Atlas Energy Solutions (NYSE:AESI) Sets New 12-Month Low After Analyst Downgrade

Shares of Atlas Energy Solutions Inc. (NYSE:AESI) hit a new 52-week low during mid-day trading 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. The stock had previously closed at $12.58.

Several other analysts have also commented on the company. Royal Bank of Canada dropped their target price on Atlas Energy Solutions from $21.00 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday. Benchmark reduced their price target on Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Barclays cut their price objective on Atlas Energy Solutions from $23.00 to $19.00 and set an “equal weight” rating for the company in a research report on Monday, March 3rd. Stephens increased their target price on Atlas Energy Solutions from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Tuesday, January 28th. Finally, The Goldman Sachs Group cut their price target on shares of Atlas Energy Solutions from $22.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. Six investment 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.81.

Insiders Place Their Bets

In related news, major shareholder Gregory M. Shepard acquired 32,155 shares of Atlas Energy Solutions stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average cost of $19.04 per share, for a total transaction of $612,231.20. Following the acquisition, the insider now owns 7,651,210 shares in the company, valued at approximately $145,679,038.40. This represents a 0.42 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 15.98% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Atlas Energy Solutions

Institutional investors have recently made changes to their positions in the stock. Copeland Capital Management LLC increased its holdings in Atlas Energy Solutions by 42.5% in the 1st quarter. Copeland Capital Management LLC now owns 3,203,592 shares of the company’s stock valued at $57,152,000 after purchasing an additional 955,818 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Atlas Energy Solutions by 31.5% in the fourth quarter. First Trust Advisors LP now owns 3,908,810 shares of the company’s stock valued at $86,697,000 after purchasing an additional 935,410 shares during the period. Frontier Capital Management Co. LLC purchased a new stake in Atlas Energy Solutions during the 4th quarter worth approximately $17,770,000. Vanguard Group Inc. lifted its holdings in Atlas Energy Solutions by 12.6% during the 4th quarter. Vanguard Group Inc. now owns 6,915,325 shares of the company’s stock worth $153,382,000 after buying an additional 773,035 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in 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 valued at $75,197,000 after buying an additional 689,846 shares during the period. 34.59% of the stock is currently owned by institutional investors and hedge funds.

Atlas Energy Solutions Trading Up 2.5 %

The company’s 50 day simple moving average is $15.60 and its 200 day simple moving average is $19.78. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.08. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 15.50 and a beta of 1.34.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $297.59 million during the quarter, compared to analysts’ expectations of $291.13 million. During the same quarter in the previous year, the business posted $0.26 EPS. The business’s quarterly revenue was up 54.5% compared to the same quarter last year. As a group, research analysts expect that Atlas Energy Solutions Inc. will post 0.83 earnings per share for the current fiscal year.

Atlas Energy Solutions Dividend Announcement

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 issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 8.17%. The ex-dividend date of this dividend is Thursday, May 15th. Atlas Energy Solutions’s dividend payout ratio (DPR) is 178.57%.

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.