Atlas Energy Solutions (NYSE:AESI) Hits New 52-Week Low – Should You Sell?

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group initiated coverage on Atlas Energy Solutions in a report on Friday, December 13th. They set a “neutral” rating and a $23.00 price target for the company. Piper Sandler assumed coverage on shares of Atlas Energy Solutions in a research report on Wednesday, March 12th. They issued an “overweight” rating and a $22.00 target price for the company. Stephens raised their price target on shares of Atlas Energy Solutions from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. Bank of America reaffirmed a “neutral” rating and issued a $22.50 price target on shares of Atlas Energy Solutions in a research report on Monday, January 13th. Finally, Raymond James downgraded Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. Six equities research 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.83.

Atlas Energy Solutions Price Performance

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 firm has a market cap of $1.92 billion, a price-to-earnings ratio of 20.01 and a beta of 1.18. The stock’s 50-day moving average price is $20.13 and its 200 day moving average price is $21.27.

Atlas Energy Solutions (NYSE:AESI) last released 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). 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 during the quarter, compared to the consensus estimate of $272.94 million. Equities 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 21st were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a yield of 6.33%. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.24. Atlas Energy Solutions’s payout ratio is currently 178.57%.

Insider Activity at Atlas Energy Solutions

In other news, major shareholder Gregory M. Shepard acquired 32,155 shares of Atlas Energy Solutions stock in a transaction on Thursday, February 27th. The shares were purchased at an average price of $19.04 per share, with a total value of $612,231.20. Following the acquisition, the insider now owns 7,651,210 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this link. Also, major shareholder Stacy Hock sold 10,000 shares of Atlas Energy Solutions stock in a transaction on Friday, January 10th. The shares were sold at an average price of $21.96, for a total value of $219,600.00. Following the completion of the sale, the insider now directly owns 907,604 shares of the company’s stock, valued at $19,930,983.84. This trade represents a 1.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,000 shares of company stock valued at $1,049,750 over the last ninety days. 24.34% of the stock is owned by insiders.

Institutional Investors Weigh In On Atlas Energy Solutions

Institutional investors have recently modified their holdings of the business. CBIZ Investment Advisory Services LLC raised its position in shares of Atlas Energy Solutions by 62.9% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 1,354 shares of the company’s stock valued at $30,000 after acquiring an additional 523 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Atlas Energy Solutions by 1.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,931 shares of the company’s stock valued at $979,000 after buying an additional 711 shares during the period. Tower Research Capital LLC TRC lifted 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 buying an additional 1,047 shares during the period. Wilmington Savings Fund Society FSB boosted its holdings in Atlas Energy Solutions by 8.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 14,770 shares of the company’s stock worth $328,000 after buying an additional 1,100 shares during the last quarter. Finally, Quarry LP acquired a new position in shares of Atlas Energy Solutions during the 4th quarter worth about $27,000. Institutional investors and hedge funds own 34.59% of the company’s stock.

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.