Brian Anthony Leveille, a member of the 10% owner group at Atlas (NYSE:ATCO) Energy Solutions Inc. (NYSE:AESI), recently sold shares of the company's common stock, according to a recent SEC filing. The company, currently valued at $2.63 billion, has seen its stock rise 7.84% year-to-date and trades near its 52-week high of $25.38. On January 22, Leveille sold 5,000 shares at a price of $23.88 each, and on January 23, he sold an additional 7,500 shares at $24.00 per share. The total value of these transactions amounted to $299,400. Following these sales, Leveille owns 374,510 shares of Atlas Energy Solutions . According to InvestingPro analysis, the stock appears slightly undervalued at its current P/E ratio of 30.2, with additional insights available in the comprehensive Pro Research Report covering this and 1,400+ other US equities.
In other recent news, Atlas Energy Solutions has been the focus of multiple analyst reports. BofA Securities downgraded the company's stock rating from Buy to Neutral due to recent market dynamics affecting the frac sand industry. Similarly, Atlas Energy's stock has been downgraded by Goldman Sachs (NYSE:GS), Citi, and Barclays (LON:BARC), citing concerns over financial forecasts and valuation. Despite these downgrades, Atlas Energy reported a 6% quarterly increase in revenue, reaching $304 million, and announced a dividend increase to $0.24 per share and a $200 million share repurchase program.
In the energy sector, short sellers have faced significant losses at the start of the year, with the Energy Select Sector SPDR ETF (NYSE:XLE) and Vanguard Energy ETF up 8% for the year. Short sellers in the energy sector have faced $5.8 billion in year-to-date mark-to-market losses. Despite these losses, the overall short interest in the energy sector has increased by $4.9 billion.
Texas Pacific Land (NYSE:TPL) Corp. is set to join the S&P 500, replacing Marathon Oil Corp (NYSE:MRO), which has led to a surge in the company's stock. Concurrently, S&P SmallCap 600 member Mueller Industries Inc (NYSE:MLI). will move to the S&P MidCap 400, filling the vacancy left by Texas Pacific Land. These are the recent developments in the energy sector.
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