Atlas Energy Solutions (NYSE:AESI) Hits New 1-Year Low - Time to Sell?

Key Points

• Atlas Energy Solutions' stock hit a new 52-week low at $11.29, a decline from its previous close of $11.81.
• Multiple analysts have revised their price targets, with Stifel Nicolaus and Citigroup lowering their targets to $14.00, while Royal Bank of Canada set theirs at $17.00.
• The company declared a quarterly dividend of $0.25 per share, reflecting an annualized yield of 8.8%, despite having a high dividend payout ratio of 714.29%.

Atlas Energy Solutions Inc. (NYSE:AESI - Get Free Report) reached a new 52-week low on Thursday . The company traded as low as $11.29 and last traded at $11.36, with a volume of 334735 shares. The stock had previously closed at $11.81.

Analysts Set New Price Targets

Several research analysts have weighed in on AESI shares. Stifel Nicolaus decreased their price objective 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. Piper Sandler reduced their price objective on shares of Atlas Energy Solutions from $16.00 to $14.00 and set a "neutral" rating for the company in a research report on Thursday, August 14th. Citigroup cut their target price 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. Finally, Royal Bank Of Canada dropped their price target on shares of Atlas Energy Solutions from $21.00 to $17.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $18.83.

Atlas Energy Solutions Stock Performance

The stock has a fifty day simple moving average of $13.37 and a 200-day simple moving average of $15.19. 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 company has a market capitalization of $1.38 billion, a P/E ratio of 34.24 and a beta of 1.19.

Atlas Energy Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 14th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.9%. The ex-dividend date of this dividend is Thursday, August 14th. Atlas Energy Solutions's dividend payout ratio (DPR) is presently 714.29%.

Institutional Investors Weigh In On Atlas Energy Solutions

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AESI. Vanguard Group Inc. lifted its holdings in 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 purchasing an additional 1,139,352 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Atlas Energy Solutions by 31.5% in the 4th quarter. First Trust Advisors LP now owns 3,908,810 shares of the company's stock valued at $86,697,000 after purchasing an additional 935,410 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Atlas Energy Solutions by 25.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,390,269 shares of the company's stock valued at $75,197,000 after purchasing an additional 689,846 shares during the last quarter. Cooke & Bieler LP boosted its holdings in shares of Atlas Energy Solutions by 23.8% during the 2nd quarter. Cooke & Bieler LP now owns 3,219,440 shares of the company's stock valued at $43,044,000 after acquiring 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 worth $57,152,000 after purchasing an additional 955,818 shares during the last quarter. 34.59% of the stock is currently owned by institutional investors and hedge funds.

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.