Atlas Energy Solutions (NYSE:AESI) Trading Down 7.9% Following Weak Earnings

Atlas Energy Solutions Inc. (NYSE:AESI - Get Free Report)'s share price fell 7.9% on Tuesday after the company announced weaker than expected quarterly earnings. The company traded as low as $12.84 and last traded at $12.96. 641,799 shares were traded during trading, a decline of 50% from the average session volume of 1,271,104 shares. The stock had previously closed at $14.07.

The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.10). Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The business had revenue of $297.59 million during the quarter, compared to analysts' expectations of $291.13 million. During the same period last year, the company posted $0.26 EPS. Atlas Energy Solutions's revenue for the quarter was up 54.5% on a year-over-year basis.

Atlas Energy Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 7.96%. The ex-dividend date of this dividend is Thursday, May 15th. Atlas Energy Solutions's dividend payout ratio (DPR) is presently 322.58%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AESI. Bank of America reaffirmed a "neutral" rating and set a $22.50 price target on shares of Atlas Energy Solutions in a research note on Monday, January 13th. 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 report on Wednesday. The Goldman Sachs Group dropped their price objective on shares of Atlas Energy Solutions from $22.00 to $15.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Benchmark lowered their price target on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Finally, Barclays reduced their target price on Atlas Energy Solutions from $23.00 to $19.00 and set an "equal weight" rating on the stock in a research report on Monday, March 3rd. Six investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $20.81.

Insider Transactions at Atlas Energy Solutions

In other Atlas Energy Solutions news, major shareholder Gregory M. Shepard acquired 32,155 shares of the business's stock in a transaction dated Thursday, February 27th. The shares were acquired at an average price of $19.04 per share, for a total transaction of $612,231.20. Following the acquisition, the insider now directly owns 7,651,210 shares of the company's stock, valued at approximately $145,679,038.40. This trade represents a 0.42 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 15.98% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Atlas Energy Solutions

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Atlas Energy Solutions by 16.5% during 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 raised its position in 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 buying an additional 935,410 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 worth $75,197,000 after buying an additional 689,846 shares during the last quarter. Copeland Capital Management LLC increased its holdings in 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 buying an additional 955,818 shares during the last quarter. Finally, Cooke & Bieler LP grew its stake in shares of Atlas Energy Solutions by 2.3% during the 1st quarter. Cooke & Bieler LP now owns 2,600,093 shares of the company's stock worth $46,386,000 after acquiring an additional 57,546 shares during the period. 34.59% of the stock is currently owned by institutional investors and hedge funds.

Atlas Energy Solutions Stock Performance

The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.23. The company has a market capitalization of $1.53 billion, a P/E ratio of 15.91 and a beta of 1.34. The business has a 50 day moving average of $15.50 and a 200-day moving average of $19.72.

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.