Atlas Energy Solutions (NYSE:AESI) Trading 7.2% Higher - Still a Buy?

Key Points

• Atlas Energy Solutions (NYSE:AESI) saw a significant increase in stock price, rising 7.2% to $12.11, despite a notable decrease in trading volume.
• Analysts have mixed sentiment towards AESI, with a consensus rating of "Hold" and a price target averaging $18.83, after recent target adjustments down to $14.00 by some brokerages.
• The company announced a quarterly dividend of $0.25 per share, translating to an annualized yield of 8.6%, reflecting a high payout ratio of 714.29%.

Atlas Energy Solutions Inc. (NYSE:AESI - Get Free Report) shot up 7.2% on Tuesday . The company traded as high as $11.98 and last traded at $12.11. 326,894 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 1,706,399 shares. The stock had previously closed at $11.30.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AESI. Stifel Nicolaus decreased 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, August 11th. Piper Sandler reduced their price target on Atlas Energy Solutions from $16.00 to $14.00 and set a "neutral" rating on the stock in a research report on Thursday, August 14th. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $18.83.

Atlas Energy Solutions Stock Performance

The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.30 and a current ratio of 1.56. The company's fifty day simple moving average is $11.98 and its two-hundred day simple moving average is $13.59. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 82.82 and a beta of 1.19.

Atlas Energy Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 8.6%. The ex-dividend date of this dividend was Thursday, August 14th. Atlas Energy Solutions's payout ratio is 714.29%.

Hedge Funds Weigh In On Atlas Energy Solutions

Large investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC bought a new stake in Atlas Energy Solutions in the second quarter worth $25,000. Larson Financial Group LLC increased its holdings in shares of Atlas Energy Solutions by 201.8% in the first quarter. Larson Financial Group LLC now owns 1,968 shares of the company's stock valued at $35,000 after purchasing an additional 1,316 shares during the period. Fifth Third Bancorp boosted its position in Atlas Energy Solutions by 1,240.1% during the first quarter. Fifth Third Bancorp now owns 1,970 shares of the company's stock worth $35,000 after purchasing an additional 1,823 shares in the last quarter. CWM LLC increased its holdings in shares of Atlas Energy Solutions by 244.4% in the second quarter. CWM LLC now owns 2,235 shares of the company's stock valued at $30,000 after purchasing an additional 1,586 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of Atlas Energy Solutions by 233.5% during the second quarter. Nisa Investment Advisors LLC now owns 2,668 shares of the company's stock worth $36,000 after buying an additional 1,868 shares during the period. 34.59% of the stock is owned by hedge funds and other institutional investors.

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.

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