Atlas Energy Solutions (NYSE:AESI) Hits New 52-Week Low - Here's What Happened

Key Points

• Atlas Energy Solutions (NYSE:AESI) shares reached a new 52-week low at $10.03, down from a previous close of $10.37, with a trading volume of 846,066 shares.
• Several analysts have downgraded the stock's price target, with Citigroup and Barclays both reducing it from $12 to $11, while maintaining a "neutral" and "equal weight" rating respectively.
• The company recently declared a quarterly dividend of $0.25 per share, representing a 9.9% annual yield and a high dividend payout ratio of 714.29%.

Atlas Energy Solutions Inc. (NYSE:AESI - Get Free Report) shares reached a new 52-week low during trading on Wednesday . The company traded as low as $10.03 and last traded at $10.05, with a volume of 846066 shares trading hands. The stock had previously closed at $10.37.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AESI. Citigroup cut their price target on shares of Atlas Energy Solutions from $12.00 to $11.00 and set a "neutral" rating for the company in a research report on Wednesday, October 1st. Barclays cut their price target on shares of Atlas Energy Solutions from $12.00 to $11.00 and set an "equal weight" rating for the company in a research report on Monday, October 13th. Weiss Ratings restated a "sell (d+)" rating on shares of Atlas Energy Solutions in a research report on Wednesday, October 8th. Stifel Nicolaus dropped their target price on shares of Atlas Energy Solutions from $14.50 to $14.00 and set a "buy" rating for the company in a report on Monday, August 11th. Finally, Piper Sandler dropped their target price on shares of Atlas Energy Solutions from $14.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, October 16th. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $17.39.

Atlas Energy Solutions Stock Down 2.6%

The stock's 50 day simple moving average is $11.22 and its two-hundred day simple moving average is $12.67. The firm has a market cap of $1.25 billion, a P/E ratio of 72.18 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. Investors of record on Thursday, August 14th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $1.00 annualized dividend and a dividend yield of 9.9%. Atlas Energy Solutions's dividend payout ratio (DPR) is 714.29%.

Institutional Investors Weigh In On Atlas Energy Solutions

A number of large investors have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. grew its holdings in Atlas Energy Solutions by 1.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 75,065 shares of the company's stock valued at $1,004,000 after purchasing an additional 725 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in Atlas Energy Solutions by 1.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 53,631 shares of the company's stock valued at $717,000 after purchasing an additional 874 shares during the last quarter. Police & Firemen s Retirement System of New Jersey grew its holdings in Atlas Energy Solutions by 7.1% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 16,090 shares of the company's stock valued at $215,000 after purchasing an additional 1,061 shares during the last quarter. New York State Teachers Retirement System grew its holdings in Atlas Energy Solutions by 9.3% during the 1st quarter. New York State Teachers Retirement System now owns 14,161 shares of the company's stock valued at $253,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its holdings in Atlas Energy Solutions by 3.5% during the 3rd quarter. Louisiana State Employees Retirement System now owns 35,300 shares of the company's stock valued at $401,000 after purchasing an additional 1,200 shares during the last quarter. Institutional investors own 34.59% of the company's stock.

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.

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