Atlas Energy Solutions director Stacy Hock sells $225,000 in stock

AUSTIN, Texas—Stacy Hock, a director and member of the 10% owner group at Atlas (NYSE:ATCO) Energy Solutions Inc. (NYSE:AESI), sold 10,000 shares of common stock on February 3, according to a recent SEC filing. The transaction, executed under a Rule 10b5-1 trading plan, was completed at a weighted average price of $22.50 per share, generating total proceeds of $225,000. The sale comes as the stock has experienced a notable 10.5% decline over the past week, though InvestingPro data shows a strong 26% gain over the past six months.

Following this sale, Stacy Hock, along with Joel Hock, who jointly owns the shares, retains 897,604 shares in the company. The sale was part of a prearranged trading plan adopted on March 22, 2024, allowing the Hocks to execute trades in compliance with insider trading regulations. According to InvestingPro analysis, Atlas Energy currently trades at a P/E ratio of 30.2 and maintains a moderate debt level, with an overall Financial Health score rated as "Good." For deeper insights into Atlas Energy’s valuation and 7 additional ProTips, subscribers can access the comprehensive Pro Research Report.

Atlas Energy Solutions Inc., headquartered in Austin, Texas, is involved in the crude petroleum and natural gas industry. The company has demonstrated robust growth with a 48.7% increase in revenue over the last twelve months, reaching $926 million. Based on InvestingPro’s Fair Value analysis, the stock currently appears slightly undervalued.

In other recent news, Atlas Energy Solutions Inc. has announced an upsized underwritten public offering of 11,500,000 shares at $23 per share. The offering, which is expected to raise total gross proceeds of $264.5 million, is led by Goldman Sachs & Co. LLC and Piper Sandler & Co. The energy company plans to use the proceeds to repay debt, fund the acquisition of Moser Engine Service, Inc., and for general corporate purposes.

Simultaneously, Atlas Energy is making strategic moves with the acquisition of Moser Energy Systems for $220 million. This acquisition is anticipated to be completed in the first quarter of 2025, pending customary closing conditions and regulatory approvals.

Analysts have responded to these recent developments. Benchmark analyst Kurt Hallead raised the price target on Atlas Energy Solutions Inc to $28 from the previous $23, maintaining a Buy rating on the stock. Similarly, RBC Capital Markets increased the price target to $28 from $27, reaffirming an Outperform rating. On the other hand, Citi analyst Scott Gruber adjusted the price target for Atlas Energy Solutions Inc, increasing it to $24.00 from the previous $22.00, while maintaining a Neutral stock rating. These adjustments reflect the company’s recent strategic moves and potential for growth.

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