held shares, managed by Schmidt Atlas LLC, amounted to over one million shares. It is important to note that Schmidt, as the sole manager of Schmidt Atlas LLC, disclaims beneficial ownership of the shares held by the entity except to the extent of his pecuniary interest therein.
Investors often monitor insider sales as they may offer insights into the insider’s perspective on the company's current valuation and future prospects. However, such transactions can be subject to various personal financial considerations and do not necessarily indicate a bearish company outlook.
Atlas Energy Solutions Inc., headquartered in Austin, Texas, operates in the crude petroleum and natural gas industry and is incorporated in Delaware. The company's stock is publicly traded and can be found under the ticker symbol AESI.
The reported transactions were made in compliance with applicable securities laws, and full details regarding the number of shares sold at each separate price within the stated ranges are available upon request from the reporting person.
InvestingPro Insights
Atlas Energy Solutions Inc. (NYSE:AESI) has seen notable activity from insiders, which may captivate investors' attention, but a broader look at the company's financial metrics can offer a more comprehensive picture. According to InvestingPro data, AESI boasts a market capitalization of roughly $2.5 billion and presents a Price-to-Earnings (P/E) ratio of 15.2, which adjusts to 20.54 when considering the last twelve months as of Q1 2024. This could potentially reflect the market's interpretation of the company's earnings quality and growth prospects.
Investors may also find the revenue growth figures of AESI particularly interesting. The company has demonstrated a robust quarterly revenue growth of 25.58% in Q1 2024, coupled with a year-over-year gross profit margin of 53.37%. These figures suggest that Atlas Energy Solutions Inc. is not only increasing its revenue but also maintaining a strong profit margin on its sales. The InvestingPro Tips highlight that analysts anticipate sales growth in the current year, which aligns with the positive revenue trends observed.
Furthermore, the stock has experienced a significant price uptick of 31.41% over the last six months and a year-to-date price total return of 33.47%, as per the latest data. This performance is corroborated by an InvestingPro Tip indicating a strong return over the last three months. Investors interested in deeper analysis can find additional InvestingPro Tips for AESI, such as insights on analysts' earnings revisions and the company's debt levels, by visiting https://www.investing.com/pro/AESI. There are 9 additional tips available on InvestingPro, offering a more nuanced view of the company's financial health and future outlook.
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