Atlas Energy Solutions (NYSE:AESI) Reaches New 1-Year Low - What's Next?

Key Points

• Atlas Energy Solutions (AESI) reached a new 52-week low at $10.83, significantly lower than its previous close of $11.32, with over 1.6 million shares traded.
• Analysts have reduced price targets for AESI, with Piper Sandler setting a new target of $14.00 and Citigroup also lowering its target to $14.00, signaling a cautious outlook on the stock.
• The company declared a quarterly dividend of $0.25 per share, yielding approximately 9.2%, but has a high dividend payout ratio of 714.29%.

Atlas Energy Solutions Inc. (NYSE:AESI - Get Free Report) reached a new 52-week low during trading on Wednesday . The company traded as low as $10.85 and last traded at $10.83, with a volume of 1639115 shares traded. The stock had previously closed at $11.32.

Analysts Set New Price Targets

A number of analysts recently weighed in on AESI shares. Piper Sandler reduced their target price on shares of Atlas Energy Solutions from $16.00 to $14.00 and set a "neutral" rating for the company in a report on Thursday, August 14th. Citigroup decreased their target price on Atlas Energy Solutions from $18.00 to $14.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Royal Bank Of Canada cut their target price on Atlas Energy Solutions from $21.00 to $17.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Finally, Stifel Nicolaus decreased their price target on Atlas Energy Solutions from $14.50 to $14.00 and set a "buy" rating for the company in a research report on Monday, August 11th. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $18.83.

Atlas Energy Solutions Price Performance

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 50-day simple moving average of $12.82 and a 200 day simple moving average of $14.49. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 77.83 and a beta of 1.19.

Atlas Energy Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 9.2%. The ex-dividend date was Thursday, August 14th. Atlas Energy Solutions's dividend payout ratio (DPR) is currently 714.29%.

Institutional Investors Weigh In On Atlas Energy Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Encompass Capital Advisors LLC purchased a new position in shares of Atlas Energy Solutions during the 1st quarter valued at $43,614,000. Nuveen LLC purchased a new stake in shares of Atlas Energy Solutions during the 1st quarter worth about $26,956,000. Vanguard Group Inc. lifted its holdings in shares of Atlas Energy Solutions by 16.5% during the 1st quarter. Vanguard Group Inc. now owns 8,054,677 shares of the company's stock valued at $143,695,000 after buying an additional 1,139,352 shares during the last quarter. HITE Hedge Asset Management LLC bought a new stake in shares of Atlas Energy Solutions in the 1st quarter valued at approximately $18,844,000. Finally, Liontrust Investment Partners LLP increased 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 worth $14,378,000 after buying an additional 1,055,876 shares during the last quarter. Hedge funds and other 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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