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

Key Points

• Atlas Energy Solutions has reached a new 52-week low, trading at $11.75, down from a previous close of $12.13, indicating a downward trend in its stock performance.
• Analysts have set varied price targets, with the consensus target price at $19.11, showing a mixed outlook with some analysts maintaining a "hold" and others a "buy" rating.
• The company recently announced a quarterly dividend of $0.25 per share, equating to an annual yield of 8.5%, despite a high dividend payout ratio of 322.58%.

Atlas Energy Solutions Inc. (NYSE:AESI - Get Free Report)'s share price hit a new 52-week low during trading on Thursday . The company traded as low as $11.75 and last traded at $11.79, with a volume of 580490 shares changing hands. The stock had previously closed at $12.13.

Analyst Ratings Changes

Several equities research analysts recently weighed in on AESI shares. Royal Bank Of Canada decreased their target price on Atlas Energy Solutions from $21.00 to $17.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Citigroup cut their price target on Atlas Energy Solutions from $18.00 to $14.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Piper Sandler reissued a "neutral" rating and issued a $16.00 target price on shares of Atlas Energy Solutions in a report on Tuesday, July 15th. Finally, Stifel Nicolaus dropped their target price on Atlas Energy Solutions from $14.50 to $14.00 and set a "buy" rating on the stock in a report on Monday. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $19.06.

Atlas Energy Solutions Stock Down 1.1%

The business has a fifty day moving average price of $13.60 and a two-hundred day moving average price of $15.75. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.56 and a quick ratio of 1.30. The firm has a market cap of $1.43 billion, a PE ratio of 82.68 and a beta of 1.19.

Atlas Energy Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 8.6%. The ex-dividend date is Thursday, August 14th. Atlas Energy Solutions's dividend payout ratio is currently 714.29%.

Insider Buying and Selling

In other news, Chairman Ben M. Brigham bought 9,635 shares of the stock in a transaction on Wednesday, May 14th. The stock was purchased at an average price of $13.38 per share, for a total transaction of $128,916.30. Following the acquisition, the chairman owned 572,397 shares in the company, valued at approximately $7,658,671.86. This trade represents a 1.71% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Douglas G. Rogers bought 7,000 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was bought at an average cost of $13.27 per share, for a total transaction of $92,890.00. Following the transaction, the director owned 10,000 shares of the company's stock, valued at $132,700. The trade was a 233.33% increase in their position. The disclosure for this purchase can be found here. 15.98% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Atlas Energy Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of AESI. Vanguard Group Inc. grew its stake in shares of Atlas Energy Solutions by 16.5% in the first quarter. Vanguard Group Inc. now owns 8,054,677 shares of the company's stock worth $143,695,000 after purchasing an additional 1,139,352 shares during the last quarter. First Trust Advisors LP grew its position in Atlas Energy Solutions by 31.5% in the fourth quarter. First Trust Advisors LP now owns 3,908,810 shares of the company's stock worth $86,697,000 after acquiring an additional 935,410 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Atlas Energy Solutions by 25.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,390,269 shares of the company's stock valued at $75,197,000 after buying an additional 689,846 shares during the period. Cooke & Bieler LP raised its stake in Atlas Energy Solutions by 23.8% in the second quarter. Cooke & Bieler LP now owns 3,219,440 shares of the company's stock worth $43,044,000 after buying an additional 619,347 shares in the last quarter. Finally, Copeland Capital Management LLC grew its holdings in shares of Atlas Energy Solutions by 42.5% during the first quarter. Copeland Capital Management LLC now owns 3,203,592 shares of the company's stock valued at $57,152,000 after buying an additional 955,818 shares during the last quarter. Institutional investors 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.