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

Key Points

• Atlas Energy Solutions Inc. (NYSE:AESI) stock hit a new 52-week low, trading at $10.38, marking a decline from a previous close of $10.67.
• Analyst ratings have varied, with Barclays and Citigroup lowering their target prices to $11.00, while Stifel Nicolaus maintains a buy rating with a target of $14.00.
• The company recently declared a quarterly dividend of $0.25 per share, yielding approximately 9.7%, though its dividend payout ratio stands at a high 714.29%.

Atlas Energy Solutions Inc. (NYSE:AESI - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $10.38 and last traded at $10.44, with a volume of 348350 shares trading hands. The stock had previously closed at $10.67.

Analysts Set New Price Targets

AESI has been the topic of several recent analyst reports. Barclays reduced their target price on Atlas Energy Solutions from $12.00 to $11.00 and set an "equal weight" rating on the stock in a research report on Monday. Weiss Ratings restated a "sell (d+)" rating on shares of Atlas Energy Solutions in a research note on Wednesday, October 8th. Stifel Nicolaus lowered their target price on Atlas Energy Solutions from $14.50 to $14.00 and set a "buy" rating on the stock in a research note on Monday, August 11th. Piper Sandler set a $12.00 price target on Atlas Energy Solutions and gave the stock a "neutral" rating in a research report on Thursday. Finally, Citigroup reduced their target price on Atlas Energy Solutions from $12.00 to $11.00 and set a "neutral" rating for the company in a report on Wednesday, October 1st. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Atlas Energy Solutions presently has an average rating of "Hold" and an average price target of $17.39.

Atlas Energy Solutions Stock Performance

The firm has a 50 day simple moving average of $11.32 and a 200-day simple moving average of $12.88. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 73.48 and a beta of 1.16. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.56 and a quick ratio of 1.30.

Atlas Energy Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 9.7%. The ex-dividend date was Thursday, August 14th. Atlas Energy Solutions's dividend payout ratio (DPR) is currently 714.29%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of AESI. Encompass Capital Advisors LLC purchased a new position in shares of Atlas Energy Solutions during the first quarter worth $43,614,000. Nuveen LLC purchased a new position in Atlas Energy Solutions in the first quarter valued at $26,956,000. Vanguard Group Inc. boosted its holdings in Atlas Energy Solutions by 16.5% in the first quarter. Vanguard Group Inc. now owns 8,054,677 shares of the company's stock valued at $143,695,000 after purchasing an additional 1,139,352 shares during the period. HITE Hedge Asset Management LLC purchased a new position in Atlas Energy Solutions in the first quarter valued at $18,844,000. Finally, Liontrust Investment Partners LLP boosted its holdings in Atlas Energy Solutions by 5,408.1% in the second quarter. Liontrust Investment Partners LLP now owns 1,075,400 shares of the company's stock valued at $14,378,000 after purchasing an additional 1,055,876 shares during the period. 34.59% of the stock is currently 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.

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