Atlas Energy Solutions (NYSE:AESI) Sets New 52-Week Low - Time to Sell?

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)'s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $10.85 and last traded at $10.83, with a volume of 1639115 shares trading hands. The stock had previously closed at $11.32.

Wall Street Analysts Forecast Growth

AESI has been the topic of several analyst reports. Citigroup dropped their price target on shares of Atlas Energy Solutions from $18.00 to $14.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Stifel Nicolaus dropped their price target on shares of 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. Finally, Piper Sandler dropped their price target on shares of Atlas Energy Solutions from $16.00 to $14.00 and set a "neutral" rating on the stock in a research note on Thursday, August 14th. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $18.83.

Atlas Energy Solutions Stock Down 0.7%

The company has a quick ratio of 1.30, a current ratio of 1.56 and a debt-to-equity ratio of 0.39. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 76.54 and a beta of 1.19. The stock's 50 day moving average is $12.62 and its 200 day moving average is $14.13.

Atlas Energy Solutions Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC bought a new stake in Atlas Energy Solutions during the first quarter worth approximately $912,000. Alpine Woods Capital Investors LLC boosted its stake in Atlas Energy Solutions by 1,360.8% in the 1st quarter. Alpine Woods Capital Investors LLC now owns 228,082 shares of the company's stock worth $4,069,000 after purchasing an additional 212,469 shares during the period. DAVENPORT & Co LLC boosted its stake in Atlas Energy Solutions by 65.5% in the 1st quarter. DAVENPORT & Co LLC now owns 75,800 shares of the company's stock worth $1,352,000 after purchasing an additional 30,000 shares during the period. Envestnet Asset Management Inc. boosted its stake in Atlas Energy Solutions by 9.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 381,094 shares of the company's stock worth $6,799,000 after purchasing an additional 33,404 shares during the period. Finally, Amalgamated Bank boosted its stake in Atlas Energy Solutions by 13.1% in the 1st quarter. Amalgamated Bank now owns 20,592 shares of the company's stock worth $367,000 after purchasing an additional 2,383 shares during the period. Institutional investors and hedge funds own 34.59% of the company's stock.

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.