Atlas Energy Solutions (NYSE:AESI) Hits New 12-Month Low Following Analyst Downgrade

Atlas Energy Solutions Inc. (NYSE:AESI) shares hit a new 52-week low on Wednesday after Piper Sandler lowered their price target on the stock from $22.00 to $17.00. Piper Sandler currently has an overweight rating on the stock. Atlas Energy Solutions traded as low as $12.23 and last traded at $12.53, with a volume of 112507 shares trading hands. The stock had previously closed at $12.58.

Other equities research analysts have also recently issued research reports about the company. Bank of America reiterated a “neutral” rating and issued a $22.50 price objective on shares of Atlas Energy Solutions in a research note on Monday, January 13th. Barclays lowered their price target on Atlas Energy Solutions from $23.00 to $19.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. Benchmark lowered their target price on Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Royal Bank of Canada lowered their price objective on shares of Atlas Energy Solutions from $21.00 to $17.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, The Goldman Sachs Group dropped their price target 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. Six analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $20.81.

Insider Buying and Selling

In other Atlas Energy Solutions news, major shareholder Gregory M. Shepard purchased 32,155 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was bought at an average price of $19.04 per share, with a total value of $612,231.20. Following the completion of the purchase, the insider now owns 7,651,210 shares in the company, valued at $145,679,038.40. This trade represents a 0.42 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 15.98% of the company’s stock.

Institutional Trading of Atlas Energy Solutions

Hedge funds have recently modified their holdings of the business. Barclays PLC grew its position in Atlas Energy Solutions by 574.5% in the third quarter. Barclays PLC now owns 175,082 shares of the company’s stock worth $3,817,000 after acquiring an additional 149,126 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Atlas Energy Solutions by 324.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 194,494 shares of the company’s stock worth $4,240,000 after acquiring an additional 148,655 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of Atlas Energy Solutions by 9.9% during the 4th quarter. Harbor Capital Advisors Inc. now owns 33,733 shares of the company’s stock valued at $748,000 after acquiring an additional 3,044 shares during the last quarter. B & T Capital Management DBA Alpha Capital Management raised its stake in shares of Atlas Energy Solutions by 0.8% in the 4th quarter. B & T Capital Management DBA Alpha Capital Management now owns 351,565 shares of the company’s stock valued at $7,798,000 after acquiring an additional 2,834 shares in the last quarter. Finally, DAVENPORT & Co LLC lifted its holdings in Atlas Energy Solutions by 29.0% in the 4th quarter. DAVENPORT & Co LLC now owns 45,800 shares of the company’s stock worth $1,016,000 after purchasing an additional 10,300 shares during the last quarter. Hedge funds and other institutional investors own 34.59% of the company’s stock.

Atlas Energy Solutions Stock Up 2.5 %

The stock has a market cap of $1.49 billion, a P/E ratio of 15.50 and a beta of 1.34. The company has a quick ratio of 1.08, a current ratio of 1.23 and a debt-to-equity ratio of 0.42. The business has a 50-day simple moving average of $15.60 and a 200-day simple moving average of $19.78.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.10). The business had revenue of $297.59 million for the quarter, compared to the consensus estimate of $291.13 million. Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The firm’s revenue for the quarter was up 54.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.26 EPS. Analysts expect that Atlas Energy Solutions Inc. will post 0.83 EPS for the current year.

Atlas Energy Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 15th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.00 dividend on an annualized basis and a yield of 8.17%. Atlas Energy Solutions’s dividend payout ratio (DPR) is presently 178.57%.

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.