Atlas Energy Solutions (NYSE:AESI) Hits New 12-Month Low – What’s Next?

Shares of Atlas Energy Solutions Inc. (NYSE:AESI) hit a new 52-week low during trading on Wednesday . The company traded as low as $12.69 and last traded at $12.89, with a volume of 2395598 shares traded. The stock had previously closed at $13.83.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AESI. Royal Bank of Canada restated an “outperform” rating and issued a $25.00 target price on shares of Atlas Energy Solutions in a research note on Wednesday, April 2nd. Bank of America reaffirmed a “neutral” rating and set a $22.50 price objective on shares of Atlas Energy Solutions in a report on Monday, January 13th. Barclays lowered their target price on shares of 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. The Goldman Sachs Group started coverage on Atlas Energy Solutions in a report on Friday, December 13th. They set a “neutral” rating and a $23.00 price objective on the stock. Finally, Raymond James cut Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, January 6th. Six equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.83.

Atlas Energy Solutions Trading Down 6.8 %

The company’s 50-day moving average is $19.06 and its 200-day moving average is $20.99. 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 $1.57 billion, a price-to-earnings ratio of 16.31 and a beta of 1.20.

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

Atlas Energy Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 21st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 7.76%. The ex-dividend date of this dividend was Friday, February 21st. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.24. Atlas Energy Solutions’s dividend payout ratio is 178.57%.

Insider Buying and Selling

In other Atlas Energy Solutions news, major shareholder Brian Anthony Leveille sold 5,000 shares of the company’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $23.88, for a total transaction of $119,400.00. Following the completion of the sale, the insider now owns 382,010 shares in the company, valued at approximately $9,122,398.80. The trade was a 1.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Stacy Hock sold 10,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $22.50, for a total value of $225,000.00. Following the completion of the transaction, the insider now owns 897,604 shares in the company, valued at $20,196,090. This represents a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,000 shares of company stock worth $1,049,750 over the last three months. 24.34% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Quarry LP bought a new position in shares of Atlas Energy Solutions during the fourth quarter worth $27,000. CBIZ Investment Advisory Services LLC lifted its holdings in Atlas Energy Solutions by 62.9% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,354 shares of the company’s stock worth $30,000 after acquiring an additional 523 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Atlas Energy Solutions by 307.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,387 shares of the company’s stock valued at $31,000 after acquiring an additional 1,047 shares during the period. Global Retirement Partners LLC increased its holdings in shares of Atlas Energy Solutions by 191.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,941 shares of the company’s stock worth $43,000 after acquiring an additional 1,276 shares in the last quarter. Finally, Promus Capital LLC acquired a new stake in shares of Atlas Energy Solutions during the fourth quarter worth about $55,000. Institutional investors and hedge funds 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.