Atlas Energy Solutions (NYSE:AESI) Reaches New 12-Month Low - Time to Sell?

Key Points

• Atlas Energy Solutions (AESI) reached a new 12-month low of $10.59 during trading, with shares currently priced at $10.72 and a trading volume of over 1.3 million.
• Analysts have adjusted their price targets for the company, with Stifel Nicolaus lowering it to $14.00 and maintaining a "buy" rating, while Citigroup and Piper Sandler both set a "neutral" rating at the same price.
• The company announced a quarterly dividend of $0.25, reflecting a 9.3% yield but a notably high payout ratio of 714.29%.

Atlas Energy Solutions Inc. (NYSE:AESI - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $10.59 and last traded at $10.72, with a volume of 1332792 shares changing hands. The stock had previously closed at $10.79.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on AESI shares. Stifel Nicolaus reduced their price target on Atlas Energy Solutions from $14.50 to $14.00 and set a "buy" rating for the company in a report on Monday, August 11th. Piper Sandler reduced their price target on Atlas Energy Solutions from $16.00 to $14.00 and set a "neutral" rating for the company in a report on Thursday, August 14th. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $18.83.

Atlas Energy Solutions Trading Down 1.3%

The company has a fifty day moving average of $12.35 and a two-hundred day moving average of $13.88. The company has a current ratio of 1.56, a quick ratio of 1.30 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 77.08 and a beta of 1.19.

Atlas Energy Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 9.3%. The ex-dividend date was Thursday, August 14th. Atlas Energy Solutions's payout ratio is 714.29%.

Institutional Investors Weigh In On Atlas Energy Solutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in AESI. EverSource Wealth Advisors LLC acquired a new stake in Atlas Energy Solutions in the 2nd quarter worth approximately $25,000. CWM LLC lifted its holdings in Atlas Energy Solutions by 244.4% in the 2nd quarter. CWM LLC now owns 2,235 shares of the company's stock worth $30,000 after purchasing an additional 1,586 shares during the last quarter. Fifth Third Bancorp increased its position in Atlas Energy Solutions by 1,240.1% in the 1st quarter. Fifth Third Bancorp now owns 1,970 shares of the company's stock worth $35,000 after buying an additional 1,823 shares during the period. Larson Financial Group LLC increased its position in Atlas Energy Solutions by 201.8% in the 1st quarter. Larson Financial Group LLC now owns 1,968 shares of the company's stock worth $35,000 after buying an additional 1,316 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new position in Atlas Energy Solutions in the 2nd quarter worth approximately $36,000. 34.59% of the stock is currently owned by institutional investors and hedge funds.

About Atlas Energy Solutions

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.