Atlas Energy Solutions (NYSE:AESI) Reaches New 12-Month 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)'s stock price 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 traded. The stock had previously closed at $11.81.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Royal Bank Of Canada cut their target price 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. Piper Sandler reissued a "neutral" rating and issued a $14.00 target price (down previously from $16.00) on shares of Atlas Energy Solutions in a research note on Thursday. 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, Stifel Nicolaus cut their price objective on shares of Atlas Energy Solutions from $14.50 to $14.00 and set a "buy" rating on the stock in a report on Monday, August 11th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $18.83.

Atlas Energy Solutions Trading Up 0.8%

The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 81.01 and a beta of 1.19. The firm's 50 day moving average is $13.48 and its 200 day moving average is $15.29. The company has a quick ratio of 1.30, a current ratio of 1.56 and a debt-to-equity ratio of 0.39.

Atlas Energy Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 14th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 8.8%. The ex-dividend date is Thursday, August 14th. Atlas Energy Solutions's dividend payout ratio is 714.29%.

Institutional Investors Weigh In On Atlas Energy Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AESI. Public Sector Pension Investment Board raised its holdings in shares of Atlas Energy Solutions by 9.2% during the 2nd quarter. Public Sector Pension Investment Board now owns 248,689 shares of the company's stock valued at $3,325,000 after purchasing an additional 20,912 shares in the last quarter. Evergreen Capital Management LLC raised its holdings in Atlas Energy Solutions by 31.7% in the 2nd quarter. Evergreen Capital Management LLC now owns 1,317,490 shares of the company's stock worth $17,615,000 after acquiring an additional 316,762 shares during the period. Tower Research Capital LLC TRC raised its holdings in Atlas Energy Solutions by 34.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,954 shares of the company's stock worth $120,000 after acquiring an additional 2,314 shares during the period. Corient Private Wealth LLC raised its holdings in Atlas Energy Solutions by 308.8% in the 2nd quarter. Corient Private Wealth LLC now owns 93,655 shares of the company's stock worth $1,252,000 after acquiring an additional 70,748 shares during the period. Finally, Pine Ridge Advisers LLC raised its holdings in Atlas Energy Solutions by 83.7% in the 2nd quarter. Pine Ridge Advisers LLC now owns 1,212,980 shares of the company's stock worth $16,218,000 after acquiring an additional 552,500 shares during the period. Hedge funds and other 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.