Atlas (NYSE:ATCO) Energy Solutions Inc. (NYSE:AESI), a player in the crude petroleum and natural gas industry, has reported a significant transaction involving a member of its 10% owner group. Richard W. Schmidt, through indirect ownership, sold a substantial number of shares in two separate transactions.
On May 15, 2024, Schmidt sold 45,948 shares at an average price of $23.06, with the price ranging from $22.99 to $23.08 per share. The following day, an additional 88,600 shares were sold at an average price of $23.14, with sales prices ranging from $23.00 to $23.20. The total value of the shares sold across these transactions amounted to $3,109,764.
Post-sale, Schmidt's indirectly owned holdings in Atlas Energy Solutions stand at 894,715 shares. It should be noted that the shares are held by Schmidt Atlas LLC, for which Schmidt is the sole manager. He has disclaimed beneficial ownership of these shares, except to the extent of his pecuniary interest.
As a member of the 10% owner group, Schmidt's transactions are closely watched by investors for insights into insider sentiment regarding the company's future prospects. The sales are part of routine disclosures made by company insiders, which provide transparency and maintain fair dealing in the market.
Investors and stakeholders in Atlas Energy Solutions Inc. can request detailed information about the specific prices at which shares were sold within the reported range from the reporting person, as indicated in the footnotes of the filing.
InvestingPro Insights
Atlas Energy Solutions Inc. (AESI) has been attracting attention not only due to insider transactions but also because of its financial performance and market valuation. As per the latest data from InvestingPro, AESI's market capitalization stands at a robust $2.54 billion, signaling a considerable size within the crude petroleum and natural gas sector. The company's P/E ratio, a key metric for valuation, is currently at 15.31, which aligns with industry standards and suggests a balanced price for its earnings.
InvestingPro Tips for AESI indicate that analysts are forecasting sales growth for the current year, which may be a contributing factor to the company's trading near its 52-week high. This optimism is further supported by the company's revenue growth of 13.35% over the last twelve months as of Q1 2024. Additionally, AESI's stock performance has been strong, with a 31.56% return over the last three months, and a 37.83% return over the past year, reflecting a large price uptick and solid investor confidence.
For investors looking for more detailed analysis and additional tips, InvestingPro offers a comprehensive suite of tools and insights. Currently, there are 9 more InvestingPro Tips available for AESI, which can be accessed by visiting https://www.investing.com/pro/AESI. To deepen your investment research, you can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With these resources, investors can make more informed decisions based on the latest data and expert analysis.
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