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

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 stock price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $11.75 and last traded at $11.79, with a volume of 580490 shares traded. The stock had previously closed at $12.13.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AESI shares. Piper Sandler restated a "neutral" rating and issued a $16.00 price objective on shares of Atlas Energy Solutions in a report on Tuesday, July 15th. Royal Bank Of Canada cut their price objective on Atlas Energy Solutions from $21.00 to $17.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Stifel Nicolaus cut their price objective on Atlas Energy Solutions from $15.00 to $14.50 and set a "buy" rating for the company in a report on Wednesday, July 16th. The Goldman Sachs Group cut their price objective on Atlas Energy Solutions from $22.00 to $15.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Finally, Citigroup cut their price objective on Atlas Energy Solutions from $18.00 to $14.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Atlas Energy Solutions presently has a consensus rating of "Hold" and a consensus target price of $19.11.

Atlas Energy Solutions Stock Performance

The firm has a 50 day moving average of $13.62 and a two-hundred day moving average of $16.04. The stock has a market cap of $1.46 billion, a P/E ratio of 84.23 and a beta of 1.19. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.40 and a current ratio of 1.56.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.10). The firm had revenue of $297.59 million during the quarter, compared to the consensus estimate of $291.13 million. Atlas Energy Solutions had a return on equity of 3.11% and a net margin of 1.20%. Atlas Energy Solutions's revenue was up 54.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.26 EPS. On average, research analysts predict that Atlas Energy Solutions Inc. will post 0.83 EPS for the current fiscal year.

Atlas Energy Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 14th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 8.5%. The ex-dividend date of this dividend is Thursday, August 14th. Atlas Energy Solutions's dividend payout ratio (DPR) is currently 322.58%.

Insider Buying and Selling at Atlas Energy Solutions

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AESI. Harbor Capital Advisors Inc. lifted its holdings in shares of Atlas Energy Solutions by 1.0% in the second 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 in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Atlas Energy Solutions by 307.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,387 shares of the company's stock valued at $31,000 after acquiring an additional 1,047 shares during the last quarter. Quarry LP acquired a new stake in shares of Atlas Energy Solutions in the fourth quarter valued at about $27,000. New York State Teachers Retirement System increased its position in shares of Atlas Energy Solutions by 9.3% in the first quarter. New York State Teachers Retirement System now owns 14,161 shares of the company's stock valued at $253,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Mutual of America Capital Management LLC increased its position in shares of Atlas Energy Solutions by 13.9% in the first quarter. Mutual of America Capital Management LLC now owns 10,460 shares of the company's stock valued at $187,000 after acquiring an additional 1,277 shares during the last quarter. 34.59% of the stock is currently owned by institutional investors.

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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