Recent Insider Activity Suggests Potential Gains for Atlas Energy Solutions Inc. (AESI)


Atlas Energy Solutions Inc.’s recent filing unveils that its Exec Chairman & CEO BRIGHAM BEN M acquired Company’s shares for reported $0.17 million on Jun 05. In the deal valued at $16.85 per share,10,000 shares were bought. As a result of this transaction, BRIGHAM BEN M now holds 300,000 shares worth roughly $ 6.69 million.

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Then, BRIGHAM BEN M bought 10,000 shares, generating $162,900 in total proceeds. Upon buying the shares at $16.29, the Exec Chairman & CEO now owns 290,000 shares.

Before that, BRIGHAM BEN M bought 280,000 shares. Atlas Energy Solutions Inc. shares valued at $5,040,000 were divested by the insider at a price of $18.00 per share. As a result of the transaction, BRIGHAM BEN M now holds 280,000 shares, worth roughly $6.24 million.

Johnson Rice initiated its Atlas Energy Solutions Inc. [AESI] rating to a Buy in a research note published on Friday, April 12, 2023; the price target was $24. PT values the company’s stock at a premium of 7.08 to its Friday closing price.

Price Performance Review of AESI

On Friday, Atlas Energy Solutions Inc. [NYSE:AESI] saw its stock jump 4.74% to $22.30. On the same session, the stock had its day’s lowest price of $21.15, but rose to a high of $22.5843. Over the last five days, the stock has gained 6.04%. Atlas Energy Solutions Inc. shares have risen nearly 33.04% since the year began. A total of 0.72 million shares were traded, compared to the trading of 0.64 million shares in the previous session.

Levels Of Support And Resistance For AESI Stock

The 24-hour chart illustrates a support level at 21.44, which if violated will result in even more drops to 20.58. On the upside, there is a resistance level at 22.87. A further resistance level may holdings at 23.45. The Relative Strength Index (RSI) on the 14-day chart is 62.97, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.03, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 14.47%. Stochastics %K at 59.06% indicates the stock is a holding.

How much short interest is there in Atlas Energy Solutions Inc.?

A steep rise in short interest was recorded in Atlas Energy Solutions Inc. stocks on Aug 14, 2023, growing by 0.55 million shares to a total of 2.71 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 2.16 million shares. There was a rise of 20.3%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 15.27% of the overall stock float, the days-to-cover ratio (short ratio) rose to 6.12.

Atlas Energy Solutions Inc. [AESI] – Who Are The Largest Shareholders?

In filings from Janus Henderson Investors US LLC, it is revealed that the company now owns 1,997,038 shares, or roughly 3.50% of the outstanding AESI shares. In other words, the investor’s shares have risen by 50,262 from its previous 13-F filing of 1946776.0. Additionally, ClearBridge Investments LLC increased 0.03% of its stake after which the total value it holdings stand at $33,977,821, while The Vanguard Group, Inc. added 14.22% of its stake to hold $30.9 million in the firm. Over the last quarter, Encompass Capital Advisors LLC purchased 70,955 shares of Atlas Energy Solutions Inc., while Victory Capital Management, Inc. bought 5,779 shares. At present, HITE Hedge Asset Management LLC is holding 1,240,337 shares valued at $24.5 million. BlackRock Fund Advisors owned 980,127 shares of the company at the time of its most recent 13F filing, worth $19.36 million.

However, 11 analysts have rated AESI stock as a Buy in their predictions for 2023.


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