Atlas Energy Solutions (NYSE:AESI) Hits New 1-Year Low – What’s Next?

Atlas Energy Solutions Inc. (NYSE:AESI) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $16.17 and last traded at $16.26, with a volume of 505243 shares traded. The stock had previously closed at $18.40.

Wall Street Analysts Forecast Growth

AESI has been the subject of a number of analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $25.00 price target on shares of Atlas Energy Solutions in a research note on Wednesday. Raymond James cut Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. Barclays decreased 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 note on Monday, March 3rd. Benchmark dropped their target price on Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Finally, Stephens raised their target price on shares of Atlas Energy Solutions from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. Six equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.83.

Atlas Energy Solutions Price Performance

The firm has a fifty day simple moving average of $19.76 and a two-hundred day simple moving average of $21.18. 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 firm has a market cap of $1.68 billion, a PE ratio of 17.46 and a beta of 1.20.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly earnings data on Monday, February 24th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.12). The company had revenue of $271.34 million for the quarter, compared to the consensus estimate of $272.94 million. Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. Equities analysts predict that Atlas Energy Solutions Inc. will post 0.83 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 21st were given a $0.25 dividend. The ex-dividend date was Friday, February 21st. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 7.25%. Atlas Energy Solutions’s dividend payout ratio (DPR) is currently 178.57%.

Insider Activity

In other news, major shareholder Brian Anthony Leveille sold 5,000 shares of Atlas Energy Solutions stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $23.88, for a total value of $119,400.00. Following the transaction, the insider now directly owns 382,010 shares in the company, valued at approximately $9,122,398.80. This trade represents a 1.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Stacy Hock sold 10,000 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $21.96, for a total transaction of $219,600.00. Following the sale, the insider now directly owns 907,604 shares of the company’s stock, valued at approximately $19,930,983.84. The trade was a 1.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,000 shares of company stock valued at $1,049,750. 24.34% of the stock is currently owned by company insiders.

Institutional Trading of Atlas Energy Solutions

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. First Hawaiian Bank grew its stake in shares of Atlas Energy Solutions by 5.2% during the 1st quarter. First Hawaiian Bank now owns 55,252 shares of the company’s stock worth $986,000 after purchasing an additional 2,748 shares during the period. Wellington Management Group LLP grew its position in Atlas Energy Solutions by 7.7% during the fourth quarter. Wellington Management Group LLP now owns 855,405 shares of the company’s stock valued at $18,973,000 after buying an additional 61,185 shares during the period. Ashford Capital Management Inc. increased its position in shares of Atlas Energy Solutions by 36.1% in the fourth quarter. Ashford Capital Management Inc. now owns 797,675 shares of the company’s stock valued at $17,692,000 after buying an additional 211,675 shares in the last quarter. Squarepoint Ops LLC increased its position in shares of Atlas Energy Solutions by 135.0% during the fourth quarter. Squarepoint Ops LLC now owns 68,880 shares of the company’s stock worth $1,528,000 after purchasing an additional 39,570 shares in the last quarter. Finally, Snowden Capital Advisors LLC lifted its holdings in Atlas Energy Solutions by 44.9% in the 4th quarter. Snowden Capital Advisors LLC now owns 24,470 shares of the company’s stock valued at $543,000 after purchasing an additional 7,587 shares in the last quarter. 34.59% of the stock is owned by institutional investors and hedge funds.

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.