Atlas Energy Solutions (NYSE:AESI) Hits New 12-Month Low – Here’s Why

Atlas Energy Solutions Inc. (NYSE:AESI) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $16.17 and last traded at $16.26, with a volume of 505243 shares trading hands. The stock had previously closed at $18.40.

Analysts Set New Price Targets

AESI has been the topic of a number of analyst reports. Stephens increased their price objective on shares of Atlas Energy Solutions from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. Royal Bank of Canada restated an “outperform” rating and issued a $25.00 price target on shares of Atlas Energy Solutions in a research note on Wednesday. Benchmark reduced their price objective on Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Raymond James cut Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. Finally, Piper Sandler began coverage on Atlas Energy Solutions in a research report on Wednesday, March 12th. They set an “overweight” rating and a $22.00 price target for the company. Six analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Atlas Energy Solutions presently has a consensus rating of “Moderate Buy” and an average target price of $23.83.

Atlas Energy Solutions Trading Down 14.1 %

The company has a quick ratio of 1.08, a current ratio of 1.23 and a debt-to-equity ratio of 0.42. The firm’s 50-day simple moving average is $20.13 and its 200 day simple moving average is $21.27. The stock has a market capitalization of $1.92 billion, a P/E ratio of 20.01 and a beta of 1.18.

Atlas Energy Solutions (NYSE:AESI) last released its earnings results on Monday, February 24th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.12). The business had revenue of $271.34 million for the quarter, compared to analyst estimates of $272.94 million. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. Equities research analysts anticipate that Atlas Energy Solutions Inc. will post 0.83 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 21st were paid a dividend of $0.25 per share. The ex-dividend date was Friday, February 21st. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 6.33%. Atlas Energy Solutions’s dividend payout ratio (DPR) is currently 178.57%.

Insider Transactions at Atlas Energy Solutions

In other news, major shareholder Gregory M. Shepard bought 32,155 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were bought at an average cost of $19.04 per share, with a total value of $612,231.20. Following the purchase, the insider now directly owns 7,651,210 shares in the company, valued at $145,679,038.40. This trade represents a 0.42 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Stacy Hock sold 10,000 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $21.96, for a total value of $219,600.00. Following the completion of the sale, the insider now directly owns 907,604 shares of the company’s stock, valued at approximately $19,930,983.84. This trade represents a 1.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,000 shares of company stock valued at $1,049,750 over the last three months. Company insiders own 24.34% of the company’s stock.

Institutional Investors Weigh In On Atlas Energy Solutions

Hedge funds have recently bought and sold shares of the business. First Hawaiian Bank increased its holdings in shares of Atlas Energy Solutions by 5.2% in the 1st quarter. First Hawaiian Bank now owns 55,252 shares of the company’s stock valued at $986,000 after purchasing an additional 2,748 shares during the period. Wellington Management Group LLP increased its stake in Atlas Energy Solutions by 7.7% in the 4th quarter. Wellington Management Group LLP now owns 855,405 shares of the company’s stock valued at $18,973,000 after buying an additional 61,185 shares during the period. Ashford Capital Management Inc. lifted its position in Atlas Energy Solutions by 36.1% in the 4th quarter. Ashford Capital Management Inc. now owns 797,675 shares of the company’s stock worth $17,692,000 after buying an additional 211,675 shares in the last quarter. Squarepoint Ops LLC lifted its position in Atlas Energy Solutions by 135.0% in the 4th quarter. Squarepoint Ops LLC now owns 68,880 shares of the company’s stock worth $1,528,000 after buying an additional 39,570 shares in the last quarter. Finally, Snowden Capital Advisors LLC boosted its stake in shares of Atlas Energy Solutions by 44.9% during the 4th quarter. Snowden Capital Advisors LLC now owns 24,470 shares of the company’s stock valued at $543,000 after buying an additional 7,587 shares during the period. 34.59% of the stock is owned by hedge funds and other institutional investors.

Atlas Energy Solutions Company Profile

Atlas Energy Solutions Inc engages in the production, processing, and sale of mesh and sand that are used as a proppant during the well completion process in the Permian Basin of Texas and New Mexico. The company provides transportation and logistics, storage solutions, and contract labor services. It sells its products and services to oil and natural gas exploration and production companies, and oilfield services companies.